BluePointe Capital Management LLC Sells 794 Shares of Datadog, Inc. (NASDAQ:DDOG)

BluePointe Capital Management LLC reduced its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 25.7% during the fourth quarter, Holdings Channel reports. The fund owned 2,291 shares of the company’s stock after selling 794 shares during the period. BluePointe Capital Management LLC’s holdings in Datadog were worth $327,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Atria Investments Inc lifted its stake in Datadog by 9.5% in the third quarter. Atria Investments Inc now owns 4,802 shares of the company’s stock worth $553,000 after purchasing an additional 416 shares during the last quarter. Quest Partners LLC increased its holdings in shares of Datadog by 2,323.9% in the third quarter. Quest Partners LLC now owns 1,115 shares of the company’s stock worth $128,000 after buying an additional 1,069 shares during the period. Meeder Advisory Services Inc. lifted its stake in shares of Datadog by 40.1% in the 3rd quarter. Meeder Advisory Services Inc. now owns 5,026 shares of the company’s stock valued at $578,000 after acquiring an additional 1,439 shares during the last quarter. Pathstone Holdings LLC boosted its holdings in Datadog by 0.4% during the 3rd quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock valued at $2,664,000 after acquiring an additional 91 shares during the period. Finally, Meeder Asset Management Inc. grew its position in Datadog by 66.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after acquiring an additional 115 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total transaction of $17,948,497.05. Following the transaction, the chief technology officer now owns 324,778 shares of the company’s stock, valued at approximately $45,861,901.38. The trade was a 28.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Amit Agarwal sold 25,000 shares of the stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $147.99, for a total value of $3,699,750.00. Following the sale, the president now owns 195,667 shares in the company, valued at $28,956,759.33. The trade was a 11.33 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 626,412 shares of company stock worth $79,144,334. 11.78% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have weighed in on DDOG shares. Wells Fargo & Company downgraded Datadog from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $152.00 to $140.00 in a research report on Thursday, February 13th. Macquarie reiterated an “outperform” rating and set a $200.00 price target on shares of Datadog in a report on Tuesday, February 11th. Morgan Stanley reissued an “equal weight” rating and issued a $143.00 price target on shares of Datadog in a report on Thursday, January 16th. Rosenblatt Securities upped their price objective on shares of Datadog from $148.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $160.00 target price on shares of Datadog in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Datadog presently has an average rating of “Moderate Buy” and a consensus price target of $158.70.

Datadog Price Performance

NASDAQ DDOG opened at $104.43 on Thursday. The stock has a market capitalization of $35.79 billion, a PE ratio of 204.77, a P/E/G ratio of 44.03 and a beta of 1.22. Datadog, Inc. has a 1-year low of $98.30 and a 1-year high of $170.08. The business has a 50 day simple moving average of $128.45 and a two-hundred day simple moving average of $130.99.

Datadog (NASDAQ:DDOG) last posted its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a net margin of 6.85% and a return on equity of 8.28%. On average, analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

About Datadog

Datadog, Inc operates an observability and security platform for cloud applications in North America and internationally. The company's products comprise infrastructure and application performance monitoring, log management, digital experience monitoring, continuous profiler, database monitoring, data streams and universal service monitoring, network monitoring, incident management, workflow automation, observability pipelines, cloud cost and cloud security management, application security management, cloud SIEM, sensitive data scanner, and CI visibility.