Stonekeep Investments LLC Lowers Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Stonekeep Investments LLC lessened its stake in Datadog, Inc. (NASDAQ:DDOG) by 2.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,834 shares of the company’s stock after selling 107 shares during the period. Stonekeep Investments LLC’s holdings in Datadog were worth $441,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Kodai Capital Management LP bought a new position in Datadog in the first quarter valued at $116,054,000. DNB Asset Management AS grew its stake in shares of Datadog by 1,974.5% during the second quarter. DNB Asset Management AS now owns 847,600 shares of the company’s stock valued at $109,925,000 after buying an additional 806,741 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Datadog by 1,597.9% in the second quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company’s stock worth $101,841,000 after buying an additional 739,011 shares during the period. Vanguard Group Inc. lifted its stake in shares of Datadog by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 27,259,414 shares of the company’s stock valued at $3,308,748,000 after acquiring an additional 734,539 shares during the last quarter. Finally, Bank of Montreal Can grew its position in Datadog by 129.2% during the 2nd quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock worth $79,384,000 after acquiring an additional 344,431 shares during the last quarter. Institutional investors own 78.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on DDOG shares. Barclays dropped their price objective on Datadog from $145.00 to $140.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. BMO Capital Markets dropped their target price on shares of Datadog from $140.00 to $132.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Royal Bank of Canada reissued an “outperform” rating and set a $151.00 price target on shares of Datadog in a research report on Friday, August 9th. Scotiabank decreased their target price on shares of Datadog from $145.00 to $135.00 and set a “sector outperform” rating for the company in a research note on Friday, August 9th. Finally, Evercore ISI began coverage on shares of Datadog in a report on Monday, July 15th. They set an “outperform” rating and a $150.00 target price for the company. Four investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $141.19.

Datadog Price Performance

Shares of DDOG traded down $0.28 during midday trading on Friday, hitting $129.81. The stock had a trading volume of 2,651,464 shares, compared to its average volume of 3,830,093. Datadog, Inc. has a 1 year low of $77.81 and a 1 year high of $138.61. The stock’s 50 day moving average is $114.75 and its 200 day moving average is $119.29. The firm has a market cap of $43.77 billion, a PE ratio of 288.47, a price-to-earnings-growth ratio of 22.85 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.06. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The firm had revenue of $645.28 million during the quarter, compared to the consensus estimate of $624.92 million. During the same quarter in the previous year, the firm posted $0.36 earnings per share. The company’s revenue was up 26.7% on a year-over-year basis. As a group, equities research analysts expect that Datadog, Inc. will post 0.42 earnings per share for the current fiscal year.

Insider Activity

In other Datadog news, Director Shardul Shah sold 15,832 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $120.02, for a total value of $1,900,156.64. Following the completion of the sale, the director now owns 459,449 shares of the company’s stock, valued at approximately $55,143,068.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Shardul Shah sold 15,832 shares of the business’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $120.02, for a total value of $1,900,156.64. Following the completion of the transaction, the director now owns 459,449 shares of the company’s stock, valued at $55,143,068.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $111.66, for a total value of $14,192,544.30. Following the sale, the chief technology officer now directly owns 347,684 shares in the company, valued at approximately $38,822,395.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 361,574 shares of company stock worth $41,291,591. Corporate insiders own 11.78% of the company’s stock.

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.