Stony Point Capital LLC Has $25.89 Million Position in Datadog, Inc. (NASDAQ:DDOG)

Stony Point Capital LLC lessened its position in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 181,212 shares of the company's stock after selling 4,763 shares during the period. Datadog comprises about 5.3% of Stony Point Capital LLC's portfolio, making the stock its largest holding. Stony Point Capital LLC owned 0.05% of Datadog worth $25,893,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Allworth Financial LP raised its position in shares of Datadog by 7.7% in the fourth quarter. Allworth Financial LP now owns 1,043 shares of the company's stock valued at $146,000 after purchasing an additional 75 shares during the period. Spire Wealth Management raised its holdings in Datadog by 21.4% in the 4th quarter. Spire Wealth Management now owns 453 shares of the company's stock valued at $65,000 after acquiring an additional 80 shares during the period. Avior Wealth Management LLC lifted its position in Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock worth $32,000 after acquiring an additional 81 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Datadog by 5.2% during the fourth quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company's stock worth $265,000 after acquiring an additional 92 shares during the period. Finally, Parkside Financial Bank & Trust grew its position in shares of Datadog by 16.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 663 shares of the company's stock valued at $95,000 after purchasing an additional 94 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Amit Agarwal sold 25,000 shares of Datadog stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $118.67, for a total transaction of $2,966,750.00. Following the transaction, the director now owns 82,324 shares in the company, valued at approximately $9,769,389.08. The trade was a 23.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Olivier Pomel sold 107,365 shares of the business's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $87.33, for a total transaction of $9,376,185.45. Following the completion of the sale, the chief executive officer now directly owns 563,598 shares in the company, valued at approximately $49,219,013.34. This represents a 16.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 584,867 shares of company stock worth $60,517,652 in the last ninety days. Company insiders own 11.78% of the company's stock.

Datadog Stock Down 0.1%

Shares of NASDAQ:DDOG traded down $0.17 during trading on Tuesday, hitting $116.29. 2,995,249 shares of the company were exchanged, compared to its average volume of 4,372,995. Datadog, Inc. has a 1-year low of $81.63 and a 1-year high of $170.08. The company has a market capitalization of $40.16 billion, a P/E ratio of 228.02, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12. The business's 50 day moving average is $101.74 and its 200-day moving average is $125.39.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.04. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The business had revenue of $761.55 million during the quarter, compared to analysts' expectations of $741.73 million. During the same quarter in the prior year, the firm earned $0.44 EPS. The business's revenue for the quarter was up 24.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DDOG. UBS Group lifted their price target on Datadog from $120.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Canaccord Genuity Group reduced their target price on shares of Datadog from $150.00 to $145.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Wells Fargo & Company lowered their price target on shares of Datadog from $140.00 to $115.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. Needham & Company LLC cut their price objective on shares of Datadog from $160.00 to $130.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Finally, Truist Financial decreased their target price on shares of Datadog from $140.00 to $120.00 and set a "hold" rating on the stock in a research report on Monday, March 31st. Seven investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, Datadog has an average rating of "Moderate Buy" and a consensus target price of $141.54.

Datadog Profile

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.