Bryce Point Capital LLC Sells 1,888 Shares of Datadog, Inc. (NASDAQ:DDOG)

Key Points

• Bryce Point Capital LLC has reduced its stake in Datadog, Inc. by 16.7%, now holding 9,386 shares valued at approximately $931,000.
• Institutional investors own 78.29% of Datadog's stock, with notable increases from Groupama Asset Management and Janus Henderson Group PLC during the 4th quarter, raising their stakes significantly.
• Datadog reported $0.46 earnings per share for its last quarter, exceeding analysts' expectations and showing 24.6% year-over-year revenue growth.

Bryce Point Capital LLC cut its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 16.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,386 shares of the company's stock after selling 1,888 shares during the quarter. Datadog accounts for 0.7% of Bryce Point Capital LLC's investment portfolio, making the stock its 28th largest holding. Bryce Point Capital LLC's holdings in Datadog were worth $931,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in Datadog by 887.0% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 25,199 shares of the company's stock valued at $25,000 after buying an additional 22,646 shares during the period. Cornerstone Planning Group LLC raised its position in shares of Datadog by 96.9% during the first quarter. Cornerstone Planning Group LLC now owns 313 shares of the company's stock worth $30,000 after purchasing an additional 154 shares during the period. Putney Financial Group LLC acquired a new position in shares of Datadog during the fourth quarter worth approximately $32,000. Elequin Capital LP acquired a new position in shares of Datadog during the fourth quarter worth approximately $34,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Datadog during the first quarter worth approximately $37,000. 78.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. BTIG Research set a $136.00 target price on Datadog and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Mizuho upped their price target on Datadog from $125.00 to $145.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Stifel Nicolaus upped their price target on Datadog from $120.00 to $135.00 and gave the stock a "hold" rating in a report on Thursday, June 26th. Truist Financial decreased their price target on Datadog from $140.00 to $120.00 and set a "hold" rating for the company in a report on Monday, March 31st. Finally, Jefferies Financial Group reiterated a "buy" rating on shares of Datadog in a report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $146.79.

Insider Buying and Selling at Datadog

In related news, Director Matthew Jacobson sold 47,306 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $107.40, for a total transaction of $5,080,664.40. Following the transaction, the director directly owned 25,468 shares in the company, valued at $2,735,263.20. This trade represents a 65.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amit Agarwal sold 25,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $117.02, for a total value of $2,925,500.00. Following the transaction, the director owned 76,052 shares in the company, valued at approximately $8,899,605.04. The trade was a 24.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 957,666 shares of company stock worth $117,576,223 over the last quarter. Company insiders own 8.70% of the company's stock.

Datadog Price Performance

Shares of NASDAQ DDOG traded up $0.93 during trading hours on Monday, reaching $150.77. 2,647,060 shares of the stock traded hands, compared to its average volume of 10,676,036. The company has a market capitalization of $52.07 billion, a P/E ratio of 327.77, a price-to-earnings-growth ratio of 82.40 and a beta of 1.03. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.34. Datadog, Inc. has a 52-week low of $81.63 and a 52-week high of $170.08. The company's 50-day simple moving average is $131.01 and its two-hundred day simple moving average is $120.62.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.04. Datadog had a return on equity of 6.39% and a net margin of 5.85%. The business had revenue of $761.55 million for the quarter, compared to analyst estimates of $741.73 million. During the same period last year, the company earned $0.44 EPS. Datadog's revenue for the quarter was up 24.6% compared to the same quarter last year. Equities research analysts forecast that Datadog, Inc. will post 0.34 EPS for the current year.

Datadog Company 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.