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

Stonekeep Investments LLC lowered its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 20.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,064 shares of the company’s stock after selling 770 shares during the quarter. Stonekeep Investments LLC’s holdings in Datadog were worth $438,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Jennison Associates LLC lifted its position in shares of Datadog by 2.1% during the 3rd quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock valued at $721,811,000 after buying an additional 126,613 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Datadog by 2.5% in the third quarter. Geode Capital Management LLC now owns 5,185,557 shares of the company’s stock valued at $595,438,000 after purchasing an additional 125,457 shares during the period. 1832 Asset Management L.P. increased its stake in Datadog by 5.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,486,600 shares of the company’s stock worth $322,487,000 after buying an additional 138,700 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Datadog by 2.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,024,926 shares of the company’s stock worth $232,988,000 after acquiring an additional 46,746 shares during the last quarter. Finally, Holocene Advisors LP raised its stake in Datadog by 205.2% during the third quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock worth $187,878,000 after purchasing an additional 1,097,815 shares during the period. 78.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Datadog news, CEO Olivier Pomel sold 178,723 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the sale, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at $61,236,887.04. This trade represents a 32.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Matthew Jacobson sold 3,393 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $125.03, for a total transaction of $424,226.79. Following the completion of the sale, the director now directly owns 695,086 shares in the company, valued at $86,906,602.58. This represents a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 617,679 shares of company stock valued at $88,668,671. 11.78% of the stock is owned by insiders.

Datadog Trading Up 1.2 %

DDOG stock opened at $138.40 on Friday. The firm has a 50 day moving average of $145.75 and a 200-day moving average of $128.57. The company has a market cap of $47.02 billion, a price-to-earnings ratio of 261.14, a PEG ratio of 16.31 and a beta of 1.14. Datadog, Inc. has a 12-month low of $98.80 and a 12-month high of $170.08.

Analysts Set New Price Targets

A number of research firms have commented on DDOG. Cantor Fitzgerald began coverage on shares of Datadog in a research report on Friday. They issued an “overweight” rating and a $180.00 target price on the stock. BMO Capital Markets increased their target price on Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Truist Financial lowered shares of Datadog from a “buy” rating to a “hold” rating and reduced their target price for the stock from $170.00 to $150.00 in a report on Tuesday, January 7th. BNP Paribas assumed coverage on Datadog in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 price objective on the stock. Finally, UBS Group reissued an “underperform” rating on shares of Datadog in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $158.45.

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.