Quantum Private Wealth LLC Cuts Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Quantum Private Wealth LLC reduced its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 6.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 13,872 shares of the company’s stock after selling 1,000 shares during the quarter. Quantum Private Wealth LLC’s holdings in Datadog were worth $1,596,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. SouthState Corp purchased a new position in Datadog in the second quarter valued at $26,000. Blue Trust Inc. acquired a new position in Datadog in the second quarter valued at about $37,000. EverSource Wealth Advisors LLC raised its holdings in shares of Datadog by 70.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock valued at $39,000 after buying an additional 127 shares during the period. American National Bank & Trust purchased a new stake in Datadog during the 3rd quarter worth approximately $39,000. Finally, Versant Capital Management Inc boosted its holdings in Datadog by 216.5% in the second quarter. Versant Capital Management Inc now owns 307 shares of the company’s stock valued at $40,000 after purchasing an additional 210 shares during the period. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Datadog news, Director Shardul Shah sold 7,916 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $126.67, for a total value of $1,002,719.72. Following the sale, the director now owns 451,533 shares in the company, valued at approximately $57,195,685.11. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Shardul Shah sold 7,916 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $126.67, for a total value of $1,002,719.72. Following the sale, the director now owns 451,533 shares in the company, valued at approximately $57,195,685.11. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $129.33, for a total transaction of $16,438,489.65. Following the completion of the transaction, the chief technology officer now owns 336,165 shares in the company, valued at $43,476,219.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 444,291 shares of company stock valued at $54,154,859 over the last three months. Corporate insiders own 11.78% of the company’s stock.

Datadog Stock Performance

DDOG opened at $126.70 on Friday. The firm has a market cap of $42.72 billion, a P/E ratio of 288.43, a PEG ratio of 22.93 and a beta of 1.10. Datadog, Inc. has a fifty-two week low of $98.80 and a fifty-two week high of $138.61. The firm has a 50-day moving average of $119.21 and a 200 day moving average of $119.49.

Datadog (NASDAQ:DDOG) last announced its earnings results on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.06. The company had revenue of $645.28 million during the quarter, compared to analyst estimates of $624.92 million. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The firm’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.36 earnings per share. Equities research analysts predict that Datadog, Inc. will post 0.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DDOG. Barclays decreased their target price on shares of Datadog from $145.00 to $140.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. BTIG Research raised Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price target on the stock in a research note on Thursday, August 1st. Cantor Fitzgerald reissued an “overweight” rating and set a $150.00 target price on shares of Datadog in a research report on Monday, July 22nd. Monness Crespi & Hardt upgraded Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a report on Thursday. Finally, DA Davidson raised shares of Datadog from a “neutral” rating to a “buy” rating and increased their price target for the stock from $115.00 to $140.00 in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Datadog currently has a consensus rating of “Moderate Buy” and an average price target of $146.33.

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.