Datadog, Inc. (NASDAQ:DDOG) Shares Sold by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC reduced its holdings in shares of Datadog, Inc. (NASDAQ:DDOGFree Report) by 98.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,120 shares of the company’s stock after selling 1,795,550 shares during the period. Datadog makes up 0.7% of Pier 88 Investment Partners LLC’s holdings, making the stock its 28th largest position. Pier 88 Investment Partners LLC’s holdings in Datadog were worth $2,806,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in DDOG. Norges Bank purchased a new stake in Datadog during the 4th quarter valued at about $384,986,000. Massachusetts Financial Services Co. MA purchased a new position in shares of Datadog in the third quarter valued at approximately $189,668,000. Alkeon Capital Management LLC purchased a new position in shares of Datadog in the third quarter valued at approximately $127,526,000. Vanguard Group Inc. lifted its position in shares of Datadog by 4.7% in the third quarter. Vanguard Group Inc. now owns 26,524,875 shares of the company’s stock valued at $2,416,151,000 after acquiring an additional 1,191,742 shares in the last quarter. Finally, Westfield Capital Management Co. LP purchased a new position in Datadog during the third quarter worth approximately $44,939,000. 78.29% of the stock is owned by institutional investors and hedge funds.

Datadog Stock Performance

Shares of Datadog stock traded up $1.48 on Friday, hitting $123.60. The stock had a trading volume of 2,183,231 shares, compared to its average volume of 4,632,903. Datadog, Inc. has a 52-week low of $77.81 and a 52-week high of $138.61. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.34. The stock has a market cap of $41.34 billion, a price-to-earnings ratio of 386.25, a P/E/G ratio of 48.16 and a beta of 1.14. The company’s 50 day moving average price is $123.21 and its 200 day moving average price is $122.37.

Datadog (NASDAQ:DDOGGet Free Report) last posted its earnings results on Tuesday, May 7th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.20. Datadog had a return on equity of 7.48% and a net margin of 5.11%. The business had revenue of $611.25 million during the quarter, compared to the consensus estimate of $589.97 million. On average, research analysts anticipate that Datadog, Inc. will post 0.27 EPS for the current year.

Insider Activity

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $118.52, for a total transaction of $15,064,484.60. Following the completion of the sale, the chief technology officer now directly owns 290,412 shares of the company’s stock, valued at approximately $34,419,630.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $118.52, for a total transaction of $15,064,484.60. Following the completion of the sale, the chief technology officer now directly owns 290,412 shares of the company’s stock, valued at approximately $34,419,630.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Madre Armelle De sold 300 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $113.37, for a total value of $34,011.00. Following the sale, the insider now directly owns 100,053 shares of the company’s stock, valued at $11,343,008.61. The disclosure for this sale can be found here. In the last three months, insiders sold 712,402 shares of company stock valued at $89,071,727. Insiders own 11.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on DDOG shares. Mizuho lifted their price objective on Datadog from $108.00 to $130.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Wedbush reaffirmed an “outperform” rating and issued a $155.00 price objective on shares of Datadog in a research note on Monday, May 6th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Datadog in a research note on Friday, February 23rd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $152.00 price objective on shares of Datadog in a research note on Monday, April 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $165.00 price objective on shares of Datadog in a research note on Wednesday, May 15th. Five equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $135.58.

Read Our Latest Report on DDOG

Datadog Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Datadog (NASDAQ:DDOG)

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