BluePointe Capital Management LLC Sells 473 Shares of Datadog, Inc. (NASDAQ:DDOG)

BluePointe Capital Management LLC cut its position in Datadog, Inc. (NASDAQ:DDOG) by 13.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,085 shares of the company’s stock after selling 473 shares during the quarter. BluePointe Capital Management LLC’s holdings in Datadog were worth $355,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of DDOG. Los Angeles Capital Management LLC lifted its position in Datadog by 172.2% during the third quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock valued at $4,469,000 after acquiring an additional 24,574 shares during the last quarter. Heritage Investors Management Corp purchased a new stake in shares of Datadog during the 3rd quarter valued at $1,157,000. Vanguard Group Inc. boosted its position in shares of Datadog by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock worth $3,390,485,000 after purchasing an additional 171,693 shares in the last quarter. Bank of Montreal Can grew its stake in Datadog by 129.2% during the 2nd quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock worth $79,384,000 after buying an additional 344,431 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Datadog by 23.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,933 shares of the company’s stock valued at $19,635,000 after buying an additional 32,217 shares in the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Datadog Stock Up 2.3 %

Shares of NASDAQ:DDOG opened at $131.43 on Friday. Datadog, Inc. has a fifty-two week low of $98.80 and a fifty-two week high of $138.61. The firm’s 50-day simple moving average is $120.42 and its 200-day simple moving average is $119.46. The company has a market cap of $44.31 billion, a price-to-earnings ratio of 247.99, a PEG ratio of 19.20 and a beta of 1.10.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on DDOG. Monness Crespi & Hardt upgraded Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a research note on Thursday, November 7th. Sanford C. Bernstein dropped their target price on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. UBS Group restated an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. TD Cowen boosted their price objective on shares of Datadog from $160.00 to $165.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Scotiabank cut their target price on Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $150.96.

Insider Transactions at Datadog

In related news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog 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 directly owns 336,165 shares in the company, valued at $43,476,219.45. The trade was a 27.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Matthew Jacobson sold 3,393 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $125.03, for a total value of $424,226.79. Following the sale, the director now owns 695,086 shares in the company, valued at approximately $86,906,602.58. This trade represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 320,579 shares of company stock valued at $40,386,541 in the last ninety days. 11.78% of the stock is currently owned by company insiders.

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.