Datadog, Inc. (NASDAQ:DDOG) Shares Bought by NewEdge Wealth LLC

NewEdge Wealth LLC increased its stake in Datadog, Inc. (NASDAQ:DDOG) by 18.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,451 shares of the company’s stock after purchasing an additional 1,821 shares during the quarter. NewEdge Wealth LLC’s holdings in Datadog were worth $1,636,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC raised its stake in shares of Datadog by 12,000.0% in the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after buying an additional 240 shares in the last quarter. Retirement Wealth Solutions LLC bought a new stake in shares of Datadog in the 4th quarter worth approximately $30,000. Avior Wealth Management LLC lifted its position in shares of Datadog by 55.9% during the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after acquiring an additional 81 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of Datadog by 66.5% in the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after buying an additional 115 shares during the period. Finally, Quarry LP purchased a new position in Datadog during the 3rd quarter worth approximately $33,000. Institutional investors own 78.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on DDOG. Monness Crespi & Hardt upgraded Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a research report on Thursday, November 7th. Guggenheim reaffirmed a “neutral” rating on shares of Datadog in a research report on Wednesday, January 22nd. Jefferies Financial Group increased their target price on shares of Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. JMP Securities reiterated a “market perform” rating on shares of Datadog in a report on Friday, February 14th. Finally, Cantor Fitzgerald initiated coverage on shares of Datadog in a research report on Friday, January 17th. They set an “overweight” rating and a $180.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $158.70.

Insider Activity

In other Datadog news, General Counsel Kerry Acocella sold 2,488 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $158.04, for a total value of $393,203.52. Following the completion of the transaction, the general counsel now directly owns 68,758 shares of the company’s stock, valued at approximately $10,866,514.32. The trade was a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Olivier Pomel sold 178,723 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the transaction, the chief executive officer now owns 379,693 shares in the company, valued at $61,236,887.04. The trade was a 32.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 556,674 shares of company stock worth $82,904,025. 11.78% of the stock is owned by corporate insiders.

Datadog Trading Up 2.7 %

NASDAQ DDOG opened at $116.57 on Friday. Datadog, Inc. has a 1-year low of $98.80 and a 1-year high of $170.08. The company has a 50 day moving average of $138.51 and a 200-day moving average of $131.86. The firm has a market cap of $39.60 billion, a price-to-earnings ratio of 228.57, a PEG ratio of 44.03 and a beta of 1.15.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a net margin of 6.85% and a return on equity of 8.28%. On average, analysts forecast that Datadog, Inc. will post 0.34 earnings per share 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.