Datadog, Inc. (NASDAQ:DDOG) Position Increased by Independent Advisor Alliance

Independent Advisor Alliance raised its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 11.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,608 shares of the company’s stock after buying an additional 779 shares during the quarter. Independent Advisor Alliance’s holdings in Datadog were worth $1,087,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Allworth Financial LP lifted its position in shares of Datadog by 7.7% in the fourth quarter. Allworth Financial LP now owns 1,043 shares of the company’s stock worth $146,000 after purchasing an additional 75 shares in the last quarter. Spire Wealth Management lifted its position in shares of Datadog by 21.4% in the fourth quarter. Spire Wealth Management now owns 453 shares of the company’s stock worth $65,000 after purchasing an additional 80 shares in the last quarter. Avior Wealth Management LLC lifted its position in shares of Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after purchasing an additional 81 shares in the last quarter. Pathstone Holdings LLC lifted its position in shares of Datadog by 0.4% in the third quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock worth $2,664,000 after purchasing an additional 91 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in shares of Datadog by 16.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 663 shares of the company’s stock worth $95,000 after purchasing an additional 94 shares in the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Datadog

In other Datadog news, Director Shardul Shah sold 7,916 shares of Datadog stock in a transaction on Monday, December 16th. The stock was sold at an average price of $155.25, for a total transaction of $1,228,959.00. Following the completion of the transaction, the director now directly owns 435,701 shares of the company’s stock, valued at approximately $67,642,580.25. This trade represents a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Olivier Pomel sold 19,226 shares of Datadog stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $153.73, for a total value of $2,955,612.98. Following the transaction, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at approximately $58,370,204.89. The trade was a 4.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 653,554 shares of company stock valued at $83,328,905. 11.78% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently commented on DDOG. Mizuho increased their price objective on Datadog from $155.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Wells Fargo & Company downgraded Datadog from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $152.00 to $140.00 in a report on Thursday, February 13th. Guggenheim restated a “neutral” rating on shares of Datadog in a report on Wednesday, January 22nd. Rosenblatt Securities increased their price objective on Datadog from $148.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, Needham & Company LLC restated a “buy” rating and issued a $160.00 price objective on shares of Datadog in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $158.70.

Datadog Price Performance

Shares of DDOG stock opened at $101.80 on Friday. The stock has a market cap of $34.89 billion, a P/E ratio of 199.61, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22. Datadog, Inc. has a one year low of $98.30 and a one year high of $170.08. The stock has a fifty day moving average price of $130.81 and a 200 day moving average price of $131.22.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) 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%. Equities research analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current year.

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.