First Trust Direct Indexing L.P. Purchases New Stake in Datadog, Inc. (NASDAQ:DDOG)

First Trust Direct Indexing L.P. purchased a new stake in shares of Datadog, Inc. (NASDAQ:DDOG) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,783 shares of the company’s stock, valued at approximately $216,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Y.D. More Investments Ltd raised its position in shares of Datadog by 47.3% during the 4th quarter. Y.D. More Investments Ltd now owns 27,535 shares of the company’s stock valued at $3,155,000 after acquiring an additional 8,845 shares in the last quarter. Mach 1 Financial Group LLC acquired a new stake in Datadog in the fourth quarter worth $729,000. Brighton Jones LLC acquired a new stake in Datadog in the fourth quarter worth $240,000. Paradigm Financial Partners LLC acquired a new stake in Datadog in the fourth quarter worth $217,000. Finally, Truist Financial Corp increased its position in Datadog by 9.1% in the fourth quarter. Truist Financial Corp now owns 20,363 shares of the company’s stock worth $2,472,000 after buying an additional 1,691 shares during the period. 78.29% of the stock is owned by institutional investors and hedge funds.

Datadog Price Performance

Shares of DDOG opened at $117.28 on Thursday. The business’s 50-day moving average is $124.57 and its 200-day moving average is $119.16. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.17 and a quick ratio of 3.17. The company has a market capitalization of $38.92 billion, a price-to-earnings ratio of 977.33 and a beta of 1.14. Datadog, Inc. has a fifty-two week low of $77.81 and a fifty-two week high of $138.61.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Datadog had a net margin of 2.28% and a return on equity of 3.79%. The business had revenue of $589.65 million for the quarter, compared to the consensus estimate of $568.73 million. During the same period in the prior year, the business posted ($0.08) earnings per share. Datadog’s revenue for the quarter was up 25.6% compared to the same quarter last year. Equities research analysts expect that Datadog, Inc. will post -0.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DDOG. Wolfe Research increased their target price on Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 14th. Wedbush reaffirmed an “outperform” rating and issued a $155.00 target price on shares of Datadog in a research report on Monday. Wells Fargo & Company raised Datadog from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $130.00 to $150.00 in a research report on Tuesday, April 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $165.00 target price on shares of Datadog in a research report on Tuesday. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $150.00 price target on shares of Datadog in a report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, Datadog has a consensus rating of “Moderate Buy” and an average price target of $135.58.

Insider Transactions at Datadog

In other news, CEO Olivier Pomel sold 85,637 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $125.41, for a total value of $10,739,736.17. Following the transaction, the chief executive officer now directly owns 337,247 shares of the company’s stock, valued at $42,294,146.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $125.41, for a total transaction of $10,739,736.17. Following the transaction, the chief executive officer now directly owns 337,247 shares of the company’s stock, valued at $42,294,146.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $135.10, for a total transaction of $17,171,885.50. Following the transaction, the chief technology officer now directly owns 247,328 shares in the company, valued at $33,414,012.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 712,230 shares of company stock valued at $91,161,780. 11.78% of the stock is owned by insiders.

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.