NewEdge Wealth LLC Grows Position in Datadog, Inc. (NASDAQ:DDOG)

NewEdge Wealth LLC raised its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 10.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,118 shares of the company’s stock after acquiring an additional 395 shares during the period. NewEdge Wealth LLC’s holdings in Datadog were worth $500,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of DDOG. Friedenthal Financial purchased a new position in Datadog in the fourth quarter worth about $767,000. Cerity Partners LLC boosted its holdings in shares of Datadog by 80.0% in the 4th quarter. Cerity Partners LLC now owns 30,062 shares of the company’s stock worth $3,649,000 after purchasing an additional 13,361 shares during the period. Sandy Spring Bank increased its position in shares of Datadog by 24.8% during the 4th quarter. Sandy Spring Bank now owns 5,235 shares of the company’s stock valued at $635,000 after purchasing an additional 1,040 shares during the last quarter. Financial Counselors Inc. raised its holdings in Datadog by 10.5% during the 4th quarter. Financial Counselors Inc. now owns 30,707 shares of the company’s stock valued at $3,727,000 after buying an additional 2,910 shares during the period. Finally, Sequoia Financial Advisors LLC bought a new stake in Datadog in the fourth quarter worth $233,000. 78.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on DDOG shares. Canaccord Genuity Group reiterated a “buy” rating and set a $150.00 price objective on shares of Datadog in a research report on Friday, February 23rd. BMO Capital Markets reiterated an “outperform” rating and set a $155.00 price target (up from $140.00) on shares of Datadog in a report on Wednesday, February 14th. Wells Fargo & Company raised their price objective on shares of Datadog from $100.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Friday, February 9th. Citigroup raised their price target on Datadog from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, January 22nd. Finally, Truist Financial upped their price objective on Datadog from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Six equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, Datadog has an average rating of “Moderate Buy” and a consensus price target of $130.33.

Insider Transactions at Datadog

In other Datadog news, CEO Olivier Pomel sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $130.00, for a total value of $1,300,000.00. Following the completion of the transaction, the chief executive officer now directly owns 299,075 shares of the company’s stock, valued at $38,879,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Olivier Pomel sold 10,000 shares of Datadog stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $130.00, for a total transaction of $1,300,000.00. Following the completion of the transaction, the chief executive officer now directly owns 299,075 shares of the company’s stock, valued at approximately $38,879,750. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO David M. Obstler sold 15,000 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $130.28, for a total transaction of $1,954,200.00. Following the sale, the chief financial officer now directly owns 275,191 shares in the company, valued at $35,851,883.48. The disclosure for this sale can be found here. Insiders have sold 745,984 shares of company stock worth $95,917,681 over the last quarter. 14.97% of the stock is currently owned by insiders.

Datadog Stock Performance

Shares of Datadog stock opened at $126.95 on Wednesday. Datadog, Inc. has a one year low of $62.60 and a one year high of $138.61. The company has a 50-day simple moving average of $126.45 and a two-hundred day simple moving average of $115.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.17 and a current ratio of 3.17. The company has a market capitalization of $42.13 billion, a PE ratio of 1,057.92 and a beta of 1.16.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data 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 firm had revenue of $589.65 million for the quarter, compared to analyst estimates of $568.73 million. During the same quarter in the prior year, the business earned ($0.08) earnings per share. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. Research analysts expect that Datadog, Inc. will post -0.14 EPS for the current fiscal 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.