Spire Wealth Management Buys 5,092 Shares of Datadog, Inc. (NASDAQ:DDOG)

Spire Wealth Management boosted its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 2,148.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,329 shares of the company’s stock after acquiring an additional 5,092 shares during the period. Spire Wealth Management’s holdings in Datadog were worth $694,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DDOG. Anchor Investment Management LLC bought a new position in shares of Datadog in the fourth quarter worth $25,000. Private Trust Co. NA increased its holdings in Datadog by 743.3% in the 4th quarter. Private Trust Co. NA now owns 253 shares of the company’s stock valued at $31,000 after buying an additional 223 shares during the period. AM Squared Ltd bought a new stake in shares of Datadog during the 3rd quarter worth approximately $36,000. GAMMA Investing LLC bought a new stake in shares of Datadog during the 4th quarter worth approximately $45,000. Finally, Headinvest LLC acquired a new stake in shares of Datadog during the 3rd quarter worth approximately $46,000. 78.29% of the stock is owned by institutional investors and hedge funds.

Datadog Stock Down 1.2 %

Shares of NASDAQ DDOG opened at $115.87 on Friday. Datadog, Inc. has a 12-month low of $77.81 and a 12-month high of $138.61. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.37. The firm has a market cap of $38.45 billion, a PE ratio of 965.58 and a beta of 1.14. The company’s fifty day simple moving average is $124.30 and its 200 day simple moving average is $119.14.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on DDOG shares. Robert W. Baird upgraded Datadog from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $130.00 to $140.00 in a research note on Wednesday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $146.00 price objective on shares of Datadog in a research note on Monday. Cantor Fitzgerald reissued an “overweight” rating and set a $150.00 target price on shares of Datadog in a research note on Wednesday, April 17th. Mizuho increased their target price on shares of Datadog from $108.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Finally, Wolfe Research lifted their price target on shares of Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, February 14th. Four analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $135.58.

Insider Activity

In related news, 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 value of $17,171,885.50. Following the transaction, the chief technology officer now directly owns 247,328 shares in the company, valued at approximately $33,414,012.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Datadog news, CEO Olivier Pomel sold 19,226 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $130.06, for a total transaction of $2,500,533.56. Following the completion of the sale, the chief executive officer now directly owns 299,075 shares of the company’s stock, valued at approximately $38,897,694.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $135.10, for a total value of $17,171,885.50. Following the completion of the transaction, the chief technology officer now owns 247,328 shares in the company, valued at approximately $33,414,012.80. The disclosure for this sale can be found here. Insiders sold a total of 712,530 shares of company stock worth $91,195,791 over the last quarter. 11.78% of the stock is currently owned by corporate 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.