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

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

Several other institutional investors also recently modified their holdings of the stock. Anchor Investment Management LLC purchased a new position in Datadog in the 4th quarter worth approximately $25,000. BluePath Capital Management LLC purchased a new position in Datadog in the third quarter worth $31,000. Private Trust Co. NA increased its stake in Datadog by 743.3% in the fourth quarter. Private Trust Co. NA now owns 253 shares of the company’s stock valued at $31,000 after acquiring an additional 223 shares during the last quarter. AM Squared Ltd purchased a new stake in Datadog during the third quarter valued at about $36,000. Finally, KB Financial Partners LLC bought a new stake in Datadog during the first quarter worth about $37,000. 78.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on DDOG. Wolfe Research increased their price objective on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, February 14th. Wells Fargo & Company lifted their price target 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. BMO Capital Markets restated an “outperform” rating and issued a $155.00 price objective (up from $140.00) on shares of Datadog in a report on Wednesday, February 14th. Royal Bank of Canada increased their target price on shares of Datadog from $145.00 to $151.00 and gave the company an “outperform” rating in a report on Wednesday, February 14th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $145.00 target price (up previously from $115.00) on shares of Datadog in a research report on Monday, February 12th. Six investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat.com, Datadog presently has an average rating of “Moderate Buy” and an average target price of $130.33.

Insider Buying and Selling at Datadog

In related news, CEO Olivier Pomel sold 133,315 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $129.82, for a total value of $17,306,953.30. Following the sale, the chief executive officer now directly owns 299,075 shares of the company’s stock, valued at $38,825,916.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Datadog news, CFO David M. Obstler sold 31,007 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $128.58, for a total transaction of $3,986,880.06. Following the completion of the transaction, the chief financial officer now owns 275,191 shares of the company’s stock, valued at $35,384,058.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Olivier Pomel sold 133,315 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $129.82, for a total value of $17,306,953.30. Following the completion of the sale, the chief executive officer now directly owns 299,075 shares in the company, valued at $38,825,916.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 745,984 shares of company stock valued at $95,917,681. 14.97% of the stock is currently owned by corporate insiders.

Datadog Stock Performance

NASDAQ:DDOG opened at $126.95 on Wednesday. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.37. Datadog, Inc. has a twelve month low of $62.60 and a twelve month high of $138.61. The stock has a market cap of $42.13 billion, a P/E ratio of 1,057.92 and a beta of 1.16. The firm’s fifty day simple moving average is $126.45 and its 200 day simple moving average is $115.43.

Datadog (NASDAQ:DDOG) last announced its earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, beating 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 previous year, the firm posted ($0.08) EPS. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. As a group, research analysts predict that Datadog, Inc. will post -0.14 EPS for the current year.

Datadog 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.