Sequoia Financial Advisors LLC Invests $233,000 in Datadog, Inc. (NASDAQ:DDOG)

Sequoia Financial Advisors LLC acquired a new position in shares of Datadog, Inc. (NASDAQ:DDOG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,918 shares of the company’s stock, valued at approximately $233,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Datadog by 4.7% during the third quarter. Vanguard Group Inc. now owns 26,524,875 shares of the company’s stock worth $2,416,151,000 after purchasing an additional 1,191,742 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Datadog by 10.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,985,810 shares of the company’s stock worth $733,957,000 after buying an additional 929,566 shares in the last quarter. Sands Capital Management LLC boosted its stake in Datadog by 12.5% in the second quarter. Sands Capital Management LLC now owns 4,554,589 shares of the company’s stock worth $448,080,000 after buying an additional 505,196 shares in the last quarter. Geode Capital Management LLC boosted its stake in Datadog by 3.2% in the first quarter. Geode Capital Management LLC now owns 3,610,972 shares of the company’s stock worth $262,001,000 after buying an additional 111,651 shares in the last quarter. Finally, Norges Bank purchased a new stake in Datadog in the fourth quarter worth approximately $202,877,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Stock Performance

Shares of DDOG stock opened at $120.09 on Friday. 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 capitalization of $39.85 billion, a price-to-earnings ratio of 1,000.75 and a beta of 1.15. The stock has a fifty day moving average of $125.89 and a 200 day moving average of $115.75. Datadog, Inc. has a 52 week low of $62.60 and a 52 week high of $138.61.

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

Analyst Ratings Changes

DDOG has been the subject of several research reports. Mizuho upped their target price on Datadog from $108.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Citigroup upped their target price on Datadog from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, January 22nd. Robert W. Baird upped their target price on Datadog from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Truist Financial upped their target price on Datadog from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Finally, William Blair reaffirmed an “outperform” rating on shares of Datadog in a research note on Friday, February 16th. Six research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $130.52.

Insider Buying and Selling at Datadog

In other Datadog news, CEO Olivier Pomel sold 133,315 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $129.82, for a total transaction of $17,306,953.30. Following the completion of the transaction, the chief executive officer now 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 Securities & Exchange Commission, which is accessible through this link. In other Datadog news, CEO Olivier Pomel sold 133,315 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $129.82, for a total transaction of $17,306,953.30. Following the completion of the transaction, the chief executive officer now 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 Securities & Exchange Commission, which is accessible through this link. Also, CFO David M. Obstler sold 70,000 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $120.73, for a total value of $8,451,100.00. Following the transaction, the chief financial officer now directly owns 275,191 shares of the company’s stock, valued at approximately $33,223,809.43. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 745,984 shares of company stock valued at $95,917,681. 14.97% of the stock is currently owned by company 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.