24,803 Shares in Datadog, Inc. (NASDAQ:DDOG) Bought by McGowan Group Asset Management Inc.

McGowan Group Asset Management Inc. purchased a new position in Datadog, Inc. (NASDAQ:DDOG - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 24,803 shares of the company's stock, valued at approximately $3,544,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Retirement Wealth Solutions LLC acquired a new stake in Datadog in the 4th quarter valued at $30,000. Avior Wealth Management LLC grew its position in Datadog by 55.9% during the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock worth $32,000 after acquiring an additional 81 shares during the last quarter. Coppell Advisory Solutions LLC increased its holdings in Datadog by 178.8% during the 4th quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company's stock valued at $40,000 after purchasing an additional 177 shares in the last quarter. Kieckhefer Group LLC bought a new stake in shares of Datadog during the fourth quarter worth $43,000. Finally, Summit Securities Group LLC bought a new stake in Datadog during the 4th quarter worth about $43,000. Institutional investors own 78.29% of the company's stock.

Insider Activity at Datadog

In other news, Director Amit Agarwal sold 10,167 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $115.86, for a total value of $1,177,948.62. Following the completion of the sale, the director now owns 82,324 shares of the company's stock, valued at approximately $9,538,058.64. This represents a 10.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Olivier Pomel sold 107,365 shares of the business's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $87.33, for a total transaction of $9,376,185.45. Following the transaction, the chief executive officer now owns 563,598 shares in the company, valued at approximately $49,219,013.34. The trade was a 16.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 559,867 shares of company stock valued at $57,550,902. Insiders own 11.78% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DDOG. Cantor Fitzgerald reiterated an "overweight" rating and set a $134.00 target price on shares of Datadog in a research report on Wednesday, May 7th. Macquarie decreased their price target on Datadog from $175.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Wedbush lowered their price target on shares of Datadog from $155.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $119.00 price objective on shares of Datadog in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company dropped their target price on shares of Datadog from $140.00 to $115.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Seven research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, Datadog has an average rating of "Moderate Buy" and a consensus price target of $141.54.

Datadog Stock Up 5.1%

Shares of DDOG opened at $113.42 on Tuesday. Datadog, Inc. has a twelve month low of $81.63 and a twelve month high of $170.08. The stock has a market capitalization of $38.88 billion, a P/E ratio of 222.40, a P/E/G ratio of 44.03 and a beta of 1.12. The company has a 50 day moving average of $100.17 and a 200-day moving average of $125.76.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.04. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The firm had revenue of $761.55 million for the quarter, compared to analyst estimates of $741.73 million. During the same period in the previous year, the business earned $0.44 EPS. The company's revenue was up 24.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current fiscal 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.

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