Sowell Financial Services LLC Takes Position in Datadog, Inc. (NASDAQ:DDOG)

Sowell Financial Services LLC purchased a new stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 5,610 shares of the company's stock, valued at approximately $557,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allworth Financial LP raised its holdings in Datadog by 7.7% during the fourth quarter. Allworth Financial LP now owns 1,043 shares of the company's stock worth $146,000 after purchasing an additional 75 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Datadog by 5.2% in the 4th quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company's stock valued at $265,000 after buying an additional 92 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in Datadog by 16.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 663 shares of the company's stock worth $95,000 after acquiring an additional 94 shares in the last quarter. Kovack Advisors Inc. lifted its position in Datadog by 2.1% in the fourth quarter. Kovack Advisors Inc. now owns 4,899 shares of the company's stock valued at $700,000 after acquiring an additional 100 shares during the last quarter. Finally, SageView Advisory Group LLC lifted its position in Datadog by 4.9% in the fourth quarter. SageView Advisory Group LLC now owns 2,176 shares of the company's stock valued at $311,000 after acquiring an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 78.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DDOG. Royal Bank Of Canada reissued an "outperform" rating and issued a $119.00 target price on shares of Datadog in a report on Wednesday, May 7th. Canaccord Genuity Group reduced their price objective on Datadog from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. DA Davidson increased their target price on Datadog from $115.00 to $125.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Cantor Fitzgerald restated an "overweight" rating and set a $134.00 target price on shares of Datadog in a research report on Wednesday, May 7th. Finally, Needham & Company LLC set a $140.00 price target on Datadog and gave the stock a "buy" rating in a report on Thursday, June 12th. Six analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, Datadog has an average rating of "Moderate Buy" and an average target price of $142.52.

Insiders Place Their Bets

In other news, CFO David M. Obstler sold 20,000 shares of Datadog stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $125.25, for a total value of $2,505,000.00. Following the completion of the transaction, the chief financial officer now directly owns 399,270 shares of the company's stock, valued at approximately $50,008,567.50. The trade was a 4.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CRO Sean Michael Walters sold 9,468 shares of the stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $125.00, for a total transaction of $1,183,500.00. Following the sale, the executive now owns 221,793 shares in the company, valued at approximately $27,724,125. This trade represents a 4.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 762,966 shares of company stock valued at $85,558,325 in the last quarter. Insiders own 8.70% of the company's stock.

Datadog Stock Down 2.0%

DDOG traded down $2.54 on Friday, reaching $127.50. The company's stock had a trading volume of 5,223,224 shares, compared to its average volume of 4,429,084. Datadog, Inc. has a 1 year low of $81.63 and a 1 year high of $170.08. The business's 50 day moving average is $110.65 and its 200 day moving average is $122.84. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.74 and a quick ratio of 2.74. The stock has a market cap of $44.03 billion, a price-to-earnings ratio of 277.18, a price-to-earnings-growth ratio of 72.08 and a beta of 1.01.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.04. The business had revenue of $761.55 million during the quarter, compared to the consensus estimate of $741.73 million. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The business's quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.44 earnings per share. As a group, research analysts forecast that Datadog, Inc. will post 0.34 EPS 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.