Datadog, Inc. (NASDAQ:DDOG) Shares Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC raised its position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 16.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,815 shares of the company's stock after acquiring an additional 2,655 shares during the period. Park Avenue Securities LLC's holdings in Datadog were worth $1,867,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its stake in shares of 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 lifted its stake in shares of Datadog by 5.2% during the fourth quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company's stock worth $265,000 after purchasing an additional 92 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Datadog by 16.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 663 shares of the company's stock worth $95,000 after purchasing an additional 94 shares in the last quarter. Kovack Advisors Inc. lifted its stake in shares of Datadog by 2.1% during the fourth quarter. Kovack Advisors Inc. now owns 4,899 shares of the company's stock worth $700,000 after purchasing an additional 100 shares in the last quarter. Finally, SageView Advisory Group LLC lifted its stake in shares of Datadog by 4.9% during the fourth quarter. SageView Advisory Group LLC now owns 2,176 shares of the company's stock worth $311,000 after purchasing an additional 101 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company's stock.

Analysts Set New Price Targets

DDOG has been the topic of a number of recent research reports. Stifel Nicolaus set a $120.00 price objective on Datadog in a research note on Tuesday, May 6th. Wolfe Research upgraded Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 price objective on the stock in a research note on Thursday. Truist Financial cut their price target on Datadog from $140.00 to $120.00 and set a "hold" rating on the stock in a research note on Monday, March 31st. Citigroup cut their price target on Datadog from $170.00 to $165.00 and set a "buy" rating on the stock in a research note on Friday, February 14th. Finally, JMP Securities reiterated a "market perform" rating on shares of Datadog in a research note on Friday, February 14th. Six analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $142.25.

Datadog Price Performance

DDOG stock traded down $2.23 on Friday, reaching $120.45. The company's stock had a trading volume of 3,961,551 shares, compared to its average volume of 4,402,373. Datadog, Inc. has a 52 week low of $81.63 and a 52 week high of $170.08. The company has a market capitalization of $41.60 billion, a P/E ratio of 236.18, a price-to-earnings-growth ratio of 44.03 and a beta of 1.01. The firm has a fifty day moving average of $108.01 and a two-hundred day moving average of $123.55.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.04. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The business had revenue of $761.55 million during the quarter, compared to analyst estimates of $741.73 million. During the same period in the prior year, the company posted $0.44 EPS. The business's revenue for the quarter was up 24.6% compared to the same quarter last year. As a group, equities analysts expect that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Insider Buying and Selling

In other Datadog news, CEO Olivier Pomel sold 107,365 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $87.33, for a total value of $9,376,185.45. Following the completion of the sale, the chief executive officer now directly owns 563,598 shares in the company, valued at $49,219,013.34. This represents a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Amit Agarwal sold 25,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $119.46, for a total value of $2,986,500.00. Following the completion of the sale, the director now owns 54,356 shares of the company's stock, valued at $6,493,367.76. This trade represents a 31.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 725,582 shares of company stock valued at $80,913,097 in the last three months. 8.70% 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.