Park Avenue Securities LLC Purchases 2,655 Shares of Datadog, Inc. (NASDAQ:DDOG)

Park Avenue Securities LLC boosted its position in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 16.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,815 shares of the company's stock after buying an additional 2,655 shares during the quarter. Park Avenue Securities LLC's holdings in Datadog were worth $1,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of DDOG. Congress Asset Management Co. purchased a new stake in shares of Datadog during the 1st quarter valued at approximately $52,248,000. E. Ohman J or Asset Management AB lifted its position in shares of Datadog by 24.7% during the first quarter. E. Ohman J or Asset Management AB now owns 53,867 shares of the company's stock worth $5,344,000 after acquiring an additional 10,670 shares in the last quarter. Northside Capital Management LLC boosted its holdings in shares of Datadog by 2.8% in the first quarter. Northside Capital Management LLC now owns 34,948 shares of the company's stock worth $3,467,000 after acquiring an additional 956 shares during the period. Hennion & Walsh Asset Management Inc. grew its position in shares of Datadog by 3.0% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 6,494 shares of the company's stock valued at $644,000 after purchasing an additional 187 shares in the last quarter. Finally, Leibman Financial Services Inc. grew its position in shares of Datadog by 1.5% in the first quarter. Leibman Financial Services Inc. now owns 16,735 shares of the company's stock valued at $1,660,000 after purchasing an additional 247 shares in the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Datadog

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $119.96, for a total value of $15,247,515.80. Following the completion of the transaction, the chief technology officer now directly owns 452,769 shares of the company's stock, valued at $54,314,169.24. This represents a 21.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Olivier Pomel sold 107,365 shares of Datadog stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $87.33, for a total value of $9,376,185.45. Following the sale, the chief executive officer now directly 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. Insiders sold a total of 700,582 shares of company stock worth $77,926,597 over the last quarter. 8.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on DDOG. Rosenblatt Securities cut their target price on Datadog from $160.00 to $150.00 and set a "buy" rating for the company in a research note on Monday, May 5th. DA Davidson increased their target price on shares of Datadog from $115.00 to $125.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Wolfe Research upgraded shares of Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 price target for the company in a research report on Thursday. Citigroup lowered their price objective on Datadog from $170.00 to $165.00 and set a "buy" rating on the stock in a research report on Friday, February 14th. Finally, UBS Group lifted their price objective on Datadog from $125.00 to $140.00 and gave the company a "buy" rating in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. Based on data from MarketBeat, Datadog has a consensus rating of "Moderate Buy" and a consensus target price of $142.25.

Datadog Stock Up 3.0%

Shares of Datadog stock traded up $3.56 on Thursday, hitting $122.19. The stock had a trading volume of 2,044,520 shares, compared to its average volume of 4,396,346. The stock's 50-day simple moving average is $106.65 and its two-hundred day simple moving average is $124.02. Datadog, Inc. has a one year low of $81.63 and a one year high of $170.08. The stock has a market cap of $42.20 billion, a price-to-earnings ratio of 239.59, a PEG ratio of 44.03 and a beta of 1.01.

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

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.