Datadog, Inc. (NASDAQ:DDOG) Stock Position Boosted by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC boosted its position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 26.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,217 shares of the company's stock after purchasing an additional 7,071 shares during the period. Exchange Traded Concepts LLC's holdings in Datadog were worth $3,395,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Putney Financial Group LLC bought a new position in shares of Datadog during the 4th quarter worth approximately $32,000. Elequin Capital LP bought a new stake in shares of Datadog in the 4th quarter worth approximately $34,000. Opal Wealth Advisors LLC purchased a new stake in Datadog during the 1st quarter valued at $37,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Datadog by 74.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 381 shares of the company's stock worth $38,000 after purchasing an additional 162 shares during the period. Finally, Coppell Advisory Solutions LLC lifted its holdings in shares of Datadog by 178.8% during the fourth quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company's stock valued at $40,000 after purchasing an additional 177 shares during the last quarter. Institutional investors own 78.29% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on DDOG shares. Jefferies Financial Group reaffirmed a "buy" rating on shares of Datadog in a research report on Tuesday, May 6th. Morgan Stanley lowered their price target on shares of Datadog from $143.00 to $115.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Wolfe Research raised shares of Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 price objective for the company in a research report on Thursday, June 12th. Cantor Fitzgerald reiterated an "overweight" rating and set a $134.00 price target on shares of Datadog in a research report on Wednesday, May 7th. Finally, Scotiabank set a $130.00 price target on Datadog and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Six analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $142.52.

Datadog Stock Up 4.2%

Shares of NASDAQ:DDOG traded up $5.20 during trading on Wednesday, reaching $130.04. 7,580,407 shares of the stock traded hands, compared to its average volume of 4,425,903. The stock has a market cap of $44.91 billion, a P/E ratio of 254.77, a price-to-earnings-growth ratio of 69.19 and a beta of 1.01. Datadog, Inc. has a 52-week low of $81.63 and a 52-week high of $170.08. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.74 and a current ratio of 2.74. The stock has a 50-day moving average of $109.26 and a two-hundred day moving average of $122.95.

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 the consensus estimate of $0.42 by $0.04. The business had revenue of $761.55 million for the quarter, compared to analysts' expectations of $741.73 million. Datadog had a return on equity of 6.39% and a net margin of 5.85%. The company's revenue for the quarter was up 24.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 EPS. As a group, sell-side analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Activity

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $105.83, for a total transaction of $13,451,522.15. Following the completion of the sale, the chief technology officer now directly owns 466,535 shares of the company's stock, valued at approximately $49,373,399.05. This trade represents a 21.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Kerry Acocella sold 5,099 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $116.84, for a total transaction of $595,767.16. Following the sale, the general counsel now directly owns 115,490 shares in the company, valued at approximately $13,493,851.60. This represents a 4.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 762,966 shares of company stock valued at $85,558,325 over the last ninety days. 8.70% of the stock is currently owned by insiders.

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.