Datadog, Inc. (NASDAQ:DDOG) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its position in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 32.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,506 shares of the company's stock after purchasing an additional 3,760 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Datadog were worth $2,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Groupama Asset Managment boosted its position in shares of Datadog by 407.6% during the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock worth $943,074,000 after acquiring an additional 5,299,688 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Datadog by 17,477.2% during the fourth quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company's stock worth $573,923,000 after acquiring an additional 3,993,707 shares during the last quarter. Norges Bank bought a new position in shares of Datadog during the fourth quarter worth $462,910,000. Brown Advisory Inc. boosted its position in shares of Datadog by 2,804.2% during the fourth quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company's stock worth $392,830,000 after acquiring an additional 2,654,512 shares during the last quarter. Finally, Baillie Gifford & Co. boosted its position in shares of Datadog by 15.8% during the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company's stock worth $1,558,234,000 after acquiring an additional 1,484,562 shares during the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Datadog

In other news, CEO Olivier Pomel sold 107,365 shares of Datadog stock in a transaction on Monday, April 7th. The shares were sold at an average price of $87.33, for a total transaction 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 approximately $49,219,013.34. The trade was a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Sean Michael Walters sold 8,454 shares of Datadog stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total transaction of $862,646.16. Following the sale, the executive now owns 185,871 shares of the company's stock, valued at $18,966,276.84. The trade was a 4.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 728,776 shares of company stock worth $78,705,625 over the last three months. Corporate insiders own 8.70% of the company's stock.

Datadog Stock Up 0.3%

Shares of NASDAQ DDOG traded up $0.41 during midday trading on Friday, reaching $122.16. 4,536,844 shares of the company's stock traded hands, compared to its average volume of 4,397,491. The stock's 50 day simple moving average is $105.14 and its 200-day simple moving average is $124.53. Datadog, Inc. has a one year low of $81.63 and a one year high of $170.08. The company has a market cap of $42.19 billion, a price-to-earnings ratio of 239.53, a P/E/G ratio of 44.03 and a beta of 1.12.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $741.73 million. During the same period last year, the firm earned $0.44 earnings per share. The company's quarterly revenue was up 24.6% on a year-over-year basis. Equities analysts predict that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on DDOG. Needham & Company LLC dropped their target price on shares of Datadog from $160.00 to $130.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Rosenblatt Securities lowered their price objective on shares of Datadog from $160.00 to $150.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Jefferies Financial Group reiterated a "buy" rating on shares of Datadog in a research report on Tuesday, May 6th. Scotiabank set a $130.00 price objective on shares of Datadog and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $134.00 price objective on shares of Datadog in a research report on Wednesday, May 7th. Seven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $141.04.

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.