Envestnet Asset Management Inc. Boosts Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Envestnet Asset Management Inc. lifted its position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 24.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 787,344 shares of the company's stock after purchasing an additional 156,152 shares during the period. Envestnet Asset Management Inc. owned 0.23% of Datadog worth $78,112,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its holdings 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 during the period. SageView Advisory Group LLC boosted its holdings 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 during the period. Corient Private Wealth LLC boosted its holdings in shares of Datadog by 0.9% during the fourth quarter. Corient Private Wealth LLC now owns 13,118 shares of the company's stock worth $1,874,000 after purchasing an additional 115 shares during the period. State of Wyoming boosted its holdings in shares of Datadog by 3.7% during the fourth quarter. State of Wyoming now owns 3,277 shares of the company's stock worth $468,000 after purchasing an additional 117 shares during the period. Finally, Yousif Capital Management LLC boosted its holdings in shares of Datadog by 3.3% during the first quarter. Yousif Capital Management LLC now owns 3,891 shares of the company's stock worth $386,000 after purchasing an additional 123 shares during the period. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on DDOG shares. Wolfe Research upgraded shares of Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 price objective for the company in a report on Thursday, June 12th. Needham & Company LLC set a $140.00 price objective on shares of Datadog and gave the stock a "buy" rating in a report on Thursday, June 12th. Wedbush restated an "outperform" rating and issued a $140.00 price objective on shares of Datadog in a report on Wednesday, June 11th. BTIG Research set a $136.00 price objective on shares of Datadog and gave the stock a "buy" rating in a report on Tuesday, May 6th. Finally, Morgan Stanley raised their price objective on shares of Datadog from $115.00 to $165.00 and gave the stock an "equal weight" rating in a report on Thursday. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $144.27.

Datadog Price Performance

Shares of DDOG opened at $137.49 on Friday. The firm has a market cap of $47.48 billion, a PE ratio of 298.90, a P/E/G ratio of 78.97 and a beta of 1.03. Datadog, Inc. has a 1-year low of $81.63 and a 1-year high of $170.08. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.34. The firm has a fifty day simple moving average of $123.32 and a two-hundred day simple moving average of $120.99.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings results 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. The firm had revenue of $761.55 million for the quarter, compared to the consensus estimate 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 last year, the business posted $0.44 EPS. On average, equities analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current year.

Insider Transactions at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the firm's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $105.83, for a total value of $13,451,522.15. Following the transaction, the chief technology officer directly owned 466,535 shares in the company, valued at $49,373,399.05. This trade represents a 21.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Olivier Pomel sold 107,365 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $121.71, for a total value of $13,067,394.15. Following the completion of the transaction, the chief executive officer owned 548,715 shares in the company, valued at approximately $66,784,102.65. This trade represents a 16.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 866,806 shares of company stock worth $104,910,027. Company insiders own 8.70% of the company's stock.

About Datadog

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.

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