Envestnet Portfolio Solutions Inc. Reduces Position in Datadog, Inc. (NASDAQ:DDOG)

Envestnet Portfolio Solutions Inc. trimmed its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 17.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,671 shares of the company's stock after selling 4,197 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Datadog were worth $1,952,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DDOG. Putney Financial Group LLC acquired a new stake in Datadog in the 4th quarter valued at $32,000. Elequin Capital LP acquired a new stake in shares of Datadog in the fourth quarter valued at about $34,000. Coppell Advisory Solutions LLC increased its stake in shares of Datadog by 178.8% during the fourth quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company's stock worth $40,000 after purchasing an additional 177 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of Datadog during the 4th quarter worth about $43,000. Finally, Itau Unibanco Holding S.A. increased its stake in Datadog by 417.7% during the 4th quarter. Itau Unibanco Holding S.A. now owns 321 shares of the company's stock worth $46,000 after buying an additional 259 shares in the last quarter. 78.29% of the stock is owned by institutional investors and hedge funds.

Datadog Stock Performance

Shares of DDOG stock traded up $1.41 during midday trading on Tuesday, hitting $130.93. The company had a trading volume of 2,127,614 shares, compared to its average volume of 4,426,204. 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 current ratio of 2.74 and a quick ratio of 2.74. The company's 50 day simple moving average is $112.11 and its 200 day simple moving average is $121.79. The stock has a market cap of $45.22 billion, a price-to-earnings ratio of 284.63, a PEG ratio of 70.67 and a beta of 1.01.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.04. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The company had revenue of $761.55 million for the quarter, compared to analysts' expectations of $741.73 million. During the same period in the previous year, the company posted $0.44 EPS. Datadog's revenue was up 24.6% compared to the same quarter last year. Research analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO David M. Obstler sold 15,000 shares of the business's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $130.25, for a total transaction of $1,953,750.00. Following the sale, the chief financial officer now owns 399,270 shares of the company's stock, valued at approximately $52,004,917.50. The trade was a 3.62% 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 the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 563,598 shares of the company's stock, valued at approximately $49,219,013.34. This trade represents a 16.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 777,966 shares of company stock valued at $87,512,075 over the last ninety days. Corporate insiders own 8.70% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Wolfe Research upgraded shares of Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 target price for the company in a research report on Thursday, June 12th. Bank of America upped their target price on shares of Datadog from $138.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. BTIG Research set a $136.00 price objective on Datadog and gave the company a "buy" rating in a research note on Tuesday, May 6th. Needham & Company LLC set a $140.00 target price on shares of Datadog and gave the stock a "buy" rating in a report on Thursday, June 12th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $134.00 price target on shares of Datadog in a research report on Wednesday, May 7th. Six research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $142.52.

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.