Focus Partners Wealth Boosts Holdings in Datadog, Inc. (NASDAQ:DDOG)

Focus Partners Wealth grew its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 101.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,865 shares of the company's stock after buying an additional 4,967 shares during the quarter. Focus Partners Wealth's holdings in Datadog were worth $1,436,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DDOG. Retirement Wealth Solutions LLC acquired a new stake in shares of Datadog in the fourth quarter valued at about $30,000. Avior Wealth Management LLC lifted its holdings in Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock valued at $32,000 after acquiring an additional 81 shares during the last quarter. Coppell Advisory Solutions LLC increased its stake in 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 acquiring an additional 177 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Datadog during the 4th quarter worth about $43,000. Finally, Itau Unibanco Holding S.A. increased its position in shares of Datadog by 417.7% during the fourth quarter. Itau Unibanco Holding S.A. now owns 321 shares of the company's stock valued at $46,000 after acquiring an additional 259 shares during the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Datadog Stock Performance

Datadog stock traded down $0.17 during trading hours on Tuesday, reaching $116.29. 2,995,249 shares of the stock were exchanged, compared to its average volume of 4,372,995. Datadog, Inc. has a 52-week low of $81.63 and a 52-week high of $170.08. The firm's 50 day moving average is $101.39 and its 200 day moving average is $125.45. The stock has a market cap of $40.16 billion, a P/E ratio of 228.02, a P/E/G ratio of 44.03 and a beta of 1.12.

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

Insider Transactions at Datadog

In related news, Director Amit Agarwal sold 25,000 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $118.67, for a total value of $2,966,750.00. Following the completion of the transaction, the director now directly owns 82,324 shares in the company, valued at approximately $9,769,389.08. This represents a 23.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $102.15, for a total value of $12,983,775.75. Following the sale, the chief technology officer now owns 371,865 shares of the company's stock, valued at approximately $37,986,009.75. The trade was a 25.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 584,867 shares of company stock valued at $60,517,652 in the last 90 days. 11.78% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

DDOG has been the subject of a number of research analyst reports. Scotiabank set a $130.00 price objective on shares of Datadog and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Needham & Company LLC reduced their price objective on Datadog from $160.00 to $130.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Wolfe Research downgraded Datadog from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. JMP Securities reiterated a "market perform" rating on shares of Datadog in a report on Friday, February 14th. Finally, BTIG Research set a $136.00 price objective on shares of Datadog and gave the company a "buy" rating in a report on Tuesday, May 6th. Seven 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, the stock has a consensus rating of "Moderate Buy" and an average target price of $141.54.

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.