Datadog, Inc. (NASDAQ:DDOG) Shares Purchased by IFP Advisors Inc

IFP Advisors Inc increased its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 69.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 16,220 shares of the company's stock after purchasing an additional 6,638 shares during the quarter. IFP Advisors Inc's holdings in Datadog were worth $1,609,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Brighton Jones LLC bought a new stake in Datadog during the 4th quarter valued at about $209,000. Corient Private Wealth LLC lifted its holdings in Datadog by 0.9% during the 4th quarter. Corient Private Wealth LLC now owns 13,118 shares of the company's stock valued at $1,874,000 after buying an additional 115 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in Datadog by 400.3% during the 4th quarter. Teacher Retirement System of Texas now owns 22,283 shares of the company's stock valued at $3,184,000 after buying an additional 17,829 shares in the last quarter. Virtu Financial LLC bought a new stake in Datadog during the 4th quarter valued at about $645,000. Finally, LPL Financial LLC lifted its holdings in Datadog by 34.4% during the 4th quarter. LPL Financial LLC now owns 152,243 shares of the company's stock valued at $21,754,000 after buying an additional 38,937 shares in the last quarter. Institutional investors own 78.29% of the company's stock.

Datadog Stock Up 2.2%

NASDAQ:DDOG traded up $3.28 during mid-day trading on Friday, hitting $149.84. 4,923,366 shares of the company's stock traded hands, compared to its average volume of 10,657,659. The company has a fifty day moving average of $130.32 and a 200 day moving average of $120.69. Datadog, Inc. has a twelve month low of $81.63 and a twelve month high of $170.08. The company has a market capitalization of $51.75 billion, a P/E ratio of 325.75, a P/E/G ratio of 82.40 and a beta of 1.03. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.74 and a current ratio of 2.74.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its earnings results 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. The company had revenue of $761.55 million for the quarter, compared to analyst estimates of $741.73 million. Datadog had a return on equity of 6.39% and a net margin of 5.85%. The firm's quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.44 EPS. On average, analysts forecast that Datadog, Inc. will post 0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

DDOG has been the subject of a number of research analyst reports. Wedbush reiterated an "outperform" rating and set a $140.00 price objective on shares of Datadog in a report on Wednesday, June 11th. DA Davidson upped their target price on Datadog from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Barclays upped their target price on Datadog from $128.00 to $170.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Mizuho upped their target price on Datadog from $125.00 to $145.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Finally, Scotiabank set a $130.00 target price on Datadog and gave the stock an "outperform" rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $146.79.

Insiders Place Their Bets

In other news, CFO David M. Obstler sold 35,016 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $117.40, for a total value of $4,110,878.40. Following the transaction, the chief financial officer directly owned 399,270 shares of the company's stock, valued at approximately $46,874,298. This represents a 8.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amit Agarwal sold 25,000 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $117.02, for a total value of $2,925,500.00. Following the completion of the transaction, the director directly owned 76,052 shares in the company, valued at $8,899,605.04. This represents a 24.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 957,666 shares of company stock valued at $117,576,223. Insiders own 8.70% of the company's stock.

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.