Datadog, Inc. (NASDAQ:DDOG) Shares Acquired by LPL Financial LLC

Key Points

• LPL Financial LLC has increased its holdings in Datadog, Inc. by 6.8%, acquiring 10,319 shares and bringing its total ownership to 162,562 shares, valued at approximately $16.1 million.
• Significant insider sales occurred recently, with CFO David M. Obstler selling 35,016 shares and CEO Olivier Pomel selling 107,365 shares, leading to a decrease in their respective shareholdings of 8.06% and 16.36%.
• Analysts have set new price targets for Datadog, with estimates ranging up to $175.00, reflecting a consensus rating of "Moderate Buy" and a target price of approximately $148.86.

LPL Financial LLC increased its position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 6.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 162,562 shares of the company's stock after purchasing an additional 10,319 shares during the period. LPL Financial LLC's holdings in Datadog were worth $16,128,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Putney Financial Group LLC acquired a new position in Datadog during the fourth quarter worth about $32,000. Elequin Capital LP acquired a new position in Datadog during the fourth quarter worth about $34,000. Coppell Advisory Solutions LLC grew its position 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 buying an additional 177 shares during the period. Cornerstone Planning Group LLC grew its position in Datadog by 96.9% during the first quarter. Cornerstone Planning Group LLC now owns 313 shares of the company's stock worth $30,000 after buying an additional 154 shares during the period. Finally, Itau Unibanco Holding S.A. grew its position in shares of Datadog by 417.7% in the fourth quarter. Itau Unibanco Holding S.A. now owns 321 shares of the company's stock valued at $46,000 after purchasing an additional 259 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, CFO David M. Obstler sold 35,016 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $117.40, for a total value of $4,110,878.40. Following the transaction, the chief financial officer owned 399,270 shares of the company's stock, valued at approximately $46,874,298. This trade represents a 8.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $119.96, for a total transaction of $15,247,515.80. Following the completion of the transaction, the chief technology officer directly owned 452,769 shares in the company, valued at approximately $54,314,169.24. This represents a 21.92% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 835,918 shares of company stock worth $106,308,669. 8.70% of the stock is currently owned by insiders.

Datadog Trading Down 4.0%

NASDAQ:DDOG traded down $5.47 during trading hours on Friday, reaching $130.91. 10,857,862 shares of the company were exchanged, compared to its average volume of 5,445,083. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.43 and a quick ratio of 2.74. The firm has a market cap of $45.21 billion, a price-to-earnings ratio of 374.04, a PEG ratio of 75.00 and a beta of 1.02. Datadog, Inc. has a 52-week low of $81.63 and a 52-week high of $170.08. The stock has a 50 day simple moving average of $135.18 and a 200 day simple moving average of $120.89.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.05. Datadog had a net margin of 4.13% and a return on equity of 5.04%. The company had revenue of $826.76 million for the quarter, compared to the consensus estimate of $791.72 million. During the same quarter last year, the firm posted $0.43 earnings per share. Datadog's revenue was up 28.1% on a year-over-year basis. As a group, analysts predict that Datadog, Inc. will post 0.34 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently commented on DDOG. Wells Fargo & Company lowered their price target on shares of Datadog from $140.00 to $115.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. Wolfe Research upgraded shares of Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 price target on the stock in a research report on Thursday, June 12th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $119.00 price target on shares of Datadog in a research report on Wednesday, May 7th. Bank of America increased their price target on shares of Datadog from $150.00 to $175.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Finally, UBS Group set a $165.00 price target on shares of Datadog and gave the company a "buy" rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, Datadog presently has an average rating of "Moderate Buy" and an average price target of $151.72.

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.