Merit Financial Group LLC Buys 5,496 Shares of Datadog, Inc. (NASDAQ:DDOG)

Merit Financial Group LLC boosted its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 228.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,898 shares of the company's stock after purchasing an additional 5,496 shares during the quarter. Merit Financial Group LLC's holdings in Datadog were worth $784,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. JTC Employer Solutions Trustee Ltd purchased a new stake in shares of Datadog in the first quarter worth about $1,715,000. Sanders Morris Harris LLC raised its holdings in shares of Datadog by 450.0% during the 1st quarter. Sanders Morris Harris LLC now owns 46,258 shares of the company's stock worth $4,665,000 after acquiring an additional 37,847 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Datadog by 29.5% during the 1st quarter. Parallel Advisors LLC now owns 5,269 shares of the company's stock worth $523,000 after acquiring an additional 1,199 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Datadog by 9,984.3% during the 1st quarter. GAMMA Investing LLC now owns 79,666 shares of the company's stock valued at $7,904,000 after acquiring an additional 78,876 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of Datadog by 74.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 381 shares of the company's stock valued at $38,000 after purchasing an additional 162 shares in the last quarter. Institutional investors own 78.29% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on DDOG shares. Wedbush decreased their price target on shares of Datadog from $155.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Jefferies Financial Group restated a "buy" rating on shares of Datadog in a research report on Tuesday, May 6th. BTIG Research set a $136.00 price target on shares of Datadog and gave the company a "buy" rating in a report on Tuesday, May 6th. Wolfe Research cut Datadog from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, February 18th. Finally, Scotiabank set a $130.00 price objective on Datadog and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Seven investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $141.04.

Insider Buying and Selling

In other news, CEO Olivier Pomel sold 107,365 shares of Datadog stock in a transaction on Monday, April 7th. The stock was sold at an average price of $87.33, for a total value of $9,376,185.45. Following the transaction, the chief executive officer now directly owns 563,598 shares in the company, valued at approximately $49,219,013.34. This trade represents a 16.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Shardul Shah sold 23,748 shares of the business's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $120.00, for a total value of $2,849,760.00. Following the completion of the transaction, the director now directly owns 396,121 shares of the company's stock, valued at approximately $47,534,520. The trade was a 5.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 728,776 shares of company stock valued at $78,705,625 over the last 90 days. Corporate insiders own 8.70% of the company's stock.

Datadog Trading Up 0.3%

Shares of Datadog stock opened at $122.16 on Monday. The stock's fifty day moving average price is $105.14 and its 200-day moving average price is $124.32. The firm has a market cap of $42.19 billion, a P/E ratio of 239.53, a P/E/G ratio of 44.03 and a beta of 1.01. Datadog, Inc. has a 12 month low of $81.63 and a 12 month high of $170.08.

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.