Simplicity Wealth LLC Makes New $1.21 Million Investment in Datadog, Inc. (NASDAQ:DDOG)

Simplicity Wealth LLC purchased a new position in Datadog, Inc. (NASDAQ:DDOG - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 12,223 shares of the company's stock, valued at approximately $1,213,000.

Other large investors have also modified their holdings of the company. Putney Financial Group LLC acquired a new stake in shares of Datadog during the fourth quarter worth $32,000. Elequin Capital LP acquired a new stake in Datadog during the 4th quarter worth $34,000. MassMutual Private Wealth & Trust FSB grew its holdings in Datadog by 74.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 381 shares of the company's stock valued at $38,000 after buying an additional 162 shares in the last quarter. Coppell Advisory Solutions LLC increased its holdings in shares of Datadog by 178.8% during the 4th 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 last quarter. Finally, Summit Securities Group LLC purchased a new stake in Datadog in the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 78.29% of the company's stock.

Insider Activity at Datadog

In other Datadog news, CEO Olivier Pomel sold 107,365 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The stock was 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 owns 563,598 shares in the company, valued at $49,219,013.34. This trade represents a 16.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Kerry Acocella sold 5,099 shares of Datadog stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $116.84, for a total value of $595,767.16. Following the sale, the general counsel now owns 115,490 shares of the company's stock, valued at approximately $13,493,851.60. This trade represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 700,582 shares of company stock worth $77,926,597 over the last quarter. Company insiders own 8.70% of the company's stock.

Datadog Trading Up 3.3%

Shares of NASDAQ DDOG traded up $3.90 during midday trading on Thursday, hitting $122.53. The company's stock had a trading volume of 2,121,647 shares, compared to its average volume of 4,396,888. The firm has a market capitalization of $42.32 billion, a price-to-earnings ratio of 240.26, a P/E/G ratio of 44.03 and a beta of 1.01. Datadog, Inc. has a one year low of $81.63 and a one year high of $170.08. The stock has a fifty day moving average price of $106.65 and a 200 day moving average price of $124.02.

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

Analyst Ratings Changes

DDOG has been the subject of a number of analyst reports. Royal Bank of Canada reiterated an "outperform" rating and set a $119.00 target price on shares of Datadog in a research note on Wednesday, May 7th. Jefferies Financial Group restated a "buy" rating on shares of Datadog in a research note on Tuesday, May 6th. JMP Securities reiterated a "market perform" rating on shares of Datadog in a research report on Friday, February 14th. Citigroup cut their price target on Datadog from $170.00 to $165.00 and set a "buy" rating for the company in a report on Friday, February 14th. Finally, UBS Group raised their price objective on Datadog from $125.00 to $140.00 and gave the stock a "buy" rating in a report on Wednesday. Six research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $142.25.

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.