Wealth Enhancement Advisory Services LLC Boosts Holdings in Datadog, Inc. (NASDAQ:DDOG)

Wealth Enhancement Advisory Services LLC increased its position in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 12.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,422 shares of the company's stock after buying an additional 1,916 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Datadog were worth $1,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC acquired a new stake in shares of Datadog in the fourth quarter valued at about $209,000. Amalgamated Bank boosted its holdings in Datadog by 1.5% in the fourth quarter. Amalgamated Bank now owns 20,223 shares of the company's stock valued at $2,890,000 after acquiring an additional 296 shares during the last quarter. NewEdge Wealth LLC boosted its holdings in Datadog by 18.9% in the fourth quarter. NewEdge Wealth LLC now owns 11,451 shares of the company's stock valued at $1,636,000 after acquiring an additional 1,821 shares during the last quarter. Nwam LLC acquired a new stake in Datadog during the 4th quarter valued at approximately $283,000. Finally, Oppenheimer & Co. Inc. raised its holdings in Datadog by 1.3% during the 4th quarter. Oppenheimer & Co. Inc. now owns 13,734 shares of the company's stock worth $1,962,000 after purchasing an additional 178 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company's stock.

Insider Activity at Datadog

In other news, Director Amit Agarwal sold 25,000 shares of Datadog 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 owned 76,052 shares in the company, valued at $8,899,605.04. This trade represents a 24.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Olivier Pomel sold 107,365 shares of the company's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $87.33, for a total transaction of $9,376,185.45. Following the sale, the chief executive officer owned 563,598 shares in the company, valued at $49,219,013.34. The trade was a 16.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 901,778 shares of company stock worth $103,817,113 in the last three months. Corporate insiders own 8.70% of the company's stock.

Datadog Stock Performance

Shares of DDOG traded down $2.00 on Tuesday, reaching $132.33. 4,163,484 shares of the company's stock traded hands, compared to its average volume of 4,423,972. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.34. The stock has a market cap of $45.70 billion, a PE ratio of 274.14, a PEG ratio of 74.31 and a beta of 1.03. The stock's 50 day simple moving average is $116.17 and its two-hundred day simple moving average is $120.93. Datadog, Inc. has a 52-week low of $81.63 and a 52-week high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.04. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The company had revenue of $761.55 million during the quarter, compared to analyst estimates of $741.73 million. During the same quarter in the prior year, the business earned $0.44 earnings per share. The firm's revenue for the quarter was up 24.6% on a year-over-year basis. On average, analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on DDOG shares. Stifel Nicolaus increased their price objective on shares of Datadog from $120.00 to $135.00 and gave the stock a "hold" rating in a research report on Thursday, June 26th. Rosenblatt Securities lowered their price objective on Datadog from $160.00 to $150.00 and set a "buy" rating for the company in a research report on Monday, May 5th. UBS Group boosted their price objective on Datadog from $125.00 to $140.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. Truist Financial decreased their target price on Datadog from $140.00 to $120.00 and set a "hold" rating for the company in a research note on Monday, March 31st. Finally, Morgan Stanley lowered their target price on Datadog from $143.00 to $115.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $143.03.

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.