MJP Associates Inc. ADV Makes New Investment in Datadog, Inc. (NASDAQ:DDOG)

MJP Associates Inc. ADV purchased a new stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,007 shares of the company's stock, valued at approximately $430,000.

Several other large investors have also modified their holdings of DDOG. Wealth Enhancement Advisory Services LLC increased its holdings in Datadog by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,883 shares of the company's stock worth $1,698,000 after purchasing an additional 137 shares during the period. Green Alpha Advisors LLC increased its holdings in Datadog by 18.3% during the 4th quarter. Green Alpha Advisors LLC now owns 3,301 shares of the company's stock worth $472,000 after purchasing an additional 511 shares during the period. Kieckhefer Group LLC purchased a new stake in Datadog during the 4th quarter worth about $43,000. Wedmont Private Capital increased its holdings in Datadog by 8.3% during the 4th quarter. Wedmont Private Capital now owns 2,149 shares of the company's stock worth $302,000 after purchasing an additional 164 shares during the period. Finally, Cooper Financial Group increased its holdings in Datadog by 10.5% during the 4th quarter. Cooper Financial Group now owns 1,996 shares of the company's stock worth $285,000 after purchasing an additional 189 shares during the period. Institutional investors and hedge funds own 78.29% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Scotiabank set a $130.00 price objective on Datadog and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Needham & Company LLC decreased their target price on Datadog from $160.00 to $130.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Wedbush decreased their price objective on Datadog from $155.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Stifel Nicolaus set a $120.00 price objective on Datadog in a research report on Tuesday, May 6th. Finally, Rosenblatt Securities reduced their price target on Datadog from $160.00 to $150.00 and set a "buy" rating for the company in a report on Monday, May 5th. Seven investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $141.54.

Datadog Trading Up 0.5%

Datadog stock traded up $0.53 during midday trading on Friday, hitting $117.67. The stock had a trading volume of 3,138,469 shares, compared to its average volume of 4,359,271. The stock has a market cap of $40.33 billion, a P/E ratio of 230.73, a P/E/G ratio of 44.03 and a beta of 1.12. Datadog, Inc. has a 12 month low of $81.63 and a 12 month high of $170.08. The business has a fifty day moving average price of $100.79 and a 200 day moving average price of $125.59.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings data 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. The firm 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 quarterly revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.44 earnings per share. On average, equities analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Insider Activity at Datadog

In other news, CEO Olivier Pomel sold 107,365 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $109.56, for a total transaction of $11,762,909.40. Following the completion of the transaction, the chief executive officer now directly owns 435,793 shares in the company, valued at approximately $47,745,481.08. The trade was a 19.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Sean Michael Walters sold 8,454 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total value of $862,646.16. Following the completion of the sale, the executive now owns 185,871 shares of the company's stock, valued at $18,966,276.84. This trade represents a 4.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 559,867 shares of company stock valued at $57,550,902 over the last three months. 11.78% of the stock is owned by insiders.

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.