Wedbush Securities Inc. lifted its stake in shares of Datadog, Inc. (NASDAQ:DDOG – Get Rating) by 89.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 6,845 shares of the company’s stock after buying an additional 3,233 shares during the quarter. Wedbush Securities Inc.’s holdings in Datadog were worth $503,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the stock. Jessup Wealth Management Inc acquired a new stake in Datadog in the 4th quarter worth about $300,000. New York State Common Retirement Fund raised its stake in Datadog by 10.0% in the 4th quarter. New York State Common Retirement Fund now owns 826,524 shares of the company’s stock worth $60,750,000 after purchasing an additional 74,985 shares in the last quarter. Paragon Advisors LLC acquired a new stake in Datadog in the 4th quarter worth about $838,000. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Datadog by 0.3% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 718,455 shares of the company’s stock worth $52,806,000 after purchasing an additional 2,272 shares in the last quarter. Finally, Psagot Value Holdings Ltd. Israel acquired a new stake in Datadog in the 4th quarter worth about $675,000. Institutional investors and hedge funds own 70.93% of the company’s stock.
Datadog Trading Down 1.1 %
DDOG opened at $67.32 on Friday. Datadog, Inc. has a fifty-two week low of $61.34 and a fifty-two week high of $138.80. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.09 and a quick ratio of 3.09. The firm has a market capitalization of $21.54 billion, a price-to-earnings ratio of -420.75 and a beta of 0.97. The company’s 50 day moving average price is $72.82 and its two-hundred day moving average price is $75.40.
Insider Transactions at Datadog
In other news, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction that occurred on Thursday, January 26th. The shares were sold at an average price of $73.98, for a total value of $6,335,425.26. Following the transaction, the chief executive officer now owns 243,282 shares in the company, valued at approximately $17,998,002.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction on Thursday, January 26th. The shares were sold at an average price of $73.98, for a total transaction of $6,335,425.26. Following the transaction, the chief executive officer now owns 243,282 shares in the company, valued at approximately $17,998,002.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Sean Michael Walters sold 15,195 shares of the business’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $73.69, for a total transaction of $1,119,719.55. Following the transaction, the executive now owns 141,774 shares in the company, valued at approximately $10,447,326.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 647,777 shares of company stock worth $47,227,341. Company insiders own 15.80% of the company’s stock.
Analysts Set New Price Targets
Several analysts have weighed in on DDOG shares. Morgan Stanley dropped their price objective on shares of Datadog from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Friday, February 17th. Bank of America reduced their price target on shares of Datadog from $120.00 to $110.00 in a research report on Tuesday, February 21st. DA Davidson began coverage on shares of Datadog in a research report on Wednesday, April 5th. They set a “neutral” rating and a $70.00 price objective for the company. Royal Bank of Canada reduced their target price on Datadog from $105.00 to $100.00 and set an “outperform” rating on the stock in a report on Monday, February 13th. Finally, Needham & Company LLC reissued a “buy” rating and set a $105.00 price target on shares of Datadog in a report on Friday, March 31st. Six research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $109.52.
About Datadog
Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. The company's SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, log management, and security monitoring to provide real-time observability of its customers technology stack.
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