Private Advisor Group LLC Invests $318,000 in Datadog, Inc. (NASDAQ:DDOG)

Posted by Defense World Staff on Sep 5th, 2023

Private Advisor Group LLC purchased a new position in Datadog, Inc. (NASDAQ:DDOG – Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,382 shares of the company’s stock, valued at approximately $318,000.

Other large investors also recently modified their holdings of the company. Nordea Investment Management AB lifted its position in shares of Datadog by 21.5% in the 4th quarter. Nordea Investment Management AB now owns 511,703 shares of the company’s stock worth $37,579,000 after buying an additional 90,619 shares during the last quarter. Keybank National Association OH lifted its position in Datadog by 54.0% in the 1st quarter. Keybank National Association OH now owns 7,572 shares of the company’s stock valued at $550,000 after purchasing an additional 2,656 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Datadog by 329.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 725 shares of the company’s stock valued at $53,000 after purchasing an additional 556 shares during the last quarter. LGT Group Foundation lifted its position in Datadog by 6.0% in the 1st quarter. LGT Group Foundation now owns 108,982 shares of the company’s stock valued at $7,919,000 after purchasing an additional 6,203 shares during the last quarter. Finally, DnB Asset Management AS bought a new stake in Datadog in the 1st quarter valued at about $2,761,000. 68.30% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Matthew Jacobson sold 22,391 shares of the stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $93.80, for a total transaction of $2,100,275.80. Following the transaction, the director now owns 1,658,538 shares in the company, valued at approximately $155,570,864.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Matthew Jacobson sold 22,391 shares of the stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $93.80, for a total transaction of $2,100,275.80. Following the transaction, the director now owns 1,658,538 shares in the company, valued at approximately $155,570,864.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Olivier Pomel sold 85,637 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $86.20, for a total transaction of $7,381,909.40. Following the transaction, the chief executive officer now owns 336,486 shares in the company, valued at approximately $29,005,093.20. The disclosure for this sale can be found here. Insiders sold 1,070,407 shares of company stock valued at $101,910,610 over the last ninety days. Corporate insiders own 14.97% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DDOG. Piper Sandler lifted their price objective on shares of Datadog from $75.00 to $88.00 in a research report on Friday, June 9th. Credit Suisse Group reissued an “outperform” rating and set a $125.00 target price on shares of Datadog in a research note on Wednesday, August 9th. Oppenheimer reissued an “outperform” rating and set a $120.00 target price on shares of Datadog in a research note on Wednesday, August 9th. Sanford C. Bernstein raised their target price on shares of Datadog from $127.00 to $133.00 and gave the company an “outperform” rating in a research note on Wednesday, August 16th. Finally, Wolfe Research raised shares of Datadog from a “peer perform” rating to an “outperform” rating and set a $140.00 target price on the stock in a research note on Monday, July 24th. Six research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, Datadog has an average rating of “Moderate Buy” and an average target price of $107.45.

Read Our Latest Stock Report on DDOG

Datadog Stock Performance

DDOG stock opened at $97.73 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.42 and a current ratio of 3.41. The stock has a market cap of $31.76 billion, a P/E ratio of -375.88, a P/E/G ratio of 1,670.60 and a beta of 0.98. The firm has a 50 day simple moving average of $100.74 and a 200 day simple moving average of $86.72. Datadog, Inc. has a 52 week low of $61.34 and a 52 week high of $118.02.

Datadog (NASDAQ:DDOG – Get Free Report) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.28 by $0.08. The business had revenue of $509.46 million during the quarter, compared to analysts’ expectations of $501.55 million. Datadog had a negative net margin of 4.38% and a negative return on equity of 4.66%. The firm’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same period last year, the company posted $0.24 earnings per share.

About Datadog

(Free Report)

Datadog, Inc operates an observability and security platform for cloud applications in North America and internationally. The company's products include infrastructure and application performance monitoring, log management, digital experience monitoring, continuous profiler, database monitoring, network monitoring, incident management, observability pipelines, cloud cost management, universal service monitoring, cloud security management, application security management.