Merit Financial Group LLC Purchases New Stake in Datadog, Inc. (NASDAQ:DDOG)

Merit Financial Group LLC bought a new stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,402 shares of the company's stock, valued at approximately $343,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Avanza Fonder AB acquired a new position in shares of Datadog during the fourth quarter valued at about $3,065,000. StoneCrest Wealth Management Inc. increased its holdings in Datadog by 12.8% during the 4th quarter. StoneCrest Wealth Management Inc. now owns 5,525 shares of the company's stock worth $789,000 after purchasing an additional 628 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of Datadog by 31.4% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 6,307 shares of the company's stock worth $901,000 after purchasing an additional 1,506 shares during the last quarter. Northside Capital Management LLC lifted its holdings in shares of Datadog by 5.2% in the fourth quarter. Northside Capital Management LLC now owns 33,992 shares of the company's stock valued at $4,857,000 after purchasing an additional 1,684 shares in the last quarter. Finally, USA Financial Formulas purchased a new position in shares of Datadog during the fourth quarter valued at approximately $1,215,000. 78.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on DDOG. BNP Paribas started coverage on shares of Datadog in a research report on Tuesday, October 8th. They issued an "outperform" rating and a $150.00 price objective for the company. Wedbush raised Datadog from a "buy" rating to a "strong-buy" rating in a report on Thursday, October 17th. Loop Capital lifted their price target on Datadog from $160.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, December 23rd. Robert W. Baird boosted their price objective on Datadog from $140.00 to $150.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Finally, Monness Crespi & Hardt raised Datadog from a "neutral" rating to a "buy" rating and set a $155.00 target price for the company in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $158.45.

Insider Buying and Selling

In related news, Director Matthew Jacobson sold 3,393 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $125.03, for a total value of $424,226.79. Following the transaction, the director now owns 695,086 shares of the company's stock, valued at $86,906,602.58. This represents a 0.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Olivier Pomel sold 178,723 shares of Datadog stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $161.28, for a total value of $28,824,445.44. Following the sale, the chief executive officer now directly owns 379,693 shares of the company's stock, valued at approximately $61,236,887.04. This trade represents a 32.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 642,679 shares of company stock worth $92,155,421 over the last ninety days. 11.78% of the stock is owned by corporate insiders.

Datadog Trading Up 0.6 %

Shares of DDOG traded up $0.79 during mid-day trading on Friday, reaching $140.99. 2,884,911 shares of the stock traded hands, compared to its average volume of 2,608,238. The company has a market cap of $47.90 billion, a price-to-earnings ratio of 266.02, a price-to-earnings-growth ratio of 16.28 and a beta of 1.14. Datadog, Inc. has a 1 year low of $98.80 and a 1 year high of $170.08. The firm has a fifty day moving average price of $147.36 and a 200 day moving average price of $128.88.

Datadog Company 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.