SVB Wealth LLC Invests $7.11 Million in Datadog, Inc. (NASDAQ:DDOG)

SVB Wealth LLC bought a new stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 49,733 shares of the company's stock, valued at approximately $7,106,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. True Wealth Design LLC boosted its position in Datadog by 12,000.0% during the third quarter. True Wealth Design LLC now owns 242 shares of the company's stock worth $28,000 after purchasing an additional 240 shares during the period. Retirement Wealth Solutions LLC bought a new position in Datadog during the fourth quarter worth $30,000. Avior Wealth Management LLC boosted its position in Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock worth $32,000 after purchasing an additional 81 shares during the period. Meeder Asset Management Inc. boosted its position in Datadog by 66.5% during the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company's stock worth $33,000 after purchasing an additional 115 shares during the period. Finally, Quarry LP bought a new position in Datadog during the third quarter worth $33,000. 78.29% of the stock is owned by institutional investors.

Insider Transactions at Datadog

In other Datadog news, Director Shardul Shah sold 7,916 shares of the business's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $155.25, for a total value of $1,228,959.00. Following the transaction, the director now directly owns 435,701 shares of the company's stock, valued at approximately $67,642,580.25. The trade was a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Kerry Acocella sold 2,488 shares of the business's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $158.04, for a total value of $393,203.52. Following the completion of the transaction, the general counsel now directly owns 68,758 shares in the company, valued at approximately $10,866,514.32. This trade represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 556,674 shares of company stock worth $82,904,025. Insiders own 11.78% of the company's stock.

Datadog Stock Performance

Shares of NASDAQ:DDOG traded down $3.38 during midday trading on Monday, hitting $113.17. 4,205,290 shares of the stock were exchanged, compared to its average volume of 3,981,869. The stock has a market capitalization of $38.45 billion, a price-to-earnings ratio of 221.91, a P/E/G ratio of 44.03 and a beta of 1.15. The business's 50-day moving average price is $137.83 and its 200 day moving average price is $131.97. Datadog, Inc. has a 12 month low of $98.80 and a 12 month high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. As a group, sell-side analysts expect that Datadog, Inc. will post 0.34 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on DDOG shares. Jefferies Financial Group lifted their price objective on shares of Datadog from $155.00 to $170.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Morgan Stanley reissued an "equal weight" rating and set a $143.00 target price on shares of Datadog in a report on Thursday, January 16th. Wolfe Research downgraded Datadog from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. TD Cowen reissued a "buy" rating and set a $165.00 target price on shares of Datadog in a report on Tuesday, November 19th. Finally, Wells Fargo & Company downgraded Datadog from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $152.00 to $140.00 in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Datadog currently has an average rating of "Moderate Buy" and a consensus price target of $158.70.

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.