Avantax Advisory Services Inc. Has $1.61 Million Stake in Datadog, Inc. (NASDAQ:DDOG)

Avantax Advisory Services Inc. lifted its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 76.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,270 shares of the company's stock after purchasing an additional 4,900 shares during the period. Avantax Advisory Services Inc.'s holdings in Datadog were worth $1,610,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in DDOG. Forge First Asset Management Inc. acquired a new stake in Datadog during the 4th quarter worth $3,170,000. Great Lakes Advisors LLC increased its holdings in shares of Datadog by 96.4% in the fourth quarter. Great Lakes Advisors LLC now owns 5,503 shares of the company's stock worth $786,000 after acquiring an additional 2,701 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Datadog by 5.2% during the fourth quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company's stock worth $265,000 after purchasing an additional 92 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in shares of Datadog by 38.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 2,936 shares of the company's stock valued at $420,000 after purchasing an additional 822 shares in the last quarter. Finally, HighTower Advisors LLC grew its position in shares of Datadog by 11.3% in the 4th quarter. HighTower Advisors LLC now owns 44,156 shares of the company's stock valued at $6,310,000 after purchasing an additional 4,481 shares during the period. 78.29% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling

In related news, Director Shardul Shah sold 7,916 shares of Datadog stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $142.12, for a total value of $1,125,021.92. Following the transaction, the director now directly owns 427,785 shares of the company's stock, valued at $60,796,804.20. The trade was a 1.82 % 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, CRO Sean Michael Walters sold 8,454 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total transaction of $862,646.16. Following the sale, the executive now directly owns 185,871 shares of the company's stock, valued at $18,966,276.84. This represents a 4.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 626,412 shares of company stock valued at $79,144,334 over the last 90 days. 11.78% of the stock is owned by insiders.

Datadog Stock Up 1.5 %

Datadog stock traded up $1.50 during trading hours on Wednesday, hitting $104.43. The stock had a trading volume of 3,146,491 shares, compared to its average volume of 4,062,744. The business's 50 day simple moving average is $129.20 and its 200-day simple moving average is $131.18. Datadog, Inc. has a one year low of $98.30 and a one year high of $170.08. The stock has a market cap of $35.79 billion, a price-to-earnings ratio of 204.77, a P/E/G ratio of 44.03 and a beta of 1.22.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported $0.13 EPS 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%. Research analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DDOG has been the subject of several research reports. Barclays lowered their price objective on shares of Datadog from $187.00 to $180.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. Rosenblatt Securities boosted their price target on Datadog from $148.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Stifel Nicolaus lowered Datadog from a "buy" rating to a "hold" rating and dropped their target price for the company from $165.00 to $140.00 in a research report on Wednesday, January 29th. Guggenheim reaffirmed a "neutral" rating on shares of Datadog in a research report on Wednesday, January 22nd. Finally, Citigroup lowered their price objective on shares of Datadog from $170.00 to $165.00 and set a "buy" rating on the stock in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $158.70.

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.