Private Wealth Partners LLC Takes $1.22 Million Position in Datadog, Inc. (NASDAQ:DDOG)

Private Wealth Partners LLC acquired a new position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 8,560 shares of the company's stock, valued at approximately $1,223,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Good Life Advisors LLC purchased a new position in shares of Datadog during the 4th quarter valued at approximately $262,000. Global Retirement Partners LLC increased its stake in shares of Datadog by 73.6% in the 4th quarter. Global Retirement Partners LLC now owns 637 shares of the company's stock worth $91,000 after acquiring an additional 270 shares during the last quarter. Atria Wealth Solutions Inc. increased its stake in shares of Datadog by 450.8% in the 4th quarter. Atria Wealth Solutions Inc. now owns 42,626 shares of the company's stock worth $6,091,000 after acquiring an additional 34,887 shares during the last quarter. Venturi Wealth Management LLC increased its stake in shares of Datadog by 82.1% in the 4th quarter. Venturi Wealth Management LLC now owns 1,415 shares of the company's stock worth $202,000 after acquiring an additional 638 shares during the last quarter. Finally, Truist Financial Corp increased its stake in shares of Datadog by 14.5% in the 4th quarter. Truist Financial Corp now owns 42,971 shares of the company's stock worth $6,140,000 after acquiring an additional 5,435 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company's stock.

Datadog Stock Performance

Shares of DDOG traded down $6.57 during midday trading on Friday, hitting $119.67. The company had a trading volume of 6,980,028 shares, compared to its average volume of 6,008,824. The company's 50-day simple moving average is $142.18 and its 200-day simple moving average is $131.76. The firm has a market capitalization of $40.66 billion, a P/E ratio of 234.66, a P/E/G ratio of 44.03 and a beta of 1.15. Datadog, Inc. has a 1 year low of $98.80 and a 1 year high of $170.08.

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

Insider Buying and Selling

In related news, CEO Olivier Pomel sold 178,723 shares of the business's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the completion of the sale, the chief executive officer now owns 379,693 shares in the company, valued at $61,236,887.04. The trade was a 32.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $142.78, for a total value of $18,148,051.90. Following the completion of the sale, the chief technology officer now owns 324,778 shares of the company's stock, valued at approximately $46,371,802.84. This represents a 28.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 556,674 shares of company stock worth $82,904,025 over the last 90 days. 11.78% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on DDOG shares. Barclays cut their target price on Datadog from $187.00 to $180.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. Loop Capital raised their price objective on Datadog from $160.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, December 23rd. Robert W. Baird raised 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. Stifel Nicolaus downgraded Datadog from a "buy" rating to a "hold" rating and cut their price objective for the stock from $165.00 to $140.00 in a research report on Wednesday, January 29th. Finally, Guggenheim reissued a "neutral" rating on shares of Datadog in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $158.39.

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.