RFG Advisory LLC Makes New Investment in Datadog, Inc. (NASDAQ:DDOG)

RFG Advisory LLC acquired a new position in Datadog, Inc. (NASDAQ:DDOG - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,039 shares of the company's stock, valued at approximately $291,000.

Several other hedge funds also recently added to or reduced their stakes in the business. True Wealth Design LLC boosted its holdings in Datadog by 12,000.0% in the third quarter. True Wealth Design LLC now owns 242 shares of the company's stock valued at $28,000 after purchasing an additional 240 shares during the period. Retirement Wealth Solutions LLC purchased a new position in Datadog in the fourth quarter valued at $30,000. Avior Wealth Management LLC boosted its holdings in Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock valued at $32,000 after purchasing an additional 81 shares during the period. Meeder Asset Management Inc. boosted its holdings in Datadog by 66.5% in the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company's stock valued at $33,000 after purchasing an additional 115 shares during the period. Finally, Quarry LP purchased a new position in Datadog in the third quarter valued at $33,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DDOG has been the subject of a number of recent research reports. Sanford C. Bernstein decreased their target price on Datadog from $157.00 to $151.00 and set an "outperform" rating for the company in a report on Monday, October 21st. Robert W. Baird lifted their target price on Datadog from $140.00 to $150.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Stifel Nicolaus lowered Datadog from a "buy" rating to a "hold" rating and decreased their target price for the company from $165.00 to $140.00 in a report on Wednesday. Cantor Fitzgerald assumed coverage on Datadog in a research note on Friday, January 17th. They issued an "overweight" rating and a $180.00 price target on the stock. Finally, Morgan Stanley restated an "equal weight" rating and issued a $143.00 price target on shares of Datadog in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $157.59.

Datadog Stock Performance

DDOG traded down $6.17 during trading on Wednesday, reaching $145.72. The company's stock had a trading volume of 7,952,590 shares, compared to its average volume of 4,064,948. Datadog, Inc. has a 52-week low of $98.80 and a 52-week high of $170.08. The company's fifty day moving average price is $148.05 and its 200-day moving average price is $129.18. The company has a market capitalization of $49.50 billion, a price-to-earnings ratio of 274.95, a price-to-earnings-growth ratio of 16.28 and a beta of 1.14.

Insider Buying and Selling at Datadog

In related news, General Counsel Kerry Acocella sold 2,488 shares of the company's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $158.04, for a total value of $393,203.52. Following the sale, the general counsel now owns 68,758 shares in the company, valued at $10,866,514.32. This represents a 3.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Amit Agarwal sold 150,000 shares of the company's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $126.03, for a total value of $18,904,500.00. Following the completion of the sale, the president now owns 214,275 shares in the company, valued at approximately $27,005,078.25. This represents a 41.18 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 653,874 shares of company stock valued at $93,721,154. 11.78% of the stock is owned by corporate insiders.

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.