Principal Securities Inc. Has $1.18 Million Holdings in Datadog, Inc. (NASDAQ:DDOG)

Principal Securities Inc. lifted its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 32.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,260 shares of the company’s stock after purchasing an additional 2,009 shares during the quarter. Principal Securities Inc.’s holdings in Datadog were worth $1,180,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Roxbury Financial LLC acquired a new position in shares of Datadog during the fourth quarter worth approximately $73,000. Nations Financial Group Inc. IA ADV raised its position in shares of Datadog by 2.8% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 4,771 shares of the company’s stock worth $682,000 after purchasing an additional 130 shares during the period. Blue Trust Inc. raised its position in shares of Datadog by 354.7% during the fourth quarter. Blue Trust Inc. now owns 2,451 shares of the company’s stock worth $350,000 after purchasing an additional 1,912 shares during the period. AustralianSuper Pty Ltd raised its position in shares of Datadog by 35.7% during the fourth quarter. AustralianSuper Pty Ltd now owns 5,869 shares of the company’s stock worth $839,000 after purchasing an additional 1,545 shares during the period. Finally, Compagnie Lombard Odier SCmA raised its position in shares of Datadog by 4.3% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 378,895 shares of the company’s stock worth $54,140,000 after purchasing an additional 15,750 shares during the period. 78.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DDOG has been the topic of a number of research reports. Scotiabank lowered their target price on Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. DA Davidson upped their target price on Datadog from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Guggenheim reiterated a “neutral” rating on shares of Datadog in a report on Wednesday, January 22nd. TD Cowen reiterated a “buy” rating and set a $165.00 price target on shares of Datadog in a report on Tuesday, November 19th. Finally, Wolfe Research downgraded Datadog from an “outperform” rating to a “peer perform” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $158.39.

Datadog Stock Performance

DDOG stock opened at $128.85 on Thursday. The company has a market capitalization of $43.77 billion, a price-to-earnings ratio of 252.65, a PEG ratio of 15.23 and a beta of 1.15. Datadog, Inc. has a fifty-two week low of $98.80 and a fifty-two week high of $170.08. The stock has a fifty day moving average of $143.45 and a 200-day moving average of $131.51.

Datadog (NASDAQ:DDOG) last posted 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%. Equities analysts predict that Datadog, Inc. will post 0.58 EPS for the current year.

Insider Buying and Selling

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $142.78, for a total transaction of $18,148,051.90. Following 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Kerry Acocella sold 2,488 shares of the stock in a transaction dated 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 directly owns 68,758 shares in the company, valued at $10,866,514.32. This trade represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 556,674 shares of company stock valued at $82,904,025. Corporate insiders own 11.78% of the company’s stock.

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.