LPL Financial LLC Buys 38,937 Shares of Datadog, Inc. (NASDAQ:DDOG)

LPL Financial LLC grew its stake in Datadog, Inc. (NASDAQ:DDOG) by 34.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 152,243 shares of the company’s stock after buying an additional 38,937 shares during the period. LPL Financial LLC’s holdings in Datadog were worth $21,754,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Townsquare Capital LLC raised its holdings in Datadog by 50.5% during the 3rd quarter. Townsquare Capital LLC now owns 2,871 shares of the company’s stock worth $330,000 after purchasing an additional 963 shares during the last quarter. Freedom Investment Management Inc. bought a new position in Datadog during the third quarter worth $419,000. CreativeOne Wealth LLC acquired a new position in Datadog in the third quarter valued at $302,000. Rockefeller Capital Management L.P. boosted its position in Datadog by 3.5% during the third quarter. Rockefeller Capital Management L.P. now owns 15,172 shares of the company’s stock valued at $1,746,000 after acquiring an additional 511 shares during the last quarter. Finally, Captrust Financial Advisors grew its holdings in Datadog by 16.5% during the 3rd quarter. Captrust Financial Advisors now owns 9,513 shares of the company’s stock worth $1,095,000 after acquiring an additional 1,349 shares during the period. 78.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $141.21, for a total transaction of $17,948,497.05. Following the completion of the sale, the chief technology officer now owns 324,778 shares in the company, valued at $45,861,901.38. This trade represents a 28.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Sean Michael Walters sold 8,454 shares of Datadog stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total transaction of $862,646.16. Following the completion of the sale, the executive now directly owns 185,871 shares in the company, valued at $18,966,276.84. This trade represents a 4.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 601,412 shares of company stock worth $75,444,584. Insiders own 11.78% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on DDOG. Needham & Company LLC restated a “buy” rating and set a $160.00 target price on shares of Datadog in a research report on Tuesday, March 4th. JMP Securities restated a “market perform” rating on shares of Datadog in a report on Friday, February 14th. Guggenheim reiterated a “neutral” rating on shares of Datadog in a research note on Wednesday, January 22nd. Royal Bank of Canada increased their target price on shares of Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, Barclays decreased their price target on shares of Datadog from $187.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $158.70.

Datadog Stock Down 3.6 %

Shares of NASDAQ DDOG opened at $101.10 on Monday. The company has a market capitalization of $34.65 billion, a PE ratio of 198.24, a PEG ratio of 44.03 and a beta of 1.22. The stock’s 50 day moving average price is $123.79 and its 200-day moving average price is $130.95. Datadog, Inc. has a twelve month low of $98.30 and a twelve month high of $170.08.

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

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.