Datadog, Inc. (NASDAQ:DDOG) Stake Boosted by Park Avenue Securities LLC

Park Avenue Securities LLC grew its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 16.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,815 shares of the company’s stock after acquiring an additional 2,655 shares during the period. Park Avenue Securities LLC’s holdings in Datadog were worth $1,867,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Putney Financial Group LLC purchased a new position in shares of Datadog during the 4th quarter valued at $32,000. Elequin Capital LP purchased a new position in shares of Datadog during the 4th quarter valued at $34,000. Coppell Advisory Solutions LLC grew its holdings in shares of Datadog by 178.8% during the 4th quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company’s stock valued at $40,000 after acquiring an additional 177 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of Datadog during the 4th quarter valued at $43,000. Finally, Itau Unibanco Holding S.A. grew its holdings in shares of Datadog by 417.7% during the 4th quarter. Itau Unibanco Holding S.A. now owns 321 shares of the company’s stock valued at $46,000 after acquiring an additional 259 shares in the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Datadog

In related news, General Counsel Kerry Acocella sold 5,099 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $116.84, for a total value of $595,767.16. Following the completion of the sale, the general counsel now owns 115,490 shares in the company, valued at approximately $13,493,851.60. This trade represents a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $119.96, for a total transaction of $15,247,515.80. Following the completion of the sale, the chief technology officer now owns 452,769 shares of the company’s stock, valued at approximately $54,314,169.24. The trade was a 21.92% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 593,217 shares of company stock worth $64,859,203. Company insiders own 8.70% of the company’s stock.

Datadog Price Performance

Datadog stock opened at $119.91 on Wednesday. The firm has a fifty day moving average price of $106.04 and a two-hundred day moving average price of $124.06. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $170.08. The firm has a market cap of $41.41 billion, a price-to-earnings ratio of 235.12, a P/E/G ratio of 44.03 and a beta of 1.01.

Datadog (NASDAQ:DDOG) last released its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.04. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The business had revenue of $761.55 million during the quarter, compared to analysts’ expectations of $741.73 million. During the same quarter last year, the company earned $0.44 earnings per share. The firm’s revenue was up 24.6% on a year-over-year basis. As a group, sell-side analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

DDOG has been the topic of several research analyst reports. Canaccord Genuity Group lowered their price target on shares of Datadog from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Stifel Nicolaus set a $120.00 price objective on shares of Datadog in a report on Tuesday, May 6th. Wedbush decreased their price objective on shares of Datadog from $155.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Wells Fargo & Company decreased their price objective on shares of Datadog from $140.00 to $115.00 and set an “equal weight” rating for the company in a report on Wednesday, May 7th. Finally, DA Davidson upped their price objective on shares of Datadog from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Seven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $141.04.

Datadog 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.