Atria Wealth Solutions Inc. Sells 32,562 Shares of Datadog, Inc. (NASDAQ:DDOG)

Atria Wealth Solutions Inc. decreased its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 76.4% in the 1st quarter, Holdings Channel reports. The fund owned 10,064 shares of the company’s stock after selling 32,562 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Datadog were worth $998,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Costello Asset Management INC acquired a new position in Datadog during the 1st quarter worth approximately $30,000. New Age Alpha Advisors LLC boosted its position in Datadog by 100.0% during the 1st quarter. New Age Alpha Advisors LLC now owns 20,000 shares of the company’s stock worth $1,984,000 after acquiring an additional 10,000 shares during the last quarter. Thoroughbred Financial Services LLC boosted its position in Datadog by 31.5% during the 1st quarter. Thoroughbred Financial Services LLC now owns 4,120 shares of the company’s stock worth $408,000 after acquiring an additional 988 shares during the last quarter. Westfield Capital Management Co. LP boosted its position in Datadog by 13.1% during the 1st quarter. Westfield Capital Management Co. LP now owns 640,549 shares of the company’s stock worth $63,549,000 after acquiring an additional 74,141 shares during the last quarter. Finally, Geneva Capital Management LLC acquired a new position in Datadog during the 1st quarter worth approximately $7,650,000. Institutional investors own 78.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on DDOG shares. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Datadog in a research report on Friday. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $119.00 target price on shares of Datadog in a research report on Wednesday, May 7th. Morgan Stanley raised their target price on shares of Datadog from $115.00 to $165.00 and gave the company an “equal weight” rating in a research report on Thursday, July 10th. Macquarie decreased their target price on shares of Datadog from $175.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Finally, BTIG Research set a $136.00 target price on shares of Datadog and gave the company a “buy” rating in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $151.72.

Datadog Stock Performance

DDOG opened at $128.81 on Tuesday. The business has a fifty day simple moving average of $135.40 and a 200 day simple moving average of $120.54. The company has a market capitalization of $44.48 billion, a PE ratio of 368.02, a price-to-earnings-growth ratio of 69.33 and a beta of 1.02. Datadog, Inc. has a 1 year low of $81.63 and a 1 year high of $170.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.43 and a quick ratio of 2.74.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.05. The business had revenue of $826.76 million during the quarter, compared to the consensus estimate of $791.72 million. Datadog had a return on equity of 5.04% and a net margin of 4.13%. The firm’s quarterly revenue was up 28.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.43 EPS. Research analysts expect that Datadog, Inc. will post 0.34 EPS for the current year.

Insider Buying and Selling at Datadog

In related news, CTO Alexis Le-Quoc sold 41,468 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $134.47, for a total transaction of $5,576,201.96. Following the sale, the chief technology officer owned 452,769 shares of the company’s stock, valued at $60,883,847.43. This represents a 8.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Olivier Pomel sold 11,195 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $150.82, for a total value of $1,688,429.90. Following the sale, the chief executive officer directly owned 548,715 shares in the company, valued at $82,757,196.30. This represents a 2.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 835,918 shares of company stock valued at $106,308,669 over the last ninety days. 8.70% of the stock is owned by corporate insiders.

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.