NewEdge Wealth LLC Cuts Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

NewEdge Wealth LLC lessened its holdings in shares of Datadog, Inc. (NASDAQ:DDOGFree Report) by 5.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,723 shares of the company’s stock after selling 200 shares during the quarter. NewEdge Wealth LLC’s holdings in Datadog were worth $339,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. FCF Advisors LLC raised its holdings in shares of Datadog by 2.4% during the third quarter. FCF Advisors LLC now owns 4,790 shares of the company’s stock valued at $436,000 after acquiring an additional 114 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in Datadog by 2.1% in the second quarter. Ameritas Investment Partners Inc. now owns 6,430 shares of the company’s stock worth $633,000 after purchasing an additional 131 shares during the period. Yousif Capital Management LLC grew its stake in Datadog by 4.9% in the third quarter. Yousif Capital Management LLC now owns 3,083 shares of the company’s stock worth $281,000 after purchasing an additional 145 shares during the period. Park Avenue Securities LLC grew its stake in Datadog by 1.3% in the third quarter. Park Avenue Securities LLC now owns 11,410 shares of the company’s stock worth $1,039,000 after purchasing an additional 146 shares during the period. Finally, Flagship Harbor Advisors LLC grew its stake in Datadog by 6.9% in the third quarter. Flagship Harbor Advisors LLC now owns 2,339 shares of the company’s stock worth $213,000 after purchasing an additional 150 shares during the period. Institutional investors own 68.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DDOG. Citigroup upped their price target on Datadog from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, January 22nd. Raymond James upped their price target on Datadog from $95.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 8th. Needham & Company LLC increased their target price on Datadog from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, November 7th. BMO Capital Markets initiated coverage on Datadog in a research note on Tuesday, January 16th. They issued an “outperform” rating and a $140.00 target price on the stock. Finally, Truist Financial increased their target price on Datadog from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $114.87.

Get Our Latest Stock Report on Datadog

Insider Transactions at Datadog

In other news, President Amit Agarwal sold 11,037 shares of the firm’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $116.78, for a total value of $1,288,900.86. Following the transaction, the president now owns 247,071 shares of the company’s stock, valued at $28,852,951.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO David M. Obstler sold 10,000 shares of Datadog stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $108.37, for a total transaction of $1,083,700.00. Following the sale, the chief financial officer now owns 260,617 shares of the company’s stock, valued at approximately $28,243,064.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Amit Agarwal sold 11,037 shares of Datadog stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $116.78, for a total value of $1,288,900.86. Following the sale, the president now directly owns 247,071 shares in the company, valued at approximately $28,852,951.38. The disclosure for this sale can be found here. Insiders have sold 845,304 shares of company stock valued at $101,237,869 over the last quarter. 14.97% of the stock is currently owned by company insiders.

Datadog Stock Performance

DDOG stock opened at $131.45 on Friday. Datadog, Inc. has a fifty-two week low of $62.60 and a fifty-two week high of $137.93. The business’s 50-day moving average is $122.41 and its two-hundred day moving average is $105.40. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.35 and a quick ratio of 3.35.

Datadog (NASDAQ:DDOGGet Free Report) last posted its quarterly earnings data on Tuesday, November 7th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.01 by $0.06. Datadog had a negative return on equity of 1.39% and a negative net margin of 1.72%. The firm had revenue of $547.54 million for the quarter, compared to the consensus estimate of $523.30 million. On average, research analysts forecast that Datadog, Inc. will post 0.16 EPS for the current fiscal year.

Datadog Company Profile

(Free Report)

Datadog, Inc operates an observability and security platform for cloud applications in North America and internationally. The company's products include infrastructure and application performance monitoring, log management, digital experience monitoring, continuous profiler, database monitoring, network monitoring, incident management, observability pipelines, cloud cost management, universal service monitoring, cloud security management, application security management.

Further Reading

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Institutional Ownership by Quarter for Datadog (NASDAQ:DDOG)

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