Beacon Pointe Advisors LLC Raises Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Beacon Pointe Advisors LLC lifted its stake in Datadog, Inc. (NASDAQ:DDOG) by 29.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,877 shares of the company’s stock after buying an additional 1,113 shares during the period. Beacon Pointe Advisors LLC’s holdings in Datadog were worth $592,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Yousif Capital Management LLC grew its stake in Datadog by 4.9% during the 3rd quarter. Yousif Capital Management LLC now owns 3,083 shares of the company’s stock worth $281,000 after buying an additional 145 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Datadog by 3.3% in the 3rd quarter. Teacher Retirement System of Texas now owns 19,513 shares of the company’s stock valued at $1,777,000 after acquiring an additional 618 shares during the period. Orion Portfolio Solutions LLC raised its position in Datadog by 7.1% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 4,566 shares of the company’s stock valued at $416,000 after purchasing an additional 304 shares during the last quarter. M&T Bank Corp boosted its stake in Datadog by 2.7% during the 3rd quarter. M&T Bank Corp now owns 9,202 shares of the company’s stock worth $838,000 after purchasing an additional 246 shares during the period. Finally, Principal Financial Group Inc. grew its position in Datadog by 371.1% during the 3rd quarter. Principal Financial Group Inc. now owns 153,768 shares of the company’s stock worth $14,007,000 after purchasing an additional 121,131 shares during the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Datadog Trading Down 0.5 %

Shares of DDOG stock opened at $122.12 on Friday. The company has a market capitalization of $40.85 billion, a price-to-earnings ratio of 381.63, a PEG ratio of 47.66 and a beta of 1.14. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.34. The firm has a 50-day moving average price of $123.15 and a 200 day moving average price of $121.76. Datadog, Inc. has a twelve month low of $77.81 and a twelve month high of $138.61.

Insider Transactions at Datadog

In related news, COO Adam Blitzer sold 20,892 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $128.58, for a total transaction of $2,686,293.36. Following the sale, the chief operating officer now owns 203,503 shares in the company, valued at $26,166,415.74. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Datadog news, COO Adam Blitzer sold 20,892 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $128.58, for a total value of $2,686,293.36. Following the completion of the transaction, the chief operating officer now directly owns 203,503 shares in the company, valued at approximately $26,166,415.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $118.52, for a total value of $15,064,484.60. Following the sale, the chief technology officer now owns 290,412 shares in the company, valued at approximately $34,419,630.24. The disclosure for this sale can be found here. Insiders sold a total of 712,402 shares of company stock worth $89,071,727 over the last ninety days. 11.78% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DDOG. William Blair reiterated an “outperform” rating on shares of Datadog in a research note on Friday, February 16th. JMP Securities upgraded Datadog to a “hold” rating in a research note on Wednesday, May 8th. Wolfe Research lifted their price objective on shares of Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, February 14th. Cantor Fitzgerald restated an “overweight” rating and set a $150.00 price objective on shares of Datadog in a research report on Wednesday, April 17th. Finally, Baird R W raised shares of Datadog from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 8th. Five research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $135.58.

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.