Elevation Point Wealth Partners LLC Invests $392,000 in Datadog, Inc. (NASDAQ:DDOG)

Elevation Point Wealth Partners LLC acquired a new stake in shares of Datadog, Inc. (NASDAQ:DDOG) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,952 shares of the company’s stock, valued at approximately $392,000.

A number of other large investors have also recently made changes to their positions in DDOG. Groupama Asset Managment grew its holdings in Datadog by 407.6% during the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock worth $943,074,000 after acquiring an additional 5,299,688 shares during the period. Janus Henderson Group PLC boosted its position in Datadog by 17,477.2% in the 4th quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company’s stock worth $573,923,000 after purchasing an additional 3,993,707 shares in the last quarter. Norges Bank acquired a new stake in shares of Datadog during the 4th quarter worth approximately $462,910,000. Brown Advisory Inc. grew its stake in shares of Datadog by 2,804.2% during the 4th quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company’s stock worth $392,830,000 after purchasing an additional 2,654,512 shares during the period. Finally, Baillie Gifford & Co. increased its holdings in shares of Datadog by 15.8% during the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock valued at $1,558,234,000 after purchasing an additional 1,484,562 shares in the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on DDOG shares. Royal Bank of Canada reissued an “outperform” rating and set a $119.00 price target on shares of Datadog in a report on Wednesday, May 7th. Canaccord Genuity Group dropped their target price on Datadog from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. UBS Group lifted their price target on Datadog from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, June 11th. BTIG Research set a $136.00 price target on Datadog and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Finally, Scotiabank set a $130.00 price objective on Datadog and gave the company an “outperform” rating in a report on Wednesday, May 7th. Six investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $142.25.

Insider Transactions at Datadog

In other news, Director Amit Agarwal sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $119.46, for a total transaction of $2,986,500.00. Following the sale, the director now owns 54,356 shares of the company’s stock, valued at $6,493,367.76. This trade represents a 31.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Kerry Acocella sold 5,099 shares of Datadog stock in a transaction that occurred on 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 directly owns 115,490 shares in the company, valued at approximately $13,493,851.60. This represents a 4.23% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 725,582 shares of company stock valued at $80,913,097. Company insiders own 8.70% of the company’s stock.

Datadog Trading Up 1.2%

NASDAQ:DDOG opened at $121.93 on Tuesday. The company has a 50-day moving average of $108.71 and a 200-day moving average of $122.94. The firm has a market cap of $42.11 billion, a price-to-earnings ratio of 239.08, a price-to-earnings-growth ratio of 44.03 and a beta of 1.01. Datadog, Inc. has a twelve month low of $81.63 and a twelve month high of $170.08.

Datadog (NASDAQ:DDOG) last announced its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The company had revenue of $761.55 million for the quarter, compared to analyst estimates of $741.73 million. During the same period in the previous year, the firm earned $0.44 earnings per share. Datadog’s revenue for the quarter was up 24.6% compared to the same quarter last year. On average, research analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current year.

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.