Sowell Financial Services LLC Takes $557,000 Position in Datadog, Inc. (NASDAQ:DDOG)

Sowell Financial Services LLC bought a new stake in shares of Datadog, Inc. (NASDAQ:DDOG) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,610 shares of the company’s stock, valued at approximately $557,000.

Other hedge funds also recently added to or reduced their stakes in the company. Putney Financial Group LLC purchased a new stake in Datadog in the fourth quarter worth about $32,000. Elequin Capital LP purchased a new stake in Datadog in the fourth quarter worth about $34,000. Opal Wealth Advisors LLC purchased a new stake in Datadog in the first quarter worth about $37,000. MassMutual Private Wealth & Trust FSB lifted its stake in Datadog by 74.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 381 shares of the company’s stock worth $38,000 after acquiring an additional 162 shares during the period. Finally, Coppell Advisory Solutions LLC lifted its stake in Datadog by 178.8% in the fourth quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company’s stock worth $40,000 after acquiring an additional 177 shares during the period. 78.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DDOG has been the subject of a number of recent research reports. Wells Fargo & Company reduced their target price 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. Royal Bank Of Canada reiterated an “outperform” rating and issued a $119.00 target price on shares of Datadog in a report on Wednesday, May 7th. Bank of America boosted their target price on shares of Datadog from $138.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley reduced their target price on shares of Datadog from $143.00 to $115.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Finally, Canaccord Genuity Group reduced their target price on shares of Datadog from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Six research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $142.52.

Insider Transactions at Datadog

In other news, General Counsel Kerry Acocella sold 5,099 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $116.84, for a total transaction of $595,767.16. Following the sale, the general counsel now owns 115,490 shares of the company’s stock, valued at $13,493,851.60. This trade represents a 4.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO David M. Obstler sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $125.25, for a total transaction of $2,505,000.00. Following the sale, the chief financial officer now directly owns 399,270 shares in the company, valued at $50,008,567.50. The trade was a 4.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 762,966 shares of company stock valued at $85,558,325 in the last 90 days. 8.70% of the stock is currently owned by company insiders.

Datadog Price Performance

Shares of NASDAQ:DDOG opened at $130.04 on Friday. Datadog, Inc. has a twelve month low of $81.63 and a twelve month high of $170.08. The company’s 50 day moving average is $110.65 and its 200 day moving average is $122.84. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.34. The company has a market cap of $44.91 billion, a PE ratio of 282.70, a price-to-earnings-growth ratio of 72.08 and a beta of 1.01.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.04. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The company had revenue of $761.55 million for the quarter, compared to the consensus estimate of $741.73 million. During the same quarter in the prior year, the company earned $0.44 EPS. Datadog’s quarterly revenue was up 24.6% on a year-over-year basis. On average, sell-side analysts forecast that Datadog, Inc. will post 0.34 EPS 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.