HB Wealth Management LLC Purchases 1,062 Shares of Datadog, Inc. (NASDAQ:DDOG)

HB Wealth Management LLC boosted its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 43.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,490 shares of the company’s stock after purchasing an additional 1,062 shares during the quarter. HB Wealth Management LLC’s holdings in Datadog were worth $346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of Datadog by 887.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 25,199 shares of the company’s stock worth $25,000 after purchasing an additional 22,646 shares in the last quarter. Cornerstone Planning Group LLC lifted its stake in shares of Datadog by 96.9% in the 1st quarter. Cornerstone Planning Group LLC now owns 313 shares of the company’s stock valued at $30,000 after purchasing an additional 154 shares during the last quarter. Putney Financial Group LLC acquired a new position in shares of Datadog in the 4th quarter valued at $32,000. Elequin Capital LP acquired a new position in shares of Datadog in the 4th quarter valued at $34,000. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Datadog in the 1st quarter valued at $37,000. 78.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO David M. Obstler sold 15,000 shares of Datadog stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $147.43, for a total value of $2,211,450.00. Following the completion of the sale, the chief financial officer owned 399,270 shares of the company’s stock, valued at $58,864,376.10. The trade was a 3.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shardul Shah sold 7,924 shares of the business’s stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $140.80, for a total value of $1,115,699.20. Following the sale, the director directly owned 380,281 shares of the company’s stock, valued at approximately $53,543,564.80. This trade represents a 2.04% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 968,861 shares of company stock valued at $119,264,653. 8.70% of the stock is currently owned by company insiders.

Datadog Stock Performance

Datadog stock opened at $135.60 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.74 and a current ratio of 2.74. The stock has a fifty day moving average of $133.30 and a two-hundred day moving average of $121.01. The company has a market capitalization of $46.83 billion, a price-to-earnings ratio of 294.79, a PEG ratio of 76.98 and a beta of 1.02. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $170.08.

Datadog (NASDAQ:DDOG) last released 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. The company had revenue of $761.55 million during the quarter, compared to the consensus estimate of $741.73 million. Datadog had a return on equity of 6.39% and a net margin of 5.85%. Datadog’s revenue was up 24.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 earnings per share. On average, analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. UBS Group upped their price target on Datadog from $140.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. Wolfe Research upgraded Datadog from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective on the stock in a report on Thursday, June 12th. Stifel Nicolaus increased their price objective on Datadog from $120.00 to $135.00 and gave the company a “hold” rating in a report on Thursday, June 26th. BTIG Research set a $136.00 target price on Datadog and gave the company a “buy” rating in a research report on Tuesday, May 6th. Finally, Wedbush reissued an “outperform” rating and issued a $140.00 target price on shares of Datadog in a research report on Wednesday, June 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $146.79.

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.