Retirement Wealth Solutions LLC Acquires New Position in Datadog, Inc. (NASDAQ:DDOG)

Retirement Wealth Solutions LLC bought a new position in shares of Datadog, Inc. (NASDAQ:DDOG) during the fourth quarter, HoldingsChannel.com reports. The firm bought 216 shares of the company’s stock, valued at approximately $30,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DDOG. Envestnet Asset Management Inc. grew its position in shares of Datadog by 8.0% in the second quarter. Envestnet Asset Management Inc. now owns 356,011 shares of the company’s stock valued at $46,171,000 after purchasing an additional 26,431 shares during the period. Dimensional Fund Advisors LP grew its holdings in Datadog by 10.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 306,402 shares of the company’s stock valued at $39,735,000 after buying an additional 29,890 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings in Datadog by 156.3% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 9,208 shares of the company’s stock valued at $1,196,000 after buying an additional 5,615 shares during the period. Amalgamated Bank increased its stake in shares of Datadog by 6.5% during the 2nd quarter. Amalgamated Bank now owns 20,202 shares of the company’s stock valued at $2,620,000 after acquiring an additional 1,236 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Datadog by 3.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,423 shares of the company’s stock worth $1,999,000 after acquiring an additional 486 shares during the period. 78.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Matthew Jacobson sold 3,393 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $125.03, for a total transaction of $424,226.79. Following the completion of the transaction, the director now directly owns 695,086 shares in the company, valued at $86,906,602.58. This represents a 0.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Olivier Pomel sold 178,723 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $161.28, for a total value of $28,824,445.44. Following the completion of the sale, the chief executive officer now owns 379,693 shares in the company, valued at $61,236,887.04. The trade was a 32.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 617,679 shares of company stock worth $88,668,671 over the last ninety days. 11.78% of the stock is owned by insiders.

Datadog Stock Performance

NASDAQ:DDOG opened at $138.40 on Friday. The company has a market capitalization of $47.02 billion, a price-to-earnings ratio of 261.14, a price-to-earnings-growth ratio of 16.31 and a beta of 1.14. The stock has a 50-day simple moving average of $145.75 and a 200 day simple moving average of $128.57. Datadog, Inc. has a one year low of $98.80 and a one year high of $170.08.

Analysts Set New Price Targets

Several brokerages recently commented on DDOG. Robert W. Baird upped their price target on shares of Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Barclays upped their price objective on Datadog from $155.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Morgan Stanley reissued an “equal weight” rating and set a $143.00 price target on shares of Datadog in a research report on Thursday. Monness Crespi & Hardt upgraded Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a research note on Thursday, November 7th. Finally, DA Davidson lifted their price objective on Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Datadog currently has an average rating of “Moderate Buy” and a consensus price target of $158.45.

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.