FFT Wealth Management LLC Buys New Position in Datadog, Inc. (NASDAQ:DDOG)

FFT Wealth Management LLC bought a new position in shares of Datadog, Inc. (NASDAQ:DDOG) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,967 shares of the company’s stock, valued at approximately $424,000.

Several other large investors have also added to or reduced their stakes in the business. Allworth Financial LP increased its holdings in Datadog by 7.7% during the 4th quarter. Allworth Financial LP now owns 1,043 shares of the company’s stock worth $146,000 after purchasing an additional 75 shares in the last quarter. Spire Wealth Management boosted its position in shares of Datadog by 21.4% during the fourth quarter. Spire Wealth Management now owns 453 shares of the company’s stock valued at $65,000 after buying an additional 80 shares during the last quarter. Avior Wealth Management LLC grew its holdings in Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after buying an additional 81 shares in the last quarter. Pathstone Holdings LLC raised its position in Datadog by 0.4% in the 3rd quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock valued at $2,664,000 after buying an additional 91 shares during the last quarter. Finally, Parsons Capital Management Inc. RI lifted its stake in Datadog by 2.0% during the 4th quarter. Parsons Capital Management Inc. RI now owns 4,943 shares of the company’s stock valued at $706,000 after acquiring an additional 96 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Stock Down 2.2 %

Shares of DDOG opened at $114.98 on Wednesday. The business’s 50-day moving average price is $140.58 and its 200-day moving average price is $131.97. Datadog, Inc. has a twelve month low of $98.80 and a twelve month high of $170.08. The stock has a market cap of $39.06 billion, a PE ratio of 225.46, a P/E/G ratio of 44.03 and a beta of 1.15.

Datadog (NASDAQ:DDOG) last posted its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. Analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Amit Agarwal sold 25,000 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $139.47, for a total transaction of $3,486,750.00. Following the sale, the director now owns 195,667 shares in the company, valued at approximately $27,289,676.49. This trade represents a 11.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Olivier Pomel sold 178,723 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the completion of the transaction, the chief executive officer now owns 379,693 shares of the company’s stock, valued at $61,236,887.04. This trade represents a 32.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 556,674 shares of company stock worth $82,904,025 over the last ninety days. 11.78% of the stock is owned by corporate insiders.

Analyst Ratings Changes

DDOG has been the subject of several recent analyst reports. Rosenblatt Securities upped their target price on shares of Datadog from $148.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Wells Fargo & Company downgraded shares of Datadog from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $152.00 to $140.00 in a research report on Thursday, February 13th. Truist Financial dropped their target price on shares of Datadog from $150.00 to $140.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. TD Cowen reaffirmed a “buy” rating and issued a $165.00 target price on shares of Datadog in a report on Tuesday, November 19th. Finally, Barclays dropped their price target on Datadog from $187.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $158.70.

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.