K.J. Harrison & Partners Inc Takes $863,000 Position in Datadog, Inc. (NASDAQ:DDOG)

K.J. Harrison & Partners Inc purchased a new position in Datadog, Inc. (NASDAQ:DDOG) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 6,008 shares of the company’s stock, valued at approximately $863,000.

Other hedge funds have also recently bought and sold shares of the company. Allworth Financial LP increased its stake in shares of 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 grew its holdings in Datadog by 21.4% during the 4th 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 increased its position 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 holdings in shares of Datadog by 0.4% in the third quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock worth $2,664,000 after acquiring an additional 91 shares during the last quarter. Finally, Parsons Capital Management Inc. RI lifted its position in shares of Datadog by 2.0% in the fourth 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. 78.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Monness Crespi & Hardt upgraded Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a research report on Thursday, November 7th. BMO Capital Markets raised their price objective on Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Stifel Nicolaus cut Datadog from a “buy” rating to a “hold” rating and decreased their target price for the stock from $165.00 to $140.00 in a report on Wednesday, January 29th. Barclays cut their price target on shares of Datadog from $187.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Finally, Macquarie reiterated an “outperform” rating and set a $200.00 price objective on shares of Datadog in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $158.70.

Insider Transactions at Datadog

In other Datadog news, CEO Olivier Pomel sold 178,723 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $161.28, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Kerry Acocella sold 2,488 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $158.04, for a total transaction of $393,203.52. Following the sale, the general counsel now directly owns 68,758 shares in the company, valued at $10,866,514.32. This trade represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 556,674 shares of company stock valued at $82,904,025. Insiders own 11.78% of the company’s stock.

Datadog Trading Down 1.4 %

Datadog stock opened at $113.37 on Thursday. Datadog, Inc. has a 52 week low of $98.80 and a 52 week high of $170.08. The stock has a market cap of $38.51 billion, a P/E ratio of 222.30, a price-to-earnings-growth ratio of 44.03 and a beta of 1.15. The stock has a 50 day moving average of $139.84 and a 200-day moving average of $131.84.

Datadog (NASDAQ:DDOG) last posted its quarterly 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 net margin of 6.85% and a return on equity of 8.28%. As a group, equities analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

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.