Datadog, Inc. (NASDAQ:DDOG) Shares Purchased by Sit Investment Associates Inc.

Sit Investment Associates Inc. raised its stake in Datadog, Inc. (NASDAQ:DDOG) by 4.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,825 shares of the company’s stock after acquiring an additional 1,225 shares during the period. Sit Investment Associates Inc.’s holdings in Datadog were worth $3,833,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Retirement Wealth Solutions LLC acquired a new stake in shares of Datadog in the 4th quarter worth about $30,000. Avior Wealth Management LLC boosted its stake in Datadog by 55.9% during the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after purchasing an additional 81 shares during the period. Quarry LP bought a new position in Datadog in the 3rd quarter worth about $33,000. Kieckhefer Group LLC acquired a new stake in shares of Datadog in the fourth quarter valued at approximately $43,000. Finally, Summit Securities Group LLC bought a new stake in shares of Datadog during the fourth quarter valued at approximately $43,000. 78.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on DDOG. Truist Financial lowered their target price on Datadog from $140.00 to $120.00 and set a “hold” rating on the stock in a research report on Monday, March 31st. Guggenheim reissued a “neutral” rating on shares of Datadog in a report on Wednesday, January 22nd. Jefferies Financial Group reduced their price objective on shares of Datadog from $170.00 to $150.00 and set a “buy” rating for the company in a report on Monday, March 31st. DA Davidson raised their target price on shares of Datadog from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Finally, Barclays reduced their price target on shares of Datadog from $187.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. One equities 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’s stock. Based on data from MarketBeat.com, Datadog presently has a consensus rating of “Moderate Buy” and an average price target of $157.22.

Datadog Price Performance

NASDAQ:DDOG opened at $87.93 on Monday. The stock has a market cap of $30.14 billion, a PE ratio of 172.42, a price-to-earnings-growth ratio of 44.03 and a beta of 1.20. Datadog, Inc. has a fifty-two week low of $82.71 and a fifty-two week high of $170.08. The stock’s 50-day moving average is $119.52 and its two-hundred day moving average is $130.45.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a net margin of 6.85% and a return on equity of 8.28%. On average, equities research analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current year.

Insider Activity

In related news, Director Amit Agarwal sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $141.12, for a total value of $3,528,000.00. Following the completion of the sale, the director now owns 195,667 shares of the company’s stock, valued at approximately $27,612,527.04. The trade was a 11.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $102.15, for a total transaction of $12,983,775.75. Following the completion of the sale, the chief technology officer now owns 371,865 shares of the company’s stock, valued at $37,986,009.75. This trade represents a 25.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 601,412 shares of company stock worth $75,444,584 in the last ninety days. Corporate insiders own 11.78% of the company’s stock.

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.