B. Riley Wealth Advisors Inc. Decreases Stake in Datadog, Inc. (NASDAQ:DDOG)

B. Riley Wealth Advisors Inc. reduced its position in Datadog, Inc. (NASDAQ:DDOG) by 27.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,466 shares of the company’s stock after selling 932 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Datadog were worth $299,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Acadian Asset Management LLC grew its stake in Datadog by 8.7% in the third quarter. Acadian Asset Management LLC now owns 5,879 shares of the company’s stock worth $533,000 after purchasing an additional 470 shares in the last quarter. Mariner LLC lifted its holdings in Datadog by 45.8% during the third quarter. Mariner LLC now owns 13,916 shares of the company’s stock worth $1,268,000 after buying an additional 4,373 shares during the period. Parkside Financial Bank & Trust lifted its holdings in Datadog by 48.6% during the third quarter. Parkside Financial Bank & Trust now owns 523 shares of the company’s stock worth $48,000 after buying an additional 171 shares during the period. O Shaughnessy Asset Management LLC purchased a new stake in Datadog during the third quarter worth $405,000. Finally, Vinva Investment Management Ltd lifted its holdings in Datadog by 17.8% during the third quarter. Vinva Investment Management Ltd now owns 6,103 shares of the company’s stock worth $543,000 after buying an additional 924 shares during the period. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Datadog Price Performance

NASDAQ:DDOG opened at $123.19 on Thursday. Datadog, Inc. has a 52 week low of $77.81 and a 52 week high of $138.61. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $41.21 billion, a PE ratio of 384.97, a price-to-earnings-growth ratio of 39.22 and a beta of 1.09. The stock’s 50-day moving average price is $119.56 and its 200-day moving average price is $122.96.

Datadog (NASDAQ:DDOG) last posted its earnings results on Tuesday, May 7th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.20. Datadog had a return on equity of 7.48% and a net margin of 5.11%. The firm had revenue of $611.25 million for the quarter, compared to analysts’ expectations of $589.97 million. As a group, equities analysts expect that Datadog, Inc. will post 0.32 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel Kerry Acocella sold 5,955 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $120.09, for a total transaction of $715,135.95. Following the sale, the general counsel now directly owns 85,787 shares in the company, valued at approximately $10,302,160.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Matthew Jacobson sold 18,415 shares of Datadog stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $119.52, for a total value of $2,200,960.80. Following the sale, the director now directly owns 44,387 shares in the company, valued at approximately $5,305,134.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Kerry Acocella sold 5,955 shares of Datadog stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $120.09, for a total value of $715,135.95. Following the completion of the sale, the general counsel now owns 85,787 shares in the company, valued at $10,302,160.83. The disclosure for this sale can be found here. Insiders have sold 700,191 shares of company stock worth $82,508,981 in the last ninety days. Company insiders own 11.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DDOG. BMO Capital Markets lowered their target price on Datadog from $155.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, May 8th. Monness Crespi & Hardt restated a “sell” rating and set a $98.00 target price (down previously from $290.00) on shares of Datadog in a report on Friday, June 14th. Stifel Nicolaus reiterated a “buy” rating and set a $152.00 price objective on shares of Datadog in a report on Monday, April 22nd. Wedbush reiterated an “outperform” rating and set a $155.00 price objective on shares of Datadog in a report on Wednesday. Finally, Bank of America upgraded Datadog from a “neutral” rating to a “buy” rating and increased their price objective for the company from $143.00 to $155.00 in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Datadog presently has an average rating of “Moderate Buy” and an average price target of $136.04.

Datadog Company 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.