Datadog, Inc. (NASDAQ:DDOG) Stake Raised by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC increased its holdings in Datadog, Inc. (NASDAQ:DDOG) by 1.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,883 shares of the company’s stock after buying an additional 137 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Datadog were worth $1,698,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in DDOG. Oppenheimer & Co. Inc. increased its holdings in shares of Datadog by 4.6% during the second quarter. Oppenheimer & Co. Inc. now owns 13,624 shares of the company’s stock valued at $1,767,000 after purchasing an additional 593 shares during the period. Parallel Advisors LLC increased its stake in Datadog by 3.5% during the 2nd quarter. Parallel Advisors LLC now owns 3,076 shares of the company’s stock valued at $399,000 after buying an additional 105 shares during the period. Envestnet Asset Management Inc. increased its stake in Datadog by 8.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 356,011 shares of the company’s stock valued at $46,171,000 after buying an additional 26,431 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Datadog by 10.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 306,402 shares of the company’s stock worth $39,735,000 after buying an additional 29,890 shares in the last quarter. Finally, Citizens Financial Group Inc. RI acquired a new stake in shares of Datadog in the 2nd quarter worth approximately $1,032,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DDOG has been the topic of several recent analyst reports. Citigroup boosted their target price on Datadog from $150.00 to $157.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Truist Financial downgraded Datadog from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $170.00 to $150.00 in a research note on Tuesday, January 7th. Stifel Nicolaus upped their price objective on Datadog from $141.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Robert W. Baird lifted their target price on Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Rosenblatt Securities boosted their price target on shares of Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Datadog has an average rating of “Moderate Buy” and an average target price of $157.46.

Datadog Price Performance

Shares of DDOG opened at $140.95 on Thursday. The business’s 50-day moving average is $145.36 and its 200-day moving average is $128.42. The company has a market capitalization of $47.88 billion, a price-to-earnings ratio of 265.95, a P/E/G ratio of 19.82 and a beta of 1.14. Datadog, Inc. has a fifty-two week low of $98.80 and a fifty-two week high of $170.08.

Insider Activity at Datadog

In other Datadog news, CEO Olivier Pomel sold 178,723 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $161.28, for a total value of $28,824,445.44. Following the transaction, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at $61,236,887.04. This represents a 32.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Kerry Acocella sold 2,488 shares of Datadog stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $158.04, for a total value of $393,203.52. Following the sale, the general counsel now owns 68,758 shares of the company’s stock, valued at approximately $10,866,514.32. This represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 609,763 shares of company stock valued at $87,543,649. 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.