Sanctuary Advisors LLC Raises Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Sanctuary Advisors LLC raised its position in Datadog, Inc. (NASDAQ:DDOG) by 5.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 15,817 shares of the company’s stock after purchasing an additional 799 shares during the period. Sanctuary Advisors LLC’s holdings in Datadog were worth $2,256,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP grew its holdings in Datadog by 7.7% during the fourth quarter. Allworth Financial LP now owns 1,043 shares of the company’s stock worth $146,000 after acquiring an additional 75 shares during the period. Spire Wealth Management grew its holdings in Datadog by 21.4% during the fourth quarter. Spire Wealth Management now owns 453 shares of the company’s stock worth $65,000 after acquiring an additional 80 shares during the period. 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 acquiring an additional 81 shares during the period. Pathstone Holdings LLC grew its holdings in Datadog by 0.4% during 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 period. Finally, Parsons Capital Management Inc. RI grew its holdings in Datadog by 2.0% during the fourth quarter. Parsons Capital Management Inc. RI now owns 4,943 shares of the company’s stock worth $706,000 after acquiring an additional 96 shares during the period. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on DDOG. Morgan Stanley reaffirmed an “equal weight” rating and set a $143.00 price objective on shares of Datadog in a report on Thursday, January 16th. Scotiabank dropped their price target on Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. Stifel Nicolaus cut Datadog from a “buy” rating to a “hold” rating and dropped their price target for the company from $165.00 to $140.00 in a research report on Wednesday, January 29th. Loop Capital raised their price target on Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Finally, Rosenblatt Securities raised their price target on Datadog from $148.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Datadog presently has a consensus rating of “Moderate Buy” and an average target price of $158.39.

Datadog Price Performance

DDOG opened at $119.67 on Friday. The stock has a market capitalization of $40.66 billion, a price-to-earnings ratio of 234.66, a price-to-earnings-growth ratio of 44.03 and a beta of 1.15. Datadog, Inc. has a 12 month low of $98.80 and a 12 month high of $170.08. The business has a 50-day moving average of $142.18 and a two-hundred day moving average of $131.76.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share 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%. Equities research analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current year.

Insider Activity

In other news, President Amit Agarwal sold 25,000 shares of Datadog stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $147.99, for a total value of $3,699,750.00. Following the transaction, the president now directly owns 195,667 shares of the company’s stock, valued at $28,956,759.33. The trade was a 11.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 completion of the transaction, the general counsel now directly owns 68,758 shares in the company, valued at $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. Insiders have sold 556,674 shares of company stock valued at $82,904,025 in the last three months. Corporate insiders own 11.78% of the company’s stock.

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.