FFT Wealth Management LLC Purchases Shares of 2,967 Datadog, Inc. (NASDAQ:DDOG)

FFT Wealth Management LLC acquired a new position in Datadog, Inc. (NASDAQ:DDOG) in the fourth quarter, HoldingsChannel reports. The firm acquired 2,967 shares of the company’s stock, valued at approximately $424,000.

Other institutional investors also recently made changes to their positions in the company. True Wealth Design LLC raised its position in Datadog by 12,000.0% in the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after purchasing an additional 240 shares during the period. Retirement Wealth Solutions LLC bought a new position in shares of Datadog during the fourth quarter valued at about $30,000. Avior Wealth Management LLC increased its holdings in shares of Datadog by 55.9% in 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 during the period. Meeder Asset Management Inc. lifted its stake in shares of Datadog by 66.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after acquiring an additional 115 shares during the last quarter. Finally, Quarry LP purchased a new stake in Datadog during the 3rd quarter valued at about $33,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Stock Performance

DDOG stock opened at $114.98 on Wednesday. The firm has a market capitalization of $39.06 billion, a price-to-earnings ratio of 225.46, a PEG ratio of 44.03 and a beta of 1.15. The firm has a 50 day moving average price of $140.58 and a 200-day moving average price of $131.97. Datadog, Inc. has a 52-week low of $98.80 and a 52-week high of $170.08.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share (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%. As a group, sell-side analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on DDOG. Stifel Nicolaus downgraded Datadog from a “buy” rating to a “hold” rating and lowered their price objective for the company from $165.00 to $140.00 in a research report on Wednesday, January 29th. Barclays lowered their price target on shares of Datadog from $187.00 to $180.00 and set an “overweight” rating for the company in a report on Friday, February 14th. DA Davidson increased their price target on shares of Datadog from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, February 10th. JMP Securities restated a “market perform” rating on shares of Datadog in a research report on Friday, February 14th. Finally, Scotiabank dropped their target price on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.70.

Insider Buying and Selling

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $142.78, for a total value of $18,148,051.90. Following the completion of the transaction, the chief technology officer now owns 324,778 shares in the company, valued at $46,371,802.84. The trade was a 28.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Kerry Acocella sold 2,488 shares of the stock in a transaction on 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 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. Insiders have sold a total of 556,674 shares of company stock worth $82,904,025 in the last quarter. 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.