SVB Wealth LLC Invests $7.11 Million in Datadog, Inc. (NASDAQ:DDOG)

SVB Wealth LLC purchased a new position in Datadog, Inc. (NASDAQ:DDOG) in the fourth quarter, Holdings Channel reports. The fund purchased 49,733 shares of the company’s stock, valued at approximately $7,106,000.

A number of other hedge funds have also made changes to their positions in the stock. Allworth Financial LP raised its position in shares of Datadog by 7.7% in the fourth quarter. Allworth Financial LP now owns 1,043 shares of the company’s stock valued at $146,000 after purchasing an additional 75 shares during the period. Spire Wealth Management raised its position in shares of Datadog by 21.4% in the fourth quarter. Spire Wealth Management now owns 453 shares of the company’s stock valued at $65,000 after purchasing an additional 80 shares during the period. Avior Wealth Management LLC raised its position in shares of Datadog by 55.9% in the fourth 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. Pathstone Holdings LLC raised its position in shares of Datadog by 0.4% in the third quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock valued at $2,664,000 after purchasing an additional 91 shares during the period. Finally, Parkside Financial Bank & Trust raised its position in shares of Datadog by 16.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 663 shares of the company’s stock valued at $95,000 after purchasing an additional 94 shares during the period. 78.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DDOG. Royal Bank of Canada raised their price objective on shares of Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Cantor Fitzgerald began coverage on shares of Datadog in a research note on Friday, January 17th. They issued an “overweight” rating and a $180.00 price objective on the stock. Loop Capital raised their price objective on shares of Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Mizuho raised their price objective on shares of Datadog from $155.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, Robert W. Baird raised their price objective on shares of Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. One 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 assigned a strong buy rating to the stock. According to data from MarketBeat, Datadog has a consensus rating of “Moderate Buy” and an average price target of $158.70.

Insider Activity at Datadog

In other Datadog news, Director Shardul Shah sold 7,916 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $155.25, for a total transaction of $1,228,959.00. Following the completion of the sale, the director now directly owns 435,701 shares of the company’s stock, valued at approximately $67,642,580.25. The trade was a 1.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction dated 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 sale, the chief technology officer now directly owns 324,778 shares of the company’s stock, valued at $46,371,802.84. This represents a 28.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 556,674 shares of company stock valued at $82,904,025 over the last ninety days. 11.78% of the stock is owned by insiders.

Datadog Stock Up 2.7 %

Datadog stock opened at $116.57 on Friday. The stock has a 50-day simple moving average of $138.51 and a 200 day simple moving average of $131.74. Datadog, Inc. has a 12-month low of $98.80 and a 12-month high of $170.08. The stock has a market capitalization of $39.60 billion, a price-to-earnings ratio of 228.57, a P/E/G ratio of 44.03 and a beta of 1.15.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results 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 anticipate that Datadog, Inc. will post 0.34 EPS for the current year.

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.