Bridges Investment Management Inc. Makes New Investment in Datadog, Inc. (NASDAQ:DDOG)

Bridges Investment Management Inc. bought a new position in Datadog, Inc. (NASDAQ:DDOG) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,484 shares of the company’s stock, valued at approximately $355,000.

Other hedge funds have also modified their holdings of the company. Retirement Wealth Solutions LLC acquired a new stake in shares of Datadog in the fourth quarter worth approximately $30,000. Avior Wealth Management LLC boosted 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 worth $32,000 after acquiring an additional 81 shares during the last quarter. True Wealth Design LLC boosted its position in shares of Datadog by 12,000.0% in the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after acquiring an additional 240 shares during the last quarter. Meeder Asset Management Inc. boosted its position in shares of Datadog by 66.5% in the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after acquiring an additional 115 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of Datadog in the third quarter worth approximately $33,000. 78.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, President Amit Agarwal sold 25,000 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $147.99, for a total transaction of $3,699,750.00. Following the completion of the transaction, the president now owns 195,667 shares of the company’s stock, valued at approximately $28,956,759.33. The trade was a 11.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Olivier Pomel sold 178,723 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $161.28, for a total transaction 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 approximately $61,236,887.04. This trade represents a 32.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 556,674 shares of company stock valued at $82,904,025 over the last 90 days. 11.78% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DDOG. Truist Financial decreased their target price on shares of Datadog from $150.00 to $140.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. Royal Bank of Canada raised their price target on shares of Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Rosenblatt Securities raised their price target on shares of Datadog from $148.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Scotiabank cut their price target on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. Finally, Wolfe Research lowered shares of Datadog from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Datadog currently has an average rating of “Moderate Buy” and an average price target of $158.70.

Datadog Trading Down 2.9 %

Shares of NASDAQ:DDOG opened at $113.17 on Tuesday. The firm has a market cap of $38.45 billion, a PE ratio of 221.91, a price-to-earnings-growth ratio of 44.03 and a beta of 1.15. The company has a fifty day simple moving average of $137.83 and a 200 day simple moving average of $131.97. Datadog, Inc. has a 12-month low of $98.80 and a 12-month high of $170.08.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. As a group, equities research analysts forecast that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

About Datadog

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.