Kingsview Wealth Management LLC Boosts Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Kingsview Wealth Management LLC raised its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,530 shares of the company’s stock after acquiring an additional 117 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Datadog were worth $1,648,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Apollon Wealth Management LLC acquired a new stake in Datadog during the 4th quarter worth $765,000. Ameliora Wealth Management Ltd. purchased a new position in shares of Datadog in the fourth quarter worth about $168,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Datadog by 79.2% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 63,114 shares of the company’s stock worth $9,018,000 after acquiring an additional 27,890 shares during the last quarter. YANKCOM Partnership purchased a new stake in Datadog during the 4th quarter valued at about $118,000. Finally, Choreo LLC raised its holdings in Datadog by 12.7% in the 4th quarter. Choreo LLC now owns 4,892 shares of the company’s stock valued at $704,000 after acquiring an additional 552 shares during the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Trading Up 3.1 %

Datadog stock opened at $147.10 on Tuesday. The firm has a market capitalization of $49.97 billion, a P/E ratio of 277.55, a P/E/G ratio of 16.83 and a beta of 1.15. The stock’s fifty day simple moving average is $147.06 and its 200-day simple moving average is $130.39. Datadog, Inc. has a twelve month low of $98.80 and a twelve month high of $170.08.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on DDOG shares. Stifel Nicolaus cut Datadog from a “buy” rating to a “hold” rating and lowered their target price for the stock from $165.00 to $140.00 in a report on Wednesday, January 29th. Truist Financial lowered Datadog from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $170.00 to $150.00 in a research note on Tuesday, January 7th. Monness Crespi & Hardt raised Datadog from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a research note on Thursday, November 7th. Mizuho boosted their price target on shares of Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, Rosenblatt Securities upped their price objective on shares of Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Datadog has a consensus rating of “Moderate Buy” and a consensus target price of $158.10.

Insiders Place Their Bets

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total transaction of $17,948,497.05. Following the completion of the transaction, the chief technology officer now directly owns 324,778 shares of the company’s stock, valued at approximately $45,861,901.38. The trade was a 28.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Olivier Pomel sold 178,723 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 379,693 shares in the company, 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 have sold a total of 777,586 shares of company stock worth $111,444,979 in the last quarter. 11.78% of the stock is owned by company insiders.

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.