Envestnet Portfolio Solutions Inc. Raises Stake in Datadog, Inc. (NASDAQ:DDOG)

Envestnet Portfolio Solutions Inc. lifted its stake in Datadog, Inc. (NASDAQ:DDOG) by 35.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,868 shares of the company’s stock after purchasing an additional 6,310 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Datadog were worth $3,410,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in DDOG. Allworth Financial LP increased its stake in shares of Datadog by 7.7% during the fourth quarter. Allworth Financial LP now owns 1,043 shares of the company’s stock valued at $146,000 after buying an additional 75 shares during the period. Spire Wealth Management grew its holdings in Datadog by 21.4% during the 4th quarter. Spire Wealth Management now owns 453 shares of the company’s stock worth $65,000 after acquiring an additional 80 shares in the last quarter. Avior Wealth Management LLC grew its holdings in Datadog by 55.9% during the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after acquiring an additional 81 shares in the last quarter. Pathstone Holdings LLC increased its position in Datadog by 0.4% during the 3rd 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, Farther Finance Advisors LLC raised its holdings in shares of Datadog by 5.2% in the 4th quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company’s stock valued at $265,000 after purchasing an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on DDOG shares. Barclays dropped their price objective on shares of Datadog from $187.00 to $180.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Jefferies Financial Group boosted their price target on Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. JMP Securities restated a “market perform” rating on shares of Datadog in a research note on Friday, February 14th. Rosenblatt Securities boosted their target price on shares of Datadog from $148.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Datadog currently has an average rating of “Moderate Buy” and a consensus price target of $158.70.

Insider Buying and Selling

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction on 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 sale, the chief technology officer now owns 324,778 shares of the company’s stock, valued at $45,861,901.38. This trade represents a 28.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Amit Agarwal sold 25,000 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $147.99, for a total value of $3,699,750.00. Following the completion of the transaction, the president now directly owns 195,667 shares in the company, valued at approximately $28,956,759.33. This trade represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 626,412 shares of company stock worth $79,144,334. Insiders own 11.78% of the company’s stock.

Datadog Trading Up 1.5 %

DDOG stock opened at $104.43 on Thursday. The firm has a 50-day moving average of $128.45 and a two-hundred day moving average of $130.99. Datadog, Inc. has a 12 month low of $98.30 and a 12 month high of $170.08. The company has a market cap of $35.79 billion, a price-to-earnings ratio of 204.77, a PEG ratio of 44.03 and a beta of 1.22.

Datadog (NASDAQ:DDOG) last announced 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 analysts forecast that Datadog, Inc. will post 0.34 earnings per share 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.