Premier Path Wealth Partners LLC Makes New Investment in Datadog, Inc. (NASDAQ:DDOG)

Premier Path Wealth Partners LLC bought a new stake in shares of Datadog, Inc. (NASDAQ:DDOG) in the second quarter, Holdings Channel reports. The institutional investor bought 1,714 shares of the company’s stock, valued at approximately $222,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Riverview Trust Co bought a new stake in shares of Datadog in the 1st quarter valued at approximately $26,000. Raleigh Capital Management Inc. purchased a new position in Datadog during the fourth quarter worth $29,000. Jones Financial Companies Lllp purchased a new position in Datadog during the fourth quarter worth $33,000. Quest Partners LLC bought a new position in Datadog during the fourth quarter valued at $36,000. Finally, Blue Trust Inc. purchased a new stake in shares of Datadog in the second quarter valued at $37,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $104.21, for a total transaction of $8,924,231.77. Following the sale, the chief executive officer now owns 405,314 shares in the company, valued at $42,237,771.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Olivier Pomel sold 85,637 shares of Datadog stock in a transaction on Monday, August 5th. The shares were sold at an average price of $104.21, for a total transaction of $8,924,231.77. Following the completion of the sale, the chief executive officer now directly owns 405,314 shares in the company, valued at $42,237,771.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO David M. Obstler sold 10,745 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $109.45, for a total transaction of $1,176,040.25. Following the sale, the chief financial officer now directly owns 325,028 shares in the company, valued at $35,574,314.60. The disclosure for this sale can be found here. Insiders have sold a total of 857,006 shares of company stock worth $101,040,823 in the last ninety days. 11.78% of the stock is owned by insiders.

Wall Street Analyst Weigh In

DDOG has been the topic of several analyst reports. Bank of America upgraded shares of Datadog from a “neutral” rating to a “buy” rating and upped their price target for the company from $143.00 to $155.00 in a report on Thursday, May 30th. BMO Capital Markets cut their target price on Datadog from $140.00 to $132.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Baird R W raised Datadog from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 8th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $146.00 price objective on shares of Datadog in a research report on Monday, May 6th. Finally, Loop Capital reiterated a “buy” rating and set a $160.00 target price on shares of Datadog in a research report on Friday, July 5th. Four research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $139.88.

Datadog Stock Up 1.4 %

DDOG stock traded up $1.61 during trading on Friday, reaching $117.23. 1,924,889 shares of the company traded hands, compared to its average volume of 4,029,559. The business has a 50 day simple moving average of $119.85 and a 200 day simple moving average of $122.23. Datadog, Inc. has a 12 month low of $77.81 and a 12 month high of $138.61. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.43 and a current ratio of 3.43. The company has a market capitalization of $39.21 billion, a price-to-earnings ratio of 366.34, a price-to-earnings-growth ratio of 37.24 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last announced its earnings results on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.06. The company had revenue of $645.28 million during the quarter, compared to the consensus estimate of $624.92 million. Datadog had a net margin of 5.11% and a return on equity of 7.48%. Datadog’s revenue was up 26.7% compared to the same quarter last year. During the same period last year, the firm earned $0.36 earnings per share. On average, equities research analysts anticipate that Datadog, Inc. will post 0.32 earnings per share for the current fiscal 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.