Forum Financial Management LP Buys New Shares in Datadog, Inc. (NASDAQ:DDOG)

Forum Financial Management LP purchased a new stake in shares of Datadog, Inc. (NASDAQ:DDOG) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,922 shares of the company’s stock, valued at approximately $275,000.

Several other large investors have also made changes to their positions in DDOG. Retirement Wealth Solutions LLC bought a new position in Datadog in the 4th quarter worth approximately $30,000. Avior Wealth Management LLC grew its stake in Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after acquiring an additional 81 shares in the last quarter. Kieckhefer Group LLC purchased a new stake in Datadog in the 4th quarter worth $43,000. Summit Securities Group LLC purchased a new position in shares of Datadog during the fourth quarter valued at about $43,000. Finally, Friedenthal Financial bought a new stake in shares of Datadog in the fourth quarter worth about $54,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Datadog Price Performance

Shares of NASDAQ DDOG opened at $88.92 on Tuesday. The business has a fifty day moving average price of $105.57 and a 200 day moving average price of $128.11. Datadog, Inc. has a 1-year low of $81.63 and a 1-year high of $170.08. The stock has a market capitalization of $30.48 billion, a P/E ratio of 174.36, a price-to-earnings-growth ratio of 44.03 and a beta of 1.20.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data 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 return on equity of 8.28% and a net margin of 6.85%. As a group, equities research analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Truist Financial reduced their price objective on Datadog from $140.00 to $120.00 and set a “hold” rating on the stock in a research note on Monday, March 31st. Rosenblatt Securities increased their price objective on shares of Datadog from $148.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Royal Bank of Canada boosted their target price on shares of Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Loop Capital increased their price target on shares of Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Finally, Wells Fargo & Company downgraded Datadog from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $152.00 to $140.00 in a research report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $150.33.

Insider Transactions at Datadog

In other Datadog news, CEO Olivier Pomel sold 107,365 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $109.56, for a total value of $11,762,909.40. Following the completion of the transaction, the chief executive officer now owns 435,793 shares of the company’s stock, valued at approximately $47,745,481.08. This trade represents a 19.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $142.78, for a total transaction of $18,148,051.90. Following the sale, the chief technology officer now directly owns 324,778 shares in the company, valued at $46,371,802.84. This trade represents a 28.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 548,756 shares of company stock valued at $62,219,250 in the last quarter. 11.78% of the stock is currently owned by corporate 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.