Envestnet Portfolio Solutions Inc. Grows Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Envestnet Portfolio Solutions Inc. lifted its position in Datadog, Inc. (NASDAQ:DDOG) by 35.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,868 shares of the company’s stock after buying an additional 6,310 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Datadog were worth $3,410,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Allworth Financial LP increased its stake in Datadog by 7.7% during the fourth quarter. Allworth Financial LP now owns 1,043 shares of the company’s stock worth $146,000 after purchasing an additional 75 shares during the period. Spire Wealth Management grew its holdings in shares of Datadog by 21.4% in the fourth quarter. Spire Wealth Management now owns 453 shares of the company’s stock valued at $65,000 after purchasing an additional 80 shares in the last quarter. Avior Wealth Management LLC grew its holdings in shares of Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after purchasing an additional 81 shares in the last quarter. Pathstone Holdings LLC lifted its holdings in Datadog by 0.4% during the 3rd quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock worth $2,664,000 after buying an additional 91 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of Datadog by 5.2% in the fourth quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company’s stock worth $265,000 after acquiring an additional 92 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Stock Performance

NASDAQ:DDOG opened at $104.43 on Thursday. Datadog, Inc. has a 1 year low of $98.30 and a 1 year high of $170.08. The stock has a fifty day moving average price of $128.45 and a two-hundred day moving average price of $130.99. The stock has a market capitalization 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 results 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 net margin of 6.85% and a return on equity of 8.28%. On average, analysts predict that Datadog, Inc. will post 0.34 EPS for the current year.

Insider Activity

In other news, Director Shardul Shah sold 7,916 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $142.12, for a total value of $1,125,021.92. Following the completion of the transaction, the director now owns 427,785 shares in the company, valued at $60,796,804.20. This trade represents a 1.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Sean Michael Walters sold 8,454 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total transaction of $862,646.16. Following the completion of the sale, the executive now owns 185,871 shares in the company, valued at $18,966,276.84. This represents a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 626,412 shares of company stock worth $79,144,334. Company insiders own 11.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Rosenblatt Securities lifted their target price on Datadog from $148.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Truist Financial reduced their target price on shares of Datadog from $150.00 to $140.00 and set a “hold” rating on the stock in a report on Friday, February 14th. Citigroup lowered their price target on shares of Datadog from $170.00 to $165.00 and set a “buy” rating for the company in a report on Friday, February 14th. Cantor Fitzgerald initiated coverage on shares of Datadog in a report on Friday, January 17th. They issued an “overweight” rating and a $180.00 price objective on the stock. Finally, Wells Fargo & Company downgraded shares of Datadog from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $152.00 to $140.00 in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Datadog presently has a consensus rating of “Moderate Buy” and an average price target of $158.70.

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.