Spire Wealth Management Boosts Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Spire Wealth Management grew its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 2,148.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,329 shares of the company’s stock after buying an additional 5,092 shares during the quarter. Spire Wealth Management’s holdings in Datadog were worth $694,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Anchor Investment Management LLC bought a new position in Datadog during the 4th quarter worth approximately $25,000. Private Trust Co. NA increased its stake in Datadog by 743.3% during the fourth quarter. Private Trust Co. NA now owns 253 shares of the company’s stock valued at $31,000 after purchasing an additional 223 shares during the last quarter. AM Squared Ltd acquired a new stake in shares of Datadog during the third quarter worth $36,000. GAMMA Investing LLC bought a new position in shares of Datadog in the 4th quarter worth about $45,000. Finally, Headinvest LLC acquired a new position in shares of Datadog in the 3rd quarter valued at about $46,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Wedbush reissued an “outperform” rating and issued a $155.00 target price on shares of Datadog in a report on Monday. Citigroup raised their target price on Datadog from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. Royal Bank of Canada boosted their price target on Datadog from $145.00 to $151.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 14th. BMO Capital Markets lowered their price target on Datadog from $155.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $165.00 price objective on shares of Datadog in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, Datadog currently has a consensus rating of “Moderate Buy” and an average price target of $135.58.

Datadog Stock Performance

Shares of DDOG opened at $115.87 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.17 and a quick ratio of 3.17. Datadog, Inc. has a one year low of $77.81 and a one year high of $138.61. The company’s fifty day moving average price is $124.30 and its 200 day moving average price is $119.14. The company has a market capitalization of $38.45 billion, a PE ratio of 965.58 and a beta of 1.14.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The company had revenue of $589.65 million for the quarter, compared to the consensus estimate of $568.73 million. During the same period in the previous year, the business posted ($0.08) EPS. The company’s revenue for the quarter was up 25.6% on a year-over-year basis. As a group, analysts expect that Datadog, Inc. will post -0.14 earnings per share for the current year.

Insider Activity

In related news, CEO Olivier Pomel sold 19,226 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $130.06, for a total transaction of $2,500,533.56. Following the transaction, the chief executive officer now directly owns 299,075 shares in the company, valued at $38,897,694.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Datadog news, insider Madre Armelle De sold 300 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $113.37, for a total value of $34,011.00. Following the sale, the insider now directly owns 100,053 shares in the company, valued at $11,343,008.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Olivier Pomel sold 19,226 shares of Datadog stock in a transaction on Monday, February 26th. The shares were sold at an average price of $130.06, for a total value of $2,500,533.56. Following the transaction, the chief executive officer now directly owns 299,075 shares of the company’s stock, valued at $38,897,694.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 712,530 shares of company stock valued at $91,195,791. Insiders own 11.78% of the company’s stock.

About Datadog

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.