Envestnet Asset Management Inc. Acquires 14,719 Shares of Datadog, Inc. (NASDAQ:DDOG)

Envestnet Asset Management Inc. raised its holdings in Datadog, Inc. (NASDAQ:DDOG) by 5.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 263,994 shares of the company’s stock after acquiring an additional 14,719 shares during the quarter. Envestnet Asset Management Inc. owned about 0.08% of Datadog worth $19,182,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Industrial Alliance Investment Management Inc. boosted its position in shares of Datadog by 4.6% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 17,686 shares of the company’s stock worth $1,285,000 after purchasing an additional 771 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Datadog by 5.2% in the 1st quarter. Rhumbline Advisers now owns 322,737 shares of the company’s stock valued at $23,450,000 after acquiring an additional 15,974 shares during the last quarter. Robertson Stephens Wealth Management LLC acquired a new stake in shares of Datadog in the 1st quarter valued at approximately $153,000. Mount Yale Investment Advisors LLC boosted its stake in Datadog by 41.3% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 4,762 shares of the company’s stock worth $346,000 after acquiring an additional 1,393 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its stake in Datadog by 1.7% in the first quarter. Commonwealth Equity Services LLC now owns 306,028 shares of the company’s stock valued at $22,235,000 after purchasing an additional 5,143 shares in the last quarter. Institutional investors and hedge funds own 68.30% of the company’s stock.

Datadog Stock Up 1.3 %

Shares of DDOG opened at $97.73 on Friday. The firm has a market cap of $31.76 billion, a P/E ratio of -375.88, a price-to-earnings-growth ratio of 1,581.88 and a beta of 0.95. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.42 and a current ratio of 3.41. Datadog, Inc. has a 52 week low of $61.34 and a 52 week high of $118.02. The firm’s 50-day simple moving average is $100.65 and its 200 day simple moving average is $86.62.

Datadog (NASDAQ:DDOG) last posted its earnings results on Tuesday, August 8th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.28 by $0.08. The company had revenue of $509.46 million for the quarter, compared to the consensus estimate of $501.55 million. Datadog had a negative return on equity of 4.66% and a negative net margin of 4.38%. The firm’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 earnings per share.

Analyst Upgrades and Downgrades

A number of analysts recently commented on DDOG shares. Stifel Nicolaus cut shares of Datadog from a “buy” rating to a “hold” rating and lowered their price objective for the company from $115.00 to $90.00 in a research report on Tuesday, August 8th. Bank of America raised their target price on shares of Datadog from $110.00 to $130.00 in a report on Wednesday, July 26th. Royal Bank of Canada reduced their price target on shares of Datadog from $118.00 to $103.00 in a report on Wednesday, August 9th. Wedbush raised their price objective on shares of Datadog from $90.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, August 7th. Finally, Rosenblatt Securities upped their target price on shares of Datadog from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Six investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, Datadog currently has an average rating of “Moderate Buy” and a consensus price target of $107.45.

Insiders Place Their Bets

In other news, President Amit Agarwal sold 124,000 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $90.15, for a total value of $11,178,600.00. Following the completion of the sale, the president now owns 269,141 shares of the company’s stock, valued at $24,263,061.15. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $96.85, for a total value of $8,293,943.45. Following the sale, the chief executive officer now owns 336,486 shares of the company’s stock, valued at $32,588,669.10. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Amit Agarwal sold 124,000 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $90.15, for a total value of $11,178,600.00. Following the transaction, the president now directly owns 269,141 shares of the company’s stock, valued at $24,263,061.15. The disclosure for this sale can be found here. Insiders have sold 1,144,962 shares of company stock worth $109,526,963 in the last 90 days. Company insiders own 14.97% of the company’s stock.

Datadog Profile

Datadog, Inc operates an observability and security platform for cloud applications in North America and internationally. The company's products include infrastructure and application performance monitoring, log management, digital experience monitoring, continuous profiler, database monitoring, network monitoring, incident management, observability pipelines, cloud cost management, universal service monitoring, cloud security management, application security management.