First Trust Direct Indexing L.P. Acquires Shares of 1,783 Datadog, Inc. (NASDAQ:DDOG)

First Trust Direct Indexing L.P. acquired a new stake in Datadog, Inc. (NASDAQ:DDOG) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,783 shares of the company’s stock, valued at approximately $216,000.

A number of other institutional investors have also recently bought and sold shares of DDOG. Anchor Investment Management LLC bought a new stake in Datadog in the 4th quarter valued at about $25,000. Private Trust Co. NA boosted its holdings in Datadog by 743.3% in the 4th 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 period. AM Squared Ltd bought a new stake in Datadog in the 3rd quarter valued at about $36,000. GAMMA Investing LLC bought a new stake in Datadog in the 4th quarter valued at about $45,000. Finally, Headinvest LLC bought a new stake in Datadog in the 3rd quarter valued at about $46,000. Institutional investors own 78.29% of the company’s stock.

Datadog Stock Up 4.3 %

Shares of NASDAQ DDOG opened at $117.28 on Thursday. The firm has a market cap of $38.92 billion, a PE ratio of 977.33 and a beta of 1.14. Datadog, Inc. has a 12-month low of $77.81 and a 12-month high of $138.61. The company’s fifty day simple moving average is $124.57 and its 200 day simple moving average is $119.16. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.37.

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

Insider Buying and Selling at Datadog

In other Datadog news, President Amit Agarwal sold 33,311 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $128.58, for a total value of $4,283,128.38. Following the transaction, the president now directly owns 294,012 shares of the company’s stock, valued at $37,804,062.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $135.10, for a total transaction of $17,171,885.50. Following the transaction, the chief technology officer now directly owns 247,328 shares of the company’s stock, valued at $33,414,012.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Amit Agarwal sold 33,311 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $128.58, for a total transaction of $4,283,128.38. Following the transaction, the president now directly owns 294,012 shares in the company, valued at $37,804,062.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 712,230 shares of company stock valued at $91,161,780. Corporate insiders own 11.78% of the company’s stock.

Analyst Upgrades and Downgrades

DDOG has been the subject of a number of recent research reports. Wolfe Research boosted their price objective on shares of Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, February 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $150.00 price target on shares of Datadog in a report on Wednesday, April 17th. Stifel Nicolaus reaffirmed a “buy” rating and set a $152.00 price target on shares of Datadog in a report on Monday, April 22nd. Wedbush reaffirmed an “outperform” rating and set a $155.00 price target on shares of Datadog in a report on Monday. Finally, William Blair reaffirmed an “outperform” rating on shares of Datadog in a report on Friday, February 16th. Four analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $135.58.

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.