Amalgamated Bank Has $2.12 Million Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Amalgamated Bank raised its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 5.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,346 shares of the company’s stock after buying an additional 1,123 shares during the period. Amalgamated Bank’s holdings in Datadog were worth $2,118,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Putney Financial Group LLC acquired a new stake in shares of Datadog during the fourth quarter worth approximately $32,000. Elequin Capital LP acquired a new stake in shares of Datadog during the fourth quarter worth approximately $34,000. Opal Wealth Advisors LLC acquired a new stake in shares of Datadog during the first quarter worth approximately $37,000. Center for Financial Planning Inc. increased its holdings in shares of Datadog by 1,189.7% during the first quarter. Center for Financial Planning Inc. now owns 374 shares of the company’s stock worth $37,000 after buying an additional 345 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of Datadog by 74.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 381 shares of the company’s stock worth $38,000 after buying an additional 162 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Insider Activity

In other Datadog news, CFO David M. Obstler sold 35,016 shares of Datadog stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $117.40, for a total value of $4,110,878.40. Following the sale, the chief financial officer owned 399,270 shares of the company’s stock, valued at $46,874,298. This trade represents a 8.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Matthew Jacobson sold 47,306 shares of Datadog stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $107.40, for a total value of $5,080,664.40. Following the completion of the sale, the director directly owned 25,468 shares in the company, valued at $2,735,263.20. This represents a 65.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 794,413 shares of company stock valued at $94,440,927. Company insiders own 8.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on DDOG. UBS Group raised their price target on shares of Datadog from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, June 11th. DA Davidson increased their price objective on Datadog from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, May 5th. Wells Fargo & Company decreased their price objective on Datadog from $140.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 7th. Scotiabank set a $130.00 price objective on Datadog and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Finally, Morgan Stanley decreased their price objective on Datadog from $143.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $143.03.

Datadog Stock Performance

DDOG stock opened at $155.60 on Monday. The business’s 50-day moving average price is $120.00 and its two-hundred day moving average price is $120.71. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.34. The firm has a market cap of $53.73 billion, a PE ratio of 338.26, a P/E/G ratio of 85.83 and a beta of 1.03. Datadog, Inc. has a 1-year low of $81.63 and a 1-year high of $170.08.

Datadog (NASDAQ:DDOG) last posted its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.04. The firm had revenue of $761.55 million for the quarter, compared to analyst estimates of $741.73 million. Datadog had a return on equity of 6.39% and a net margin of 5.85%. The company’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 earnings per share. As a group, research analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current year.

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.