Global Trust Asset Management LLC Makes New Investment in Datadog, Inc. (NASDAQ:DDOG)

Global Trust Asset Management LLC purchased a new stake in shares of Datadog, Inc. (NASDAQ:DDOG) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,638 shares of the company’s stock, valued at approximately $450,000.

A number of other institutional investors have also made changes to their positions in the stock. Anchor Investment Management LLC acquired a new position in shares of Datadog in the fourth quarter valued at approximately $25,000. Raleigh Capital Management Inc. acquired a new position in Datadog during the 4th quarter worth approximately $29,000. Private Trust Co. NA grew its holdings in Datadog by 743.3% during the 4th quarter. Private Trust Co. NA now owns 253 shares of the company’s stock worth $31,000 after acquiring an additional 223 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in Datadog during the 4th quarter worth approximately $33,000. Finally, Quest Partners LLC acquired a new position in Datadog during the 4th quarter worth approximately $36,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DDOG has been the subject of several analyst reports. Barclays lowered their price target on shares of Datadog from $152.00 to $145.00 and set an “overweight” rating for the company in a report on Wednesday, May 8th. Rosenblatt Securities restated a “buy” rating and set a $146.00 price objective on shares of Datadog in a research report on Monday, May 6th. Robert W. Baird upgraded shares of Datadog from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $130.00 to $140.00 in a research report on Wednesday, May 8th. BMO Capital Markets reduced their price objective on shares of Datadog from $155.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, May 8th. Finally, Wedbush restated an “outperform” rating and set a $155.00 price objective on shares of Datadog in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $136.04.

Insider Transactions at Datadog

In other news, Director Matthew Jacobson sold 18,415 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $119.52, for a total transaction of $2,200,960.80. Following the transaction, the director now directly owns 44,387 shares of the company’s stock, valued at approximately $5,305,134.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $125.53, for a total value of $15,955,490.65. Following the sale, the chief technology officer now directly owns 290,412 shares of the company’s stock, valued at approximately $36,455,418.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Matthew Jacobson sold 18,415 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $119.52, for a total transaction of $2,200,960.80. Following the completion of the sale, the director now directly owns 44,387 shares in the company, valued at $5,305,134.24. The disclosure for this sale can be found here. Insiders have sold a total of 694,236 shares of company stock valued at $81,793,845 in the last ninety days. 11.78% of the stock is currently owned by company insiders.

Datadog Price Performance

Shares of NASDAQ:DDOG traded up $1.61 on Monday, reaching $119.18. 1,225,471 shares of the company were exchanged, compared to its average volume of 4,123,195. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.34. Datadog, Inc. has a 1-year low of $77.81 and a 1-year high of $138.61. The firm has a market cap of $39.87 billion, a price-to-earnings ratio of 374.91, a price-to-earnings-growth ratio of 45.23 and a beta of 1.09. The company has a 50-day moving average of $119.86 and a 200-day moving average of $122.90.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.20. Datadog had a net margin of 5.11% and a return on equity of 7.48%. The business had revenue of $611.25 million for the quarter, compared to analysts’ expectations of $589.97 million. Equities analysts forecast that Datadog, Inc. will post 0.27 earnings per share for the current fiscal year.

Datadog 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.