Simplicity Wealth LLC Takes Position in Datadog, Inc. (NASDAQ:DDOG)

Simplicity Wealth LLC purchased a new stake in shares of Datadog, Inc. (NASDAQ:DDOG) in the 1st quarter, Holdings Channel reports. The fund purchased 3,182 shares of the company’s stock, valued at approximately $393,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Spire Wealth Management increased its position in shares of Datadog by 2,148.5% during the 4th quarter. Spire Wealth Management now owns 5,329 shares of the company’s stock valued at $694,000 after purchasing an additional 5,092 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Datadog during the 3rd quarter valued at approximately $189,668,000. Quintet Private Bank Europe S.A. bought a new position in shares of Datadog during the 3rd quarter valued at approximately $270,000. Mengis Capital Management Inc. bought a new position in shares of Datadog during the 3rd quarter valued at approximately $409,000. Finally, Zevenbergen Capital Investments LLC grew its stake in shares of Datadog by 5.6% during the 4th quarter. Zevenbergen Capital Investments LLC now owns 165,405 shares of the company’s stock valued at $20,077,000 after acquiring an additional 8,830 shares during the period. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Trading Up 0.3 %

NASDAQ:DDOG traded up $0.42 during midday trading on Wednesday, hitting $122.75. 1,628,419 shares of the company traded hands, compared to its average volume of 4,168,329. The firm’s fifty day moving average is $123.16 and its 200-day moving average is $121.76. Datadog, Inc. has a 12-month low of $77.81 and a 12-month high of $138.61. The firm has a market capitalization of $41.06 billion, a P/E ratio of 383.59, a P/E/G ratio of 47.26 and a beta of 1.14. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.34.

Insiders Place Their Bets

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $118.52, for a total value of $15,064,484.60. Following the sale, the chief technology officer now owns 290,412 shares in the company, valued at $34,419,630.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Datadog news, President Amit Agarwal sold 33,311 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $128.58, for a total value of $4,283,128.38. Following the sale, the president now owns 294,012 shares in the company, valued at $37,804,062.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $118.52, for a total value of $15,064,484.60. Following the completion of the sale, the chief technology officer now owns 290,412 shares in the company, valued at approximately $34,419,630.24. The disclosure for this sale can be found here. Insiders have sold a total of 712,402 shares of company stock worth $89,071,727 over the last quarter. Company insiders own 11.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on DDOG shares. Royal Bank of Canada boosted their price objective on Datadog from $145.00 to $151.00 and gave the company an “outperform” rating in a research note on Wednesday, February 14th. Baird R W upgraded Datadog from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $150.00 price target on shares of Datadog in a research note on Wednesday, April 17th. Stifel Nicolaus restated a “buy” rating and issued a $152.00 price target on shares of Datadog in a research note on Monday, April 22nd. Finally, JMP Securities upgraded Datadog to a “hold” rating in a research note on Wednesday, May 8th. Five research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.