Western Pacific Wealth Management LP Takes $77,000 Position in Datadog, Inc. (NASDAQ:DDOG)

Western Pacific Wealth Management LP purchased a new position in Datadog, Inc. (NASDAQ:DDOG) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 539 shares of the company’s stock, valued at approximately $77,000.

Several other large investors have also recently modified their holdings of DDOG. True Wealth Design LLC raised its position in Datadog by 12,000.0% in the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after purchasing an additional 240 shares during the period. Retirement Wealth Solutions LLC purchased a new stake in shares of Datadog in the 4th quarter worth $30,000. Avior Wealth Management LLC lifted its stake in Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after acquiring an additional 81 shares during the period. Meeder Asset Management Inc. boosted its stake in shares of Datadog by 66.5% during the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after purchasing an additional 115 shares in the last quarter. Finally, Quarry LP purchased a new position in shares of Datadog in the 3rd quarter valued at $33,000. Institutional investors own 78.29% of the company’s stock.

Datadog Stock Up 0.1 %

NASDAQ:DDOG opened at $142.71 on Friday. The stock has a market capitalization of $48.48 billion, a price-to-earnings ratio of 269.27, a price-to-earnings-growth ratio of 16.94 and a beta of 1.14. Datadog, Inc. has a 52 week low of $98.80 and a 52 week high of $170.08. The stock’s fifty day moving average is $147.99 and its two-hundred day moving average is $129.48.

Insider Activity at Datadog

In other news, CEO Olivier Pomel sold 178,723 shares of Datadog stock in a transaction on Monday, December 9th. The shares were sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the completion of the sale, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at approximately $61,236,887.04. The trade was a 32.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew Jacobson sold 3,393 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $125.03, for a total value of $424,226.79. Following the transaction, the director now directly owns 695,086 shares of the company’s stock, valued at approximately $86,906,602.58. This represents a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 653,874 shares of company stock worth $93,721,154 in the last three months. 11.78% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on DDOG shares. Sanford C. Bernstein reduced their price objective on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. Morgan Stanley reaffirmed an “equal weight” rating and set a $143.00 target price on shares of Datadog in a report on Thursday, January 16th. BNP Paribas initiated coverage on shares of Datadog in a report on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 price target on the stock. Guggenheim reaffirmed a “neutral” rating on shares of Datadog in a research note on Wednesday, January 22nd. Finally, Scotiabank lowered their price target on Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $157.59.

Datadog Company 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.