Fortis Capital Management LLC Takes $208,000 Position in Datadog, Inc. (NASDAQ:DDOG)

Fortis Capital Management LLC purchased a new stake in Datadog, Inc. (NASDAQ:DDOG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,458 shares of the company’s stock, valued at approximately $208,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Allworth Financial LP grew its stake in Datadog by 7.7% in the 4th quarter. Allworth Financial LP now owns 1,043 shares of the company’s stock worth $146,000 after buying an additional 75 shares in the last quarter. Spire Wealth Management lifted its holdings in shares of Datadog by 21.4% during the 4th quarter. Spire Wealth Management now owns 453 shares of the company’s stock worth $65,000 after acquiring an additional 80 shares during the last quarter. Avior Wealth Management LLC grew its position 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 in the last quarter. Pathstone Holdings LLC increased its stake in Datadog by 0.4% in the third quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock valued at $2,664,000 after acquiring an additional 91 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in Datadog by 5.2% during the fourth quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company’s stock valued at $265,000 after purchasing an additional 92 shares in the last quarter. Institutional investors own 78.29% of the company’s stock.

Datadog Stock Performance

Shares of DDOG stock opened at $105.03 on Friday. The firm has a market cap of $36.00 billion, a P/E ratio of 205.95, a P/E/G ratio of 44.03 and a beta of 1.22. Datadog, Inc. has a fifty-two week low of $98.30 and a fifty-two week high of $170.08. The business’s 50 day moving average price is $126.97 and its 200-day moving average price is $130.85.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. As a group, equities analysts predict that Datadog, Inc. will post 0.34 EPS for the current year.

Insider Activity at Datadog

In related news, Director Shardul Shah sold 7,916 shares of Datadog stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $142.12, for a total transaction of $1,125,021.92. Following the sale, the director now directly owns 427,785 shares in the company, valued at $60,796,804.20. The trade was a 1.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Sean Michael Walters sold 8,454 shares of Datadog stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total value of $862,646.16. Following the sale, the executive now owns 185,871 shares in the company, valued at $18,966,276.84. This represents a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 626,412 shares of company stock worth $79,144,334 over the last ninety days. 11.78% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

DDOG has been the subject of a number of research reports. Jefferies Financial Group upped their price objective on Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Cantor Fitzgerald began coverage on Datadog in a report on Friday, January 17th. They set an “overweight” rating and a $180.00 price objective on the stock. Barclays decreased their price objective on Datadog from $187.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. DA Davidson raised their price objective on Datadog from $150.00 to $165.00 and gave the company a “buy” rating in a report on Monday, February 10th. Finally, JMP Securities reissued a “market perform” rating on shares of Datadog in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $158.70.

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.