IMA Wealth Inc. Has $4.32 Million Stock Position in Datadog, Inc. (NASDAQ:DDOG)

IMA Wealth Inc. reduced its position in Datadog, Inc. (NASDAQ:DDOG) by 5.8% in the 4th quarter, HoldingsChannel reports. The firm owned 35,554 shares of the company’s stock after selling 2,171 shares during the period. Datadog makes up about 2.2% of IMA Wealth Inc.’s portfolio, making the stock its 12th largest position. IMA Wealth Inc.’s holdings in Datadog were worth $4,316,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA acquired a new stake in Datadog during the third quarter worth approximately $189,668,000. Quintet Private Bank Europe S.A. bought a new position in Datadog in the third quarter valued at approximately $270,000. Mengis Capital Management Inc. bought a new position in Datadog in the third quarter valued at approximately $409,000. Bank of New York Mellon Corp increased its stake in Datadog by 2.5% in the third quarter. Bank of New York Mellon Corp now owns 1,378,534 shares of the company’s stock valued at $125,571,000 after acquiring an additional 33,748 shares during the last quarter. Finally, Cercano Management LLC increased its stake in Datadog by 40.4% in the third quarter. Cercano Management LLC now owns 309,560 shares of the company’s stock valued at $28,198,000 after acquiring an additional 89,019 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Datadog

In other news, CEO Olivier Pomel sold 133,315 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $129.82, for a total value of $17,306,953.30. Following the transaction, the chief executive officer now owns 299,075 shares of the company’s stock, valued at approximately $38,825,916.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Olivier Pomel sold 133,315 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $129.82, for a total transaction of $17,306,953.30. Following the transaction, the chief executive officer now owns 299,075 shares of the company’s stock, valued at approximately $38,825,916.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO David M. Obstler sold 15,000 shares of the stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $130.28, for a total transaction of $1,954,200.00. Following the transaction, the chief financial officer now directly owns 275,191 shares in the company, valued at approximately $35,851,883.48. The disclosure for this sale can be found here. Insiders have sold 759,908 shares of company stock valued at $97,728,997 in the last quarter. Insiders own 14.97% of the company’s stock.

Analyst Upgrades and Downgrades

DDOG has been the topic of a number of recent analyst reports. Mizuho lifted their price objective on shares of Datadog from $108.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. William Blair reaffirmed an “outperform” rating on shares of Datadog in a research note on Friday, February 16th. Royal Bank of Canada boosted their target price on shares of Datadog from $145.00 to $151.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 14th. Needham & Company LLC boosted their target price on shares of Datadog from $125.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $152.00 price objective on shares of Datadog in a research report on Monday, April 22nd. Five investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.70.

Datadog Price Performance

NASDAQ DDOG traded up $6.20 on Friday, hitting $131.45. The stock had a trading volume of 5,116,602 shares, compared to its average volume of 2,961,442. The firm has a 50-day moving average of $125.25 and a 200-day moving average of $117.01. The company has a market capitalization of $43.62 billion, a price-to-earnings ratio of 1,095.42 and a beta of 1.15. Datadog, Inc. has a 52-week low of $63.00 and a 52-week high of $138.61. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.17 and a current ratio of 3.17.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $589.65 million for the quarter, compared to analyst estimates of $568.73 million. Datadog had a net margin of 2.28% and a return on equity of 3.79%. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.08) EPS. Equities analysts expect that Datadog, Inc. will post -0.14 EPS for the current 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.