Parallel Advisors LLC Has $582,000 Stake in Datadog, Inc. (NASDAQ:DDOG)

Parallel Advisors LLC increased its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 8.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,070 shares of the company’s stock after buying an additional 319 shares during the period. Parallel Advisors LLC’s holdings in Datadog were worth $582,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in DDOG. True Wealth Design LLC increased its holdings in Datadog by 12,000.0% during the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after buying an additional 240 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new position in Datadog during the fourth quarter worth $30,000. Avior Wealth Management LLC increased its holdings in shares of Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after purchasing an additional 81 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Datadog by 66.5% in 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 during the last quarter. Finally, Quarry LP acquired a new position in shares of Datadog in the third quarter valued at $33,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on DDOG shares. Needham & Company LLC reiterated a “buy” rating and issued a $160.00 price objective on shares of Datadog in a report on Tuesday, March 4th. Morgan Stanley reissued an “equal weight” rating and issued a $143.00 target price on shares of Datadog in a research report on Thursday, January 16th. Wells Fargo & Company cut shares of Datadog from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $152.00 to $140.00 in a research report on Thursday, February 13th. Guggenheim reissued a “neutral” rating on shares of Datadog in a research report on Wednesday, January 22nd. Finally, Stifel Nicolaus cut shares of Datadog from a “buy” rating to a “hold” rating and reduced their target price for the company from $165.00 to $140.00 in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $158.70.

Datadog Stock Performance

NASDAQ:DDOG opened at $103.17 on Friday. The company has a market capitalization of $35.36 billion, a PE ratio of 202.30, a P/E/G ratio of 44.03 and a beta of 1.22. The company has a 50 day simple moving average of $127.67 and a two-hundred day simple moving average of $130.80. Datadog, Inc. has a fifty-two week low of $98.30 and a fifty-two week high of $170.08.

Datadog (NASDAQ:DDOG) last released its earnings results 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 net margin of 6.85% and a return on equity of 8.28%. Research analysts predict that Datadog, Inc. will post 0.34 EPS for the current year.

Insider Activity

In other news, Director Shardul Shah sold 7,916 shares of Datadog stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $142.12, for a total value of $1,125,021.92. Following the completion of the sale, the director now owns 427,785 shares in the company, valued at $60,796,804.20. The trade was a 1.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $141.21, for a total transaction of $17,948,497.05. Following the completion of the sale, the chief technology officer now owns 324,778 shares of the company’s stock, valued at $45,861,901.38. This represents a 28.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 626,412 shares of company stock worth $79,144,334 in the last quarter. 11.78% of the stock is owned by corporate insiders.

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.