Thrivent Financial for Lutherans Has $101.84 Million Holdings in Datadog, Inc. (NASDAQ:DDOG)

Thrivent Financial for Lutherans grew its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 1,597.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 785,261 shares of the company’s stock after buying an additional 739,011 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.23% of Datadog worth $101,841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Datadog by 35.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 86,246 shares of the company’s stock valued at $11,188,000 after purchasing an additional 22,499 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Datadog by 18.3% in the second quarter. Canada Pension Plan Investment Board now owns 367,880 shares of the company’s stock worth $47,710,000 after buying an additional 56,988 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Datadog by 249.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,232 shares of the company’s stock worth $290,000 after acquiring an additional 1,593 shares in the last quarter. Brighton Jones LLC acquired a new position in shares of Datadog during the 2nd quarter valued at about $206,000. Finally, Seven Eight Capital LP raised its stake in shares of Datadog by 16.0% in the 2nd quarter. Seven Eight Capital LP now owns 27,823 shares of the company’s stock valued at $3,608,000 after acquiring an additional 3,842 shares in the last quarter. Institutional investors own 78.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on DDOG shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $150.00 price target on shares of Datadog in a report on Monday, July 22nd. BMO Capital Markets dropped their target price on shares of Datadog from $140.00 to $132.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Barclays decreased their price target on shares of Datadog from $145.00 to $140.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Royal Bank of Canada reissued an “outperform” rating and set a $151.00 price objective on shares of Datadog in a research report on Friday, August 9th. Finally, Evercore ISI began coverage on Datadog in a report on Monday, July 15th. They issued an “outperform” rating and a $150.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Datadog has a consensus rating of “Moderate Buy” and a consensus target price of $139.88.

Datadog Price Performance

Shares of NASDAQ:DDOG opened at $114.76 on Friday. The business’s fifty day moving average price is $114.64 and its two-hundred day moving average price is $119.60. Datadog, Inc. has a fifty-two week low of $77.81 and a fifty-two week high of $138.61. The stock has a market capitalization of $38.39 billion, a price-to-earnings ratio of 358.63, a price-to-earnings-growth ratio of 27.84 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last posted its earnings results on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.06. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The business had revenue of $645.28 million for the quarter, compared to analyst estimates of $624.92 million. During the same quarter in the prior year, the firm earned $0.36 EPS. The firm’s quarterly revenue was up 26.7% compared to the same quarter last year. Research analysts expect that Datadog, Inc. will post 0.41 EPS for the current fiscal year.

Insider Transactions at Datadog

In related news, CEO Olivier Pomel sold 200,993 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $131.01, for a total transaction of $26,332,092.93. Following the sale, the chief executive officer now directly owns 324,539 shares in the company, valued at approximately $42,517,854.39. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Madre Armelle De sold 1,749 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $125.00, for a total transaction of $218,625.00. Following the transaction, the insider now directly owns 92,025 shares in the company, valued at $11,503,125. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Olivier Pomel sold 200,993 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $131.01, for a total transaction of $26,332,092.93. Following the completion of the sale, the chief executive officer now directly owns 324,539 shares of the company’s stock, valued at approximately $42,517,854.39. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 561,997 shares of company stock valued at $68,517,631. Corporate insiders own 11.78% of the company’s stock.

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.