Brighton Jones LLC Invests $206,000 in Datadog, Inc. (NASDAQ:DDOG)

Brighton Jones LLC purchased a new position in shares of Datadog, Inc. (NASDAQ:DDOG) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,589 shares of the company’s stock, valued at approximately $206,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DDOG. Seven Eight Capital LP grew its holdings in shares of Datadog by 16.0% during the second quarter. Seven Eight Capital LP now owns 27,823 shares of the company’s stock worth $3,608,000 after buying an additional 3,842 shares in the last quarter. Elo Mutual Pension Insurance Co raised its holdings in Datadog by 1.2% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 25,264 shares of the company’s stock valued at $3,276,000 after acquiring an additional 305 shares during the last quarter. Blair William & Co. IL lifted its stake in Datadog by 6.0% in the 2nd quarter. Blair William & Co. IL now owns 33,241 shares of the company’s stock worth $4,311,000 after purchasing an additional 1,869 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Datadog by 3.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,423 shares of the company’s stock worth $1,999,000 after purchasing an additional 486 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in shares of Datadog by 6.5% in the second quarter. Amalgamated Bank now owns 20,202 shares of the company’s stock valued at $2,620,000 after purchasing an additional 1,236 shares during the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Insider Activity

In related news, insider Madre Armelle De sold 1,749 shares of Datadog stock in a transaction on Thursday, June 27th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Datadog news, insider Madre Armelle De sold 1,749 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $125.00, for a total value of $218,625.00. Following the transaction, the insider now owns 92,025 shares of the company’s stock, valued at approximately $11,503,125. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Kerry Acocella sold 1,846 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $120.28, for a total transaction of $222,036.88. Following the transaction, the general counsel now owns 80,084 shares in the company, valued at $9,632,503.52. The disclosure for this sale can be found here. Insiders sold 556,042 shares of company stock valued at $67,802,495 over the last three months. Insiders own 11.78% of the company’s stock.

Datadog Stock Down 0.7 %

DDOG opened at $114.76 on Monday. Datadog, Inc. has a 52 week low of $77.81 and a 52 week high of $138.61. The business’s fifty day simple moving average is $114.64 and its 200 day simple moving average is $119.56. The stock has a market cap of $38.39 billion, a PE ratio of 358.63, a P/E/G ratio of 27.84 and a beta of 1.11.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on DDOG shares. Mizuho raised Datadog from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $135.00 to $155.00 in a research note on Tuesday, July 16th. Evercore ISI initiated coverage on Datadog in a research note on Monday, July 15th. They set an “outperform” rating and a $150.00 target price on the stock. Monness Crespi & Hardt upgraded shares of Datadog from a “sell” rating to a “neutral” rating in a report on Wednesday, August 7th. Scotiabank decreased their price target on shares of Datadog from $145.00 to $135.00 and set a “sector outperform” rating for the company in a research report on Friday, August 9th. Finally, BTIG Research upgraded Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price target on the stock in a report on Thursday, August 1st. Four equities research 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. According to data from MarketBeat.com, Datadog has a consensus rating of “Moderate Buy” and a consensus price target of $139.88.

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.