Datadog, Inc. (NASDAQ:DDOG) Shares Purchased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. increased its holdings in Datadog, Inc. (NASDAQ:DDOG) by 4.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,141 shares of the company’s stock after purchasing an additional 571 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Datadog were worth $1,704,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Riverview Trust Co purchased a new position in Datadog during the first quarter valued at $26,000. SouthState Corp acquired a new stake in Datadog in the 2nd quarter worth about $26,000. Raleigh Capital Management Inc. purchased a new stake in Datadog during the 4th quarter worth approximately $29,000. Blue Trust Inc. acquired a new position in shares of Datadog during the second quarter valued at approximately $37,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Datadog by 70.2% during the first quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock valued at $39,000 after acquiring an additional 127 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Price Performance

NASDAQ DDOG opened at $122.69 on Friday. The company has a market cap of $41.04 billion, a P/E ratio of 383.41, a P/E/G ratio of 28.94 and a beta of 1.11. The stock has a 50-day moving average of $113.52 and a two-hundred day moving average of $119.18. Datadog, Inc. has a 1-year low of $77.81 and a 1-year high of $138.61.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. The firm had revenue of $645.28 million during the quarter, compared to analysts’ expectations of $624.92 million. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The business’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 earnings per share. On average, analysts anticipate that Datadog, Inc. will post 0.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on DDOG. UBS Group boosted their price target on Datadog from $120.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. DA Davidson upgraded shares of Datadog from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $115.00 to $140.00 in a research report on Tuesday, October 1st. Royal Bank of Canada reiterated an “outperform” rating and issued a $151.00 price objective on shares of Datadog in a report on Friday, August 9th. BMO Capital Markets dropped their price target on Datadog from $140.00 to $132.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Finally, Mizuho upgraded Datadog from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $135.00 to $155.00 in a research report on Tuesday, July 16th. Four equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $140.85.

Insider Transactions at Datadog

In related news, CEO Olivier Pomel sold 200,993 shares of Datadog stock in a transaction on Monday, July 8th. The stock was sold at an average price of $131.01, for a total value of $26,332,092.93. Following the completion of the transaction, the chief executive officer now directly owns 324,539 shares in the company, valued at approximately $42,517,854.39. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $111.66, for a total value of $14,192,544.30. Following the sale, the chief technology officer now directly owns 347,684 shares in the company, valued at $38,822,395.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Olivier Pomel sold 200,993 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $131.01, for a total value of $26,332,092.93. Following the transaction, the chief executive officer now directly owns 324,539 shares of the company’s stock, valued at approximately $42,517,854.39. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 422,991 shares of company stock valued at $50,448,980. 11.78% of the stock is currently owned by company insiders.

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.