Creative Planning Has $1.89 Million Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Creative Planning lifted its holdings in Datadog, Inc. (NASDAQ:DDOG) by 7.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,578 shares of the company’s stock after buying an additional 963 shares during the quarter. Creative Planning’s holdings in Datadog were worth $1,891,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Congress Asset Management Co. MA bought a new stake in Datadog during the 1st quarter worth about $1,083,000. Vanguard Group Inc. boosted its stake in Datadog by 0.6% in the first quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock valued at $3,390,485,000 after acquiring an additional 171,693 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in Datadog by 9.3% in the first quarter. Los Angeles Capital Management LLC now owns 264,821 shares of the company’s stock valued at $32,732,000 after acquiring an additional 22,544 shares during the last quarter. Bank of Montreal Can grew its holdings in Datadog by 129.2% during the 2nd quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock worth $79,384,000 after acquiring an additional 344,431 shares during the period. Finally, Plato Investment Management Ltd raised its position in shares of Datadog by 1,648.8% during the 1st quarter. Plato Investment Management Ltd now owns 5,159 shares of the company’s stock valued at $638,000 after acquiring an additional 4,864 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Analysts Set New Price Targets

DDOG has been the subject of a number of analyst reports. Barclays decreased their price objective on Datadog from $145.00 to $140.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Wedbush reaffirmed an “outperform” rating and issued a $155.00 target price on shares of Datadog in a research note on Friday, August 9th. BTIG Research raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price target on the stock in a research report on Thursday, August 1st. Loop Capital restated a “buy” rating and issued a $160.00 price objective on shares of Datadog in a research report on Friday, July 5th. Finally, Scotiabank reduced their target price on Datadog from $145.00 to $135.00 and set a “sector outperform” rating on the stock in a report on Friday, August 9th. Four 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.85.

Datadog Trading Down 0.3 %

DDOG stock opened at $122.38 on Tuesday. Datadog, Inc. has a 1-year low of $77.81 and a 1-year high of $138.61. The business’s 50 day simple moving average is $113.52 and its 200 day simple moving average is $119.15. The firm has a market capitalization of $40.94 billion, a PE ratio of 381.25, a PEG ratio of 28.94 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, beating the consensus estimate of $0.37 by $0.06. The company had revenue of $645.28 million for the quarter, compared to analyst estimates of $624.92 million. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The company’s revenue was up 26.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 earnings per share. As a group, sell-side analysts predict that Datadog, Inc. will post 0.42 EPS for the current fiscal year.

Insider Activity at Datadog

In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $104.21, for a total transaction of $8,924,231.77. Following the transaction, the chief executive officer now owns 405,314 shares in the company, valued at $42,237,771.94. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $104.21, for a total value of $8,924,231.77. Following the completion of the sale, the chief executive officer now directly owns 405,314 shares in the company, valued at approximately $42,237,771.94. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction, the chief technology officer now owns 347,684 shares in the company, valued at approximately $38,822,395.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 221,998 shares of company stock worth $24,116,887 in the last ninety days. 11.78% of the stock is 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.