Datadog, Inc. (NASDAQ:DDOG) Position Increased by Cetera Investment Advisers

Cetera Investment Advisers raised its stake in Datadog, Inc. (NASDAQ:DDOG) by 10.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,570 shares of the company’s stock after buying an additional 3,690 shares during the period. Cetera Investment Advisers’ holdings in Datadog were worth $4,872,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of DDOG. SouthState Corp acquired a new position in shares of Datadog in the second quarter worth about $26,000. Riverview Trust Co purchased a new stake in shares of Datadog in the 1st quarter valued at approximately $26,000. Raleigh Capital Management Inc. acquired a new position in Datadog in the 4th quarter worth approximately $29,000. Blue Trust Inc. purchased a new position in Datadog during the 2nd quarter worth approximately $37,000. Finally, Versant Capital Management Inc raised its stake in Datadog by 216.5% during the 2nd quarter. Versant Capital Management Inc now owns 307 shares of the company’s stock valued at $40,000 after purchasing an additional 210 shares during the period. Institutional investors and hedge funds own 78.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on DDOG shares. UBS Group lifted their price target on Datadog from $120.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, August 9th. BMO Capital Markets dropped their target price on Datadog from $140.00 to $132.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $151.00 price target on shares of Datadog in a research report on Friday, August 9th. Evercore ISI started coverage on shares of Datadog in a research report on Monday, July 15th. They set an “outperform” rating and a $150.00 price objective on the stock. Finally, Mizuho upgraded shares of Datadog from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $135.00 to $155.00 in a research report on Tuesday, July 16th. Four investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.19.

Insider Transactions at Datadog

In other news, CEO Olivier Pomel sold 85,637 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $104.21, for a total value of $8,924,231.77. Following the sale, the chief executive officer now owns 405,314 shares in the company, valued at approximately $42,237,771.94. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Olivier Pomel sold 85,637 shares of the stock in a transaction dated Monday, August 5th. The shares were 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 owns 405,314 shares in the company, valued at approximately $42,237,771.94. 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 accessible through this hyperlink. Also, Director Shardul Shah sold 15,832 shares of Datadog stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $120.02, for a total value of $1,900,156.64. Following the sale, the director now directly owns 459,449 shares in the company, valued at approximately $55,143,068.98. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 240,282 shares of company stock worth $26,311,431 over the last three months. 11.78% of the stock is currently owned by insiders.

Datadog Price Performance

Shares of DDOG opened at $123.72 on Wednesday. The company has a market capitalization of $41.38 billion, a PE ratio of 386.63, a price-to-earnings-growth ratio of 28.94 and a beta of 1.11. Datadog, Inc. has a one year low of $77.81 and a one year high of $138.61. The company’s fifty day moving average price is $113.61 and its 200 day moving average price is $119.15.

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

Datadog Company 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.