Diversified Trust Co Boosts Position in Datadog, Inc. (NASDAQ:DDOG)

Diversified Trust Co grew its holdings in Datadog, Inc. (NASDAQ:DDOG) by 80.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,598 shares of the company’s stock after acquiring an additional 5,156 shares during the period. Diversified Trust Co’s holdings in Datadog were worth $1,334,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DDOG. Azzad Asset Management Inc. ADV grew its stake in shares of Datadog by 32.3% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 19,139 shares of the company’s stock worth $2,202,000 after purchasing an additional 4,677 shares during the period. GAMMA Investing LLC grew its position in Datadog by 19.5% during the third quarter. GAMMA Investing LLC now owns 563 shares of the company’s stock valued at $65,000 after buying an additional 92 shares during the period. American National Bank & Trust purchased a new position in Datadog in the third quarter valued at $39,000. Cavalry Management Group LLC purchased a new position in Datadog in the second quarter valued at $222,000. Finally, Newbridge Financial Services Group Inc. raised its position in shares of Datadog by 23.8% in the second quarter. Newbridge Financial Services Group Inc. now owns 4,402 shares of the company’s stock worth $571,000 after acquiring an additional 847 shares during the period. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Stock Performance

Datadog stock opened at $123.72 on Wednesday. Datadog, Inc. has a 1 year low of $77.81 and a 1 year high of $138.61. The firm has a 50 day moving average price of $113.61 and a 200 day moving average price of $119.15. The company has a market cap of $41.38 billion, a price-to-earnings ratio of 386.63, a PEG ratio of 28.94 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results 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 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%. Datadog’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same quarter last year, the business earned $0.36 EPS. Sell-side analysts predict that Datadog, Inc. will post 0.42 EPS for the current year.

Insiders Place Their Bets

In other news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated 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 directly owns 347,684 shares of the company’s stock, valued at $38,822,395.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were 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 of the company’s stock, valued at approximately $38,822,395.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Olivier Pomel sold 85,637 shares of the company’s 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 sale, the chief executive officer now directly owns 405,314 shares of the company’s stock, valued at approximately $42,237,771.94. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 240,282 shares of company stock worth $26,311,431 over the last three months. 11.78% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Needham & Company LLC cut their price target on shares of Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a report on Friday, August 9th. Wedbush reissued an “outperform” rating and set a $155.00 target price on shares of Datadog in a research note on Friday, August 9th. Loop Capital reaffirmed a “buy” rating and issued a $160.00 price target on shares of Datadog in a research note on Friday, July 5th. UBS Group lifted their price objective on Datadog from $120.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Finally, DA Davidson raised Datadog from a “neutral” rating to a “buy” rating and increased their target price for the company from $115.00 to $140.00 in a report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.19.

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.