Creative Planning Increases Holdings in Datadog, Inc. (NASDAQ:DDOG)

Creative Planning lifted its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 17.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,141 shares of the company’s stock after acquiring an additional 2,563 shares during the quarter. Creative Planning’s holdings in Datadog were worth $1,972,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. SouthState Corp purchased a new stake in shares of Datadog during the 2nd quarter worth approximately $26,000. Blue Trust Inc. purchased a new stake in Datadog in the 2nd quarter valued at approximately $37,000. EverSource Wealth Advisors LLC lifted its stake in Datadog by 70.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock valued at $39,000 after buying an additional 127 shares in the last quarter. American National Bank & Trust purchased a new stake in Datadog in the 3rd quarter valued at approximately $39,000. Finally, Versant Capital Management Inc lifted its stake in Datadog by 216.5% in the 2nd quarter. Versant Capital Management Inc now owns 307 shares of the company’s stock valued at $40,000 after buying an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Trading Down 0.2 %

Shares of NASDAQ DDOG opened at $126.37 on Tuesday. Datadog, Inc. has a 12-month low of $77.81 and a 12-month high of $138.61. The company has a market cap of $42.27 billion, a P/E ratio of 394.91, a P/E/G ratio of 22.85 and a beta of 1.11. The stock has a fifty day moving average price of $117.78 and a 200 day moving average price of $119.38.

Datadog (NASDAQ:DDOG) last announced its earnings results 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 during the quarter, compared to the consensus estimate of $624.92 million. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The company’s revenue was up 26.7% on a year-over-year basis. During the same period last year, the firm earned $0.36 earnings per share. On average, sell-side analysts forecast that Datadog, Inc. will post 0.42 EPS for the current fiscal year.

Insider Activity

In other news, CEO Olivier Pomel sold 85,637 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 405,314 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. In other 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 transaction of $8,924,231.77. Following the transaction, the chief executive officer now 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Sean Michael Walters sold 2,322 shares of the stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $125.00, for a total transaction of $290,250.00. Following the transaction, the executive now directly owns 183,512 shares in the company, valued at $22,939,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 529,928 shares of company stock worth $63,079,091 over the last ninety days. Corporate insiders own 11.78% of the company’s stock.

Analyst Upgrades and Downgrades

DDOG has been the topic of a number of recent research reports. Needham & Company LLC reduced their target price on Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Evercore ISI started coverage on Datadog in a research note on Monday, July 15th. They set an “outperform” rating and a $150.00 price target on the stock. DA Davidson raised Datadog from a “neutral” rating to a “buy” rating and increased their price target for the stock from $115.00 to $140.00 in a research note on Tuesday, October 1st. Scotiabank reduced their price target on Datadog from $145.00 to $135.00 and set a “sector outperform” rating on the stock in a research note on Friday, August 9th. Finally, Mizuho raised Datadog from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $135.00 to $155.00 in a research note on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $142.54.

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.