Wealth Alliance Lowers Holdings in Datadog, Inc. (NASDAQ:DDOG)

Wealth Alliance trimmed its holdings in Datadog, Inc. (NASDAQ:DDOG) by 16.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,570 shares of the company’s stock after selling 303 shares during the quarter. Wealth Alliance’s holdings in Datadog were worth $204,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in DDOG. Riverview Trust Co bought a new position in shares of Datadog during the first quarter worth $26,000. SouthState Corp bought a new position in shares of Datadog during the 2nd quarter valued at about $26,000. Raleigh Capital Management Inc. purchased a new position in shares of Datadog during the fourth quarter valued at about $29,000. Jones Financial Companies Lllp bought a new stake in shares of Datadog in the fourth quarter worth about $33,000. Finally, Quest Partners LLC purchased a new stake in shares of Datadog in the fourth quarter worth about $36,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CRO Sean Michael Walters sold 2,351 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $125.00, for a total transaction of $293,875.00. Following the transaction, the executive now directly owns 197,421 shares in the company, valued at $24,677,625. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CRO Sean Michael Walters sold 2,351 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $125.00, for a total value of $293,875.00. Following the completion of the transaction, the executive now owns 197,421 shares of the company’s stock, valued at $24,677,625. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Kerry Acocella sold 5,955 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $120.09, for a total value of $715,135.95. Following the sale, the general counsel now directly owns 85,787 shares in the company, valued at approximately $10,302,160.83. The disclosure for this sale can be found here. In the last quarter, insiders sold 561,997 shares of company stock worth $68,517,631. 11.78% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DDOG. Cantor Fitzgerald restated an “overweight” rating and set a $150.00 price target on shares of Datadog in a report on Monday, July 22nd. Bank of America upgraded shares of Datadog from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $143.00 to $155.00 in a research report on Thursday, May 30th. Barclays lowered their price objective on shares of Datadog from $145.00 to $140.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Needham & Company LLC reduced their target price on shares of Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Mizuho upgraded shares of Datadog from a “neutral” rating to an “outperform” rating and upped their target price for the company from $135.00 to $155.00 in a research report on Tuesday, July 16th. Four analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $139.88.

Datadog Stock Down 0.7 %

DDOG opened at $114.76 on Friday. The stock’s fifty day moving average is $114.64 and its two-hundred day moving average is $119.62. The company has a market capitalization of $38.39 billion, a P/E ratio of 358.63, a PEG ratio of 27.84 and a beta of 1.11. Datadog, Inc. has a 52 week low of $77.81 and a 52 week high of $138.61.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.43 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 firm had revenue of $645.28 million for the quarter, compared to analyst estimates of $624.92 million. During the same quarter last year, the firm posted $0.36 earnings per share. The business’s revenue for the quarter was up 26.7% on a year-over-year basis. Equities analysts anticipate that Datadog, Inc. will post 0.41 earnings per share for the current year.

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.