Datadog, Inc. (NASDAQ:DDOG) Shares Purchased by Archford Capital Strategies LLC

Archford Capital Strategies LLC lifted its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 12.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,849 shares of the company’s stock after acquiring an additional 310 shares during the quarter. Archford Capital Strategies LLC’s holdings in Datadog were worth $369,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DDOG. International Assets Investment Management LLC acquired a new position in Datadog in the fourth quarter worth $1,915,000. Sequoia Financial Advisors LLC acquired a new stake in Datadog in the 4th quarter valued at approximately $233,000. Cerity Partners LLC boosted its position in Datadog by 80.0% during the 4th quarter. Cerity Partners LLC now owns 30,062 shares of the company’s stock worth $3,649,000 after acquiring an additional 13,361 shares during the period. NewEdge Wealth LLC increased its holdings in shares of Datadog by 10.6% during the fourth quarter. NewEdge Wealth LLC now owns 4,118 shares of the company’s stock valued at $500,000 after purchasing an additional 395 shares during the period. Finally, Louisiana State Employees Retirement System bought a new position in Datadog in the 4th quarter valued at about $2,913,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Stock Down 0.4 %

Shares of Datadog stock traded down $0.51 on Friday, hitting $115.82. The company had a trading volume of 572,199 shares, compared to its average volume of 4,081,760. Datadog, Inc. has a twelve month low of $77.81 and a twelve month high of $138.61. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 3.43. The stock has a 50-day moving average of $119.75 and a 200-day moving average of $122.74. The firm has a market capitalization of $38.74 billion, a P/E ratio of 363.53, a P/E/G ratio of 37.24 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last released 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 7.48% and a net margin of 5.11%. The firm had revenue of $645.28 million for the quarter, compared to the consensus estimate of $624.92 million. During the same quarter last year, the business posted $0.36 EPS. The company’s revenue for the quarter was up 26.7% on a year-over-year basis. Research analysts predict that Datadog, Inc. will post 0.32 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Mizuho raised shares of Datadog from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $135.00 to $155.00 in a research note on Tuesday, July 16th. Bank of America raised shares of Datadog from a “neutral” rating to a “buy” rating and upped their price target for the company from $143.00 to $155.00 in a report on Thursday, May 30th. Stifel Nicolaus reiterated a “buy” rating and issued a $152.00 target price on shares of Datadog in a report on Monday, April 22nd. JMP Securities upgraded shares of Datadog to a “hold” rating in a research report on Wednesday, May 8th. Finally, Scotiabank dropped 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. Four investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.93.

Insiders Place Their Bets

In other news, COO Adam Blitzer sold 11,946 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $109.45, for a total value of $1,307,489.70. Following the completion of the transaction, the chief operating officer now owns 236,640 shares in the company, valued at approximately $25,900,248. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Olivier Pomel sold 85,637 shares of Datadog 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 transaction, the chief executive officer now owns 405,314 shares of the company’s stock, valued at approximately $42,237,771.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Adam Blitzer sold 11,946 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $109.45, for a total transaction of $1,307,489.70. Following the completion of the sale, the chief operating officer now directly owns 236,640 shares in the company, valued at $25,900,248. The disclosure for this sale can be found here. Insiders have sold 857,306 shares of company stock valued at $101,078,323 in the last three months. 11.78% of the stock is currently owned by corporate 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.