Datadog, Inc. (NASDAQ:DDOG) Shares Purchased by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. raised its stake in Datadog, Inc. (NASDAQ:DDOG) by 80.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 426 shares of the company’s stock after purchasing an additional 190 shares during the period. Raleigh Capital Management Inc.’s holdings in Datadog were worth $49,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Riverview Trust Co purchased a new position in Datadog in the first quarter worth approximately $26,000. SouthState Corp acquired a new stake in shares of Datadog in the 2nd quarter valued at $26,000. Blue Trust Inc. purchased a new stake in shares of Datadog during the 2nd quarter worth $37,000. EverSource Wealth Advisors LLC grew its stake in shares of Datadog by 70.2% during the first quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock worth $39,000 after purchasing an additional 127 shares in the last quarter. Finally, American National Bank & Trust purchased a new position in Datadog in the third quarter valued at $39,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Price Performance

DDOG opened at $121.52 on Thursday. The business has a 50 day simple moving average of $117.21 and a 200-day simple moving average of $119.46. Datadog, Inc. has a 12 month low of $77.81 and a 12 month high of $138.61. The stock has a market capitalization of $40.65 billion, a P/E ratio of 379.75, a P/E/G ratio of 22.85 and a beta of 1.11.

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. DA Davidson raised Datadog from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $115.00 to $140.00 in a report on Tuesday, October 1st. Royal Bank of Canada reiterated an “outperform” rating and issued a $151.00 price target on shares of Datadog in a research note on Friday, August 9th. Wedbush upgraded shares of Datadog from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. Scotiabank cut their price target on shares of 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, Evercore ISI assumed coverage on shares of Datadog in a research note on Monday, July 15th. They issued an “outperform” rating and a $150.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $142.43.

Insiders Place Their Bets

In other news, CEO Olivier Pomel sold 85,637 shares of Datadog stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 405,314 shares in the company, valued at approximately $42,237,771.94. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO David M. Obstler sold 33,333 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $125.70, for a total value of $4,189,958.10. Following the sale, the chief financial officer now owns 314,158 shares of the company’s stock, valued at approximately $39,489,660.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Olivier Pomel sold 85,637 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $104.21, for a total value of $8,924,231.77. Following the transaction, the chief executive officer now directly owns 405,314 shares of the company’s stock, valued at $42,237,771.94. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 529,928 shares of company stock worth $63,079,091. 11.78% of the stock is owned by company insiders.

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.