Brighton Jones LLC Takes Position in Datadog, Inc. (NASDAQ:DDOG)

Brighton Jones LLC acquired a new position in shares of Datadog, Inc. (NASDAQ:DDOG) during the fourth quarter, HoldingsChannel reports. The firm acquired 1,978 shares of the company’s stock, valued at approximately $240,000.

Other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA acquired a new stake in shares of Datadog in the 3rd quarter valued at about $189,668,000. Alkeon Capital Management LLC bought a new position in shares of Datadog during the third quarter worth about $127,526,000. Vanguard Group Inc. grew its holdings in shares of Datadog by 4.7% during the third quarter. Vanguard Group Inc. now owns 26,524,875 shares of the company’s stock worth $2,416,151,000 after buying an additional 1,191,742 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in Datadog in the 3rd quarter valued at approximately $44,939,000. Finally, Eagle Asset Management Inc. lifted its stake in Datadog by 83.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,069,224 shares of the company’s stock valued at $97,396,000 after acquiring an additional 486,582 shares in the last quarter. 78.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DDOG. Royal Bank of Canada raised their target price on shares of Datadog from $145.00 to $151.00 and gave the company an “outperform” rating in a research report on Wednesday, February 14th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $152.00 target price on shares of Datadog in a research report on Monday, April 22nd. Needham & Company LLC upped their target price on Datadog from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. BMO Capital Markets restated an “outperform” rating and issued a $155.00 price target (up from $140.00) on shares of Datadog in a research note on Wednesday, February 14th. Finally, William Blair reiterated an “outperform” rating on shares of Datadog in a research note on Friday, February 16th. Five equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $131.70.

Insider Activity at Datadog

In related news, COO Adam Blitzer sold 20,892 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $128.58, for a total value of $2,686,293.36. Following the completion of the transaction, the chief operating officer now owns 203,503 shares of the company’s stock, valued at approximately $26,166,415.74. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $135.10, for a total transaction of $17,171,885.50. Following the sale, the chief technology officer now directly owns 247,328 shares in the company, valued at $33,414,012.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Adam Blitzer sold 20,892 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $128.58, for a total transaction of $2,686,293.36. Following the completion of the transaction, the chief operating officer now owns 203,503 shares of the company’s stock, valued at approximately $26,166,415.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 759,908 shares of company stock valued at $97,728,997. 11.78% of the stock is owned by insiders.

Datadog Trading Down 0.9 %

Shares of DDOG opened at $124.27 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.17 and a current ratio of 3.17. Datadog, Inc. has a 52-week low of $70.00 and a 52-week high of $138.61. The firm has a market cap of $41.24 billion, a price-to-earnings ratio of 1,035.58 and a beta of 1.14. The business’s fifty day moving average is $125.09 and its 200-day moving average is $118.05.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. The business had revenue of $589.65 million for the quarter, compared to analyst estimates of $568.73 million. Datadog had a return on equity of 3.79% and a net margin of 2.28%. Datadog’s revenue was up 25.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.08) earnings per share. Equities analysts anticipate that Datadog, Inc. will post -0.14 EPS for the current fiscal year.

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.