DekaBank Deutsche Girozentrale Has $51.52 Million Stock Position in Datadog, Inc. (NASDAQ:DDOG)

DekaBank Deutsche Girozentrale lessened its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 9.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 454,510 shares of the company’s stock after selling 48,328 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Datadog were worth $51,518,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC lifted its holdings in Datadog by 8.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,746 shares of the company’s stock worth $1,352,000 after buying an additional 886 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Datadog by 23.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,933 shares of the company’s stock worth $19,635,000 after acquiring an additional 32,217 shares during the last quarter. Mediolanum International Funds Ltd lifted its stake in shares of Datadog by 51.6% in the third quarter. Mediolanum International Funds Ltd now owns 68,884 shares of the company’s stock worth $7,854,000 after acquiring an additional 23,447 shares during the period. Hudock Inc. boosted its holdings in Datadog by 3.3% in the third quarter. Hudock Inc. now owns 3,596 shares of the company’s stock valued at $414,000 after acquiring an additional 116 shares during the last quarter. Finally, Ballentine Partners LLC raised its holdings in Datadog by 96.5% during the 3rd quarter. Ballentine Partners LLC now owns 4,085 shares of the company’s stock worth $470,000 after purchasing an additional 2,006 shares during the last quarter. Institutional investors own 78.29% of the company’s stock.

Datadog Trading Up 2.2 %

DDOG stock opened at $126.60 on Monday. The stock has a market cap of $42.35 billion, a P/E ratio of 395.63, a P/E/G ratio of 22.85 and a beta of 1.11. The stock’s fifty day simple moving average is $117.59 and its two-hundred day simple moving average is $119.41. Datadog, Inc. has a 1-year low of $77.81 and a 1-year high of $138.61.

Datadog (NASDAQ:DDOG) last posted its quarterly 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 analyst estimates of $624.92 million. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The firm’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.36 earnings per share. As a group, analysts forecast that Datadog, Inc. will post 0.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Datadog news, Director Shardul Shah sold 15,832 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $120.02, for a total value of $1,900,156.64. Following the completion of the sale, the director now directly owns 459,449 shares of the company’s stock, valued at $55,143,068.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Shardul Shah sold 15,832 shares of Datadog stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $120.02, for a total value of $1,900,156.64. Following the completion of the sale, the director now owns 459,449 shares of the company’s stock, valued at approximately $55,143,068.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO David M. Obstler sold 33,333 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $130.39, for a total value of $4,346,289.87. Following the completion of the sale, the chief financial officer now owns 314,158 shares in the company, valued at $40,963,061.62. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 529,928 shares of company stock valued at $63,079,091. 11.78% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Loop Capital reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Datadog in a research note on Friday, July 5th. Evercore ISI started coverage on Datadog in a report on Monday, July 15th. They set an “outperform” rating and a $150.00 price target for the company. BTIG Research raised Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective on the stock in a research note on Thursday, August 1st. DA Davidson raised Datadog from a “neutral” rating to a “buy” rating and raised their target price for the stock from $115.00 to $140.00 in a research note on Tuesday, October 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $150.00 price target on shares of Datadog in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.