15,322 Shares in Datadog, Inc. (NASDAQ:DDOG) Acquired by Watts Gwilliam & Co. LLC

Watts Gwilliam & Co. LLC bought a new position in shares of Datadog, Inc. (NASDAQ:DDOG) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,322 shares of the company’s stock, valued at approximately $1,896,000.

A number of other hedge funds have also recently bought and sold shares of the company. Riverview Trust Co acquired a new position in shares of Datadog in the 1st quarter valued at $26,000. SouthState Corp acquired a new position in shares of Datadog in the 2nd quarter valued at $26,000. Raleigh Capital Management Inc. acquired a new position in shares of Datadog in the 4th quarter valued at $29,000. Blue Trust Inc. purchased a new position in shares of Datadog in the 2nd quarter valued at $37,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Datadog by 70.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock valued at $39,000 after acquiring an additional 127 shares during the period. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Stock Up 3.9 %

Datadog stock opened at $130.09 on Friday. The firm has a 50-day moving average price of $114.30 and a two-hundred day moving average price of $119.27. The firm has a market capitalization of $43.86 billion, a price-to-earnings ratio of 289.10, a PEG ratio of 22.85 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 posted its earnings results on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. The firm 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%. Datadog’s revenue was up 26.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 EPS. Research analysts expect that Datadog, Inc. will post 0.42 earnings per share for the current year.

Insider Transactions at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $111.66, for a total value of $14,192,544.30. Following the completion of the sale, the chief technology officer now directly owns 347,684 shares of the company’s stock, valued at approximately $38,822,395.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 405,314 shares in the company, valued at $42,237,771.94. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $111.66, for a total transaction of $14,192,544.30. Following the completion of the sale, the chief technology officer now owns 347,684 shares in the company, valued at $38,822,395.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 361,574 shares of company stock valued at $41,291,591. Company insiders own 11.78% of the company’s stock.

Wall Street Analysts Forecast Growth

DDOG has been the topic of a number of research reports. BMO Capital Markets cut their target price on shares of Datadog from $140.00 to $132.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. DA Davidson raised shares of Datadog from a “neutral” rating to a “buy” rating and raised their target price for the company from $115.00 to $140.00 in a research note on Tuesday, October 1st. BNP Paribas initiated coverage on shares of Datadog in a research note on Tuesday. They issued an “outperform” rating and a $150.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $151.00 target price on shares of Datadog in a research note on Friday, August 9th. Finally, Evercore ISI initiated coverage on shares of Datadog in a research note on Monday, July 15th. They issued an “outperform” rating and a $150.00 target price on the stock. Four research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Datadog has a consensus rating of “Moderate Buy” and an average price target of $141.19.

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.