Emerald Advisers LLC Invests $445,000 in Datadog, Inc. (NASDAQ:DDOG)

Emerald Advisers LLC purchased a new position in Datadog, Inc. (NASDAQ:DDOG) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 3,865 shares of the company’s stock, valued at approximately $445,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. SouthState Corp bought a new stake in shares of Datadog during the second quarter valued at approximately $26,000. Blue Trust Inc. purchased a new position in shares of Datadog in the second quarter worth $37,000. EverSource Wealth Advisors LLC raised its stake in shares of Datadog by 70.2% in 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 during the last quarter. American National Bank & Trust bought a new position in shares of Datadog during the third quarter valued at $39,000. Finally, Versant Capital Management Inc increased its holdings in Datadog by 216.5% in the 2nd quarter. Versant Capital Management Inc now owns 307 shares of the company’s stock worth $40,000 after buying an additional 210 shares in the last quarter. Institutional investors own 78.29% of the company’s stock.

Insider Activity

In related news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $111.66, for a total transaction of $14,192,544.30. Following the completion of the transaction, the chief technology officer now directly owns 347,684 shares of the company’s stock, valued at approximately $38,822,395.44. 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 accessible through the SEC website. In related news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’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 directly owns 347,684 shares of the company’s stock, valued at approximately $38,822,395.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Sean Michael Walters sold 2,322 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $125.00, for a total value of $290,250.00. Following the transaction, the executive now owns 183,512 shares of the company’s stock, valued at approximately $22,939,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 444,291 shares of company stock valued at $54,154,859. 11.78% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on DDOG. Cantor Fitzgerald reiterated an “overweight” rating and issued a $150.00 price target on shares of Datadog in a research note on Monday, July 22nd. UBS Group reaffirmed an “underperform” rating on shares of Datadog in a research report on Friday, October 18th. Monness Crespi & Hardt raised Datadog from a “sell” rating to a “neutral” rating in a report on Wednesday, August 7th. Mizuho raised Datadog from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $135.00 to $155.00 in a report on Tuesday, July 16th. Finally, Evercore ISI initiated coverage on Datadog in a research report on Monday, July 15th. They set 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 issued a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $142.54.

Datadog Trading Down 1.7 %

DDOG opened at $123.26 on Monday. The stock has a 50-day moving average of $118.55 and a 200 day moving average of $119.39. Datadog, Inc. has a 12 month low of $77.81 and a 12 month high of $138.61. The firm has a market cap of $41.56 billion, a P/E ratio of 273.92, a P/E/G ratio of 22.90 and a beta of 1.10.

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

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.