Raleigh Capital Management Inc. Grows Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Raleigh Capital Management Inc. raised its holdings in Datadog, Inc. (NASDAQ:DDOG) by 80.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 426 shares of the company’s stock after acquiring an additional 190 shares during the period. Raleigh Capital Management Inc.’s holdings in Datadog were worth $49,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of DDOG. Whittier Trust Co. of Nevada Inc. increased its position in Datadog by 3.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 19,530 shares of the company’s stock worth $2,247,000 after purchasing an additional 682 shares during the last quarter. Whittier Trust Co. grew its stake in shares of Datadog by 3.6% during the 3rd quarter. Whittier Trust Co. now owns 55,281 shares of the company’s stock valued at $6,360,000 after buying an additional 1,921 shares during the period. Blue Trust Inc. increased its holdings in shares of Datadog by 80.3% during the 3rd quarter. Blue Trust Inc. now owns 539 shares of the company’s stock worth $62,000 after buying an additional 240 shares during the last quarter. Accurate Wealth Management LLC purchased a new position in shares of Datadog in the 3rd quarter worth $558,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Datadog by 0.9% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 35,224 shares of the company’s stock valued at $4,053,000 after acquiring an additional 314 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction dated 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 owns 405,314 shares of the company’s stock, valued at $42,237,771.94. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, 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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Olivier Pomel sold 85,637 shares of the company’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 owns 405,314 shares of the company’s stock, valued at approximately $42,237,771.94. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 529,928 shares of company stock valued at $63,079,091. Company insiders own 11.78% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on DDOG shares. Royal Bank of Canada restated an “outperform” rating and issued a $151.00 price objective on shares of Datadog in a report on Friday, August 9th. BTIG Research raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price target on the stock in a research report on Thursday, August 1st. Monness Crespi & Hardt raised shares of Datadog from a “sell” rating to a “neutral” rating in a research report on Wednesday, August 7th. Evercore ISI initiated coverage on shares of Datadog in a report on Monday, July 15th. They set an “outperform” rating and a $150.00 target price on the stock. Finally, DA Davidson raised shares of Datadog from a “neutral” rating to a “buy” rating and upped their price target for the stock from $115.00 to $140.00 in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $142.43.

Datadog Stock Down 2.5 %

Shares of Datadog stock opened at $121.52 on Thursday. The business has a 50-day moving average price of $117.21 and a 200 day moving average price of $119.46. Datadog, Inc. has a fifty-two week low of $77.81 and a fifty-two week high of $138.61. The firm has a market cap 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 posted its quarterly earnings results on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.06. The business had revenue of $645.28 million for the quarter, compared to analyst estimates of $624.92 million. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The business’s revenue was up 26.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.36 EPS. As a group, equities research analysts anticipate that Datadog, Inc. will post 0.42 earnings per share for the current year.

Datadog 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.