Datadog, Inc. (NASDAQ:DDOG) Shares Acquired by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC boosted its position in Datadog, Inc. (NASDAQ:DDOG) by 4.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,552 shares of the company’s stock after purchasing an additional 1,316 shares during the period. Exchange Traded Concepts LLC’s holdings in Datadog were worth $3,400,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DDOG. Inspire Investing LLC boosted its stake in Datadog by 22.0% during the third quarter. Inspire Investing LLC now owns 2,484 shares of the company’s stock valued at $286,000 after buying an additional 448 shares in the last quarter. Covea Finance boosted its position in shares of Datadog by 44.8% during the 3rd quarter. Covea Finance now owns 29,400 shares of the company’s stock valued at $3,383,000 after purchasing an additional 9,100 shares in the last quarter. Valeo Financial Advisors LLC boosted its position in shares of Datadog by 47.7% during the 3rd quarter. Valeo Financial Advisors LLC now owns 6,614 shares of the company’s stock valued at $761,000 after purchasing an additional 2,136 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Datadog by 297.6% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,187 shares of the company’s stock worth $252,000 after purchasing an additional 1,637 shares during the last quarter. Finally, Watts Gwilliam & Co. LLC bought a new stake in shares of Datadog in the 3rd quarter worth approximately $1,896,000. 78.29% of the stock is owned by institutional investors.

Datadog Stock Performance

Shares of DDOG stock opened at $129.81 on Monday. The stock’s 50 day simple moving average is $114.75 and its 200 day simple moving average is $119.26. Datadog, Inc. has a twelve month low of $77.81 and a twelve month high of $138.61. The company has a market capitalization of $43.42 billion, a price-to-earnings ratio of 405.66, a PEG ratio of 22.85 and a beta of 1.11.

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on DDOG shares. Wedbush reaffirmed an “outperform” rating and issued a $155.00 price target on shares of Datadog in a report on Friday, August 9th. BMO Capital Markets reduced their target price on Datadog from $140.00 to $132.00 and set an “outperform” rating for the company in a report on Friday, August 9th. UBS Group lifted their price target on Datadog from $120.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Evercore ISI assumed coverage on shares of Datadog in a research note on Monday, July 15th. They set an “outperform” rating and a $150.00 price objective for the company. Finally, Needham & Company LLC dropped their target price on shares of Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Four analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Datadog presently has a consensus rating of “Moderate Buy” and an average target price of $141.19.

Insider Activity at Datadog

In other news, CEO Olivier Pomel sold 85,637 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $104.21, for a total transaction of $8,924,231.77. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction on 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 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO David M. Obstler sold 33,333 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $125.70, for a total transaction of $4,189,958.10. Following the transaction, the chief financial officer now owns 314,158 shares of the company’s stock, valued at approximately $39,489,660.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 361,574 shares of company stock worth $41,291,591 in the last 90 days. 11.78% of the stock is owned by company insiders.

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.