Datadog, Inc. (NASDAQ:DDOG) Shares Purchased by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC increased its stake in Datadog, Inc. (NASDAQ:DDOG) by 112.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 80,598 shares of the company’s stock after purchasing an additional 42,727 shares during the period. Datadog makes up 2.6% of Sierra Summit Advisors LLC’s holdings, making the stock its 10th biggest holding. Sierra Summit Advisors LLC’s holdings in Datadog were worth $10,453,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Hsbc Holdings PLC boosted its stake in shares of Datadog by 47.8% in the 4th quarter. Hsbc Holdings PLC now owns 193,390 shares of the company’s stock valued at $23,505,000 after purchasing an additional 62,533 shares in the last quarter. Congress Asset Management Co. MA acquired a new position in Datadog during the 1st quarter worth approximately $1,083,000. Vanguard Group Inc. boosted its position in Datadog by 0.6% in the first quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock valued at $3,390,485,000 after buying an additional 171,693 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in shares of Datadog during the fourth quarter worth $33,000. Finally, Los Angeles Capital Management LLC grew its stake in shares of Datadog by 9.3% during the first quarter. Los Angeles Capital Management LLC now owns 264,821 shares of the company’s stock worth $32,732,000 after buying an additional 22,544 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Matthew Jacobson sold 9,256 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total value of $1,000,110.80. Following the transaction, the director now owns 48,411 shares of the company’s stock, valued at approximately $5,230,808.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel Kerry Acocella sold 5,955 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $120.09, for a total value of $715,135.95. Following the completion of the sale, the general counsel now owns 85,787 shares in the company, valued at approximately $10,302,160.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Matthew Jacobson sold 9,256 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the transaction, the director now owns 48,411 shares in the company, valued at $5,230,808.55. The disclosure for this sale can be found here. Insiders have sold 561,997 shares of company stock worth $68,517,631 in the last three months. 11.78% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

DDOG has been the topic of several recent research reports. Royal Bank of Canada reissued an “outperform” rating and set a $151.00 price objective on shares of Datadog in a report on Friday, August 9th. Bank of America upgraded shares of Datadog from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $143.00 to $155.00 in a research report on Thursday, May 30th. Monness Crespi & Hardt upgraded shares of Datadog from a “sell” rating to a “neutral” rating in a research report on Wednesday, August 7th. Mizuho raised shares of Datadog from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $135.00 to $155.00 in a research note on Tuesday, July 16th. Finally, Barclays lowered their target price on Datadog from $145.00 to $140.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Four research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $139.88.

Datadog Stock Down 0.3 %

NASDAQ DDOG opened at $109.26 on Monday. The company’s 50 day moving average is $116.11 and its 200-day moving average is $120.08. The firm has a market cap of $36.55 billion, a P/E ratio of 341.44, a price-to-earnings-growth ratio of 27.84 and a beta of 1.11. Datadog, Inc. has a 12-month low of $77.81 and a 12-month high of $138.61.

Datadog (NASDAQ:DDOG) last posted its quarterly 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 analyst estimates of $624.92 million. During the same period last year, the company earned $0.36 earnings per share. The business’s revenue for the quarter was up 26.7% on a year-over-year basis. Equities analysts expect that Datadog, Inc. will post 0.41 EPS for the current 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.