Sax Wealth Advisors LLC Has $941,000 Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Sax Wealth Advisors LLC lowered its stake in Datadog, Inc. (NASDAQ:DDOG) by 4.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 8,180 shares of the company’s stock after selling 358 shares during the period. Sax Wealth Advisors LLC’s holdings in Datadog were worth $941,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Kodai Capital Management LP acquired a new position in shares of Datadog during the first quarter worth $116,054,000. DNB Asset Management AS increased its stake in Datadog by 1,974.5% in the second quarter. DNB Asset Management AS now owns 847,600 shares of the company’s stock valued at $109,925,000 after purchasing an additional 806,741 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in Datadog by 1,597.9% in the second quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company’s stock valued at $101,841,000 after purchasing an additional 739,011 shares in the last quarter. Bank of Montreal Can increased its position in shares of Datadog by 129.2% during the second quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock worth $79,384,000 after acquiring an additional 344,431 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Datadog by 9.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock worth $511,620,000 after acquiring an additional 331,808 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Trading Up 0.2 %

NASDAQ DDOG opened at $126.22 on Friday. The company’s 50-day moving average price is $116.27 and its 200-day moving average price is $119.42. The stock has a market cap of $42.22 billion, a PE ratio of 394.44, a PEG ratio of 22.85 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 net margin of 6.81% and a return on equity of 9.01%. The firm had revenue of $645.28 million for the quarter, compared to analysts’ expectations of $624.92 million. During the same period in the prior year, the business posted $0.36 earnings per share. The business’s revenue for the quarter was up 26.7% on a year-over-year basis. As a group, sell-side analysts forecast that Datadog, Inc. will post 0.42 earnings per share for the current year.

Wall Street Analyst Weigh In

DDOG has been the subject of several recent research reports. Monness Crespi & Hardt raised shares of Datadog from a “sell” rating to a “neutral” rating in a research report on Wednesday, August 7th. DA Davidson raised shares of Datadog from a “neutral” rating to a “buy” rating and increased their target price for the company from $115.00 to $140.00 in a research report on Tuesday, October 1st. BTIG Research raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective for the company in a report on Thursday, August 1st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $150.00 target price on shares of Datadog in a research note on Monday, July 22nd. Finally, Scotiabank lowered their price objective on shares of Datadog from $145.00 to $135.00 and set a “sector outperform” rating on the stock in a research report on Friday, August 9th. Three research analysts have rated the stock with 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, Datadog currently has an average rating of “Moderate Buy” and an average target price of $142.11.

Insiders Place Their Bets

In other news, CEO Olivier Pomel sold 85,637 shares of the firm’s stock in a transaction dated 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 approximately $42,237,771.94. This trade represents a 0.00 % decrease in their position. The transaction 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 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 transaction, the chief technology officer now directly owns 347,684 shares of the company’s stock, valued at $38,822,395.44. This trade represents a 0.00 % decrease in their position. The sale 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 firm’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 transaction, the chief executive officer now directly owns 405,314 shares of the company’s stock, valued at $42,237,771.94. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 529,928 shares of company stock worth $63,079,091 in the last three months. Corporate insiders own 11.78% of the company’s stock.

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.