Accurate Wealth Management LLC Invests $558,000 in Datadog, Inc. (NASDAQ:DDOG)

Accurate Wealth Management LLC purchased a new stake in shares of Datadog, Inc. (NASDAQ:DDOG) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 4,401 shares of the company’s stock, valued at approximately $558,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. SouthState Corp purchased a new position in Datadog during the 2nd quarter valued at about $26,000. Riverview Trust Co purchased a new position in Datadog during the first quarter valued at approximately $26,000. Blue Trust Inc. bought a new stake in Datadog during the 2nd quarter worth approximately $37,000. Versant Capital Management Inc lifted its stake 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 purchasing an additional 210 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Datadog by 70.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock valued at $39,000 after purchasing an additional 127 shares during the period. 78.29% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Shardul Shah sold 7,916 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $126.67, for a total transaction of $1,002,719.72. Following the completion of the transaction, the director now owns 451,533 shares in the company, valued at $57,195,685.11. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Datadog news, Director Shardul Shah sold 7,916 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $126.67, for a total transaction of $1,002,719.72. Following the completion of the transaction, the director now owns 451,533 shares in the company, valued at $57,195,685.11. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO David M. Obstler sold 33,333 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $130.39, for a total value of $4,346,289.87. Following the sale, the chief financial officer now directly owns 314,158 shares in the company, valued at $40,963,061.62. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 529,928 shares of company stock worth $63,079,091. Company insiders own 11.78% of the company’s stock.

Datadog Trading Up 1.5 %

Shares of DDOG opened at $128.12 on Friday. Datadog, Inc. has a 12 month low of $77.81 and a 12 month high of $138.61. The business’s fifty day simple moving average is $116.58 and its two-hundred day simple moving average is $119.42. The company has a market cap of $42.86 billion, a price-to-earnings ratio of 400.38, a P/E/G ratio of 22.85 and a beta of 1.11.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DDOG. Loop Capital reiterated a “buy” rating and issued a $160.00 price objective on shares of Datadog in a research report on Friday, July 5th. Mizuho upgraded Datadog from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $135.00 to $155.00 in a research report on Tuesday, July 16th. Scotiabank decreased 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $150.00 target price on shares of Datadog in a research report on Monday, July 22nd. Finally, Barclays decreased their price target on shares of Datadog from $145.00 to $140.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Datadog has an average rating of “Moderate Buy” and an average target price of $142.11.

Datadog Company 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.