Hudock Inc. Increases Position in Datadog, Inc. (NASDAQ:DDOG)

Hudock Inc. boosted its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 3.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,596 shares of the company’s stock after buying an additional 116 shares during the quarter. Hudock Inc.’s holdings in Datadog were worth $414,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. SouthState Corp bought a new stake in shares of Datadog in the 2nd quarter worth approximately $26,000. Riverview Trust Co bought a new position in shares of Datadog during the 1st quarter worth $26,000. Blue Trust Inc. bought a new stake in Datadog in the 2nd quarter valued at about $37,000. Versant Capital Management Inc boosted its position in Datadog by 216.5% during the second quarter. Versant Capital Management Inc now owns 307 shares of the company’s stock worth $40,000 after purchasing an additional 210 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Datadog by 70.2% in the first quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock worth $39,000 after purchasing an additional 127 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Stock Up 2.6 %

NASDAQ DDOG traded up $3.18 on Friday, reaching $127.07. The stock had a trading volume of 461,904 shares, compared to its average volume of 3,758,764. Datadog, Inc. has a 12-month low of $77.81 and a 12-month high of $138.61. The stock has a fifty day moving average price of $117.21 and a two-hundred day moving average price of $119.46. The firm has a market capitalization of $42.50 billion, a price-to-earnings ratio of 387.16, a P/E/G ratio of 22.85 and a beta of 1.11.

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

Insiders Place Their Bets

In related news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog 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 owns 347,684 shares in the company, valued at $38,822,395.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $111.66, for a total transaction of $14,192,544.30. Following the completion of the sale, the chief technology officer now owns 347,684 shares in the company, valued at approximately $38,822,395.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Olivier Pomel sold 85,637 shares of Datadog stock in a transaction that occurred 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 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 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 quarter. 11.78% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on DDOG. Needham & Company LLC cut their target price on Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Evercore ISI started coverage on shares of Datadog in a research report on Monday, July 15th. They issued an “outperform” rating and a $150.00 price objective on the stock. Loop Capital restated a “buy” rating and issued a $160.00 target price on shares of Datadog in a research note on Friday, July 5th. DA Davidson raised Datadog from a “neutral” rating to a “buy” rating and upped their price objective for the company from $115.00 to $140.00 in a research report on Tuesday, October 1st. Finally, BNP Paribas assumed coverage on shares of Datadog in a research note on Tuesday, October 8th. They set an “outperform” rating and a $150.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $142.54.

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.