WT Asset Management Ltd Buys New Shares in Datadog, Inc. (NASDAQ:DDOG)

WT Asset Management Ltd acquired a new stake in Datadog, Inc. (NASDAQ:DDOG) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,000 shares of the company’s stock, valued at approximately $575,000. Datadog makes up 0.1% of WT Asset Management Ltd’s investment portfolio, making the stock its 26th biggest position.

Several other institutional investors have also modified their holdings of DDOG. SouthState Corp purchased a new stake in Datadog during the 2nd quarter worth about $26,000. Blue Trust Inc. acquired a new position in Datadog in the second quarter valued at approximately $37,000. EverSource Wealth Advisors LLC increased its stake in Datadog by 70.2% in the first 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 last quarter. American National Bank & Trust purchased a new stake in shares of Datadog during the 3rd quarter worth approximately $39,000. Finally, Versant Capital Management Inc boosted its holdings in shares of Datadog by 216.5% in the 2nd quarter. Versant Capital Management Inc now owns 307 shares of the company’s stock valued at $40,000 after buying an additional 210 shares in the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on DDOG. Wedbush upgraded shares of Datadog from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Sanford C. Bernstein cut their price target on Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Scotiabank lowered their target price 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. Mizuho upgraded shares of Datadog from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $135.00 to $155.00 in a research note on Tuesday, July 16th. Finally, Loop Capital reissued a “buy” rating and set a $160.00 price target on shares of Datadog in a report on Friday, July 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $142.54.

Insiders Place Their Bets

In other news, Director Shardul Shah sold 7,916 shares of the company’s stock in a transaction 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 sale, the director now directly owns 451,533 shares in the company, valued at $57,195,685.11. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Datadog news, Director Shardul Shah sold 7,916 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $126.67, for a total transaction of $1,002,719.72. Following the completion of the sale, the director now directly owns 451,533 shares in the company, valued at $57,195,685.11. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Kerry Acocella sold 2,452 shares of the business’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $120.06, for a total value of $294,387.12. Following the transaction, the general counsel now owns 74,421 shares in the company, valued at approximately $8,934,985.26. This 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 valued at $63,079,091 over the last quarter. Company insiders own 11.78% of the company’s stock.

Datadog Trading Down 1.5 %

Shares of NASDAQ:DDOG traded down $1.83 during midday trading on Friday, hitting $123.61. 1,650,004 shares of the stock were exchanged, compared to its average volume of 3,748,286. Datadog, Inc. has a twelve month low of $77.81 and a twelve month high of $138.61. The company has a 50 day moving average price of $118.43 and a 200-day moving average price of $119.49. The stock has a market cap of $41.68 billion, a P/E ratio of 278.76, a PEG ratio of 23.40 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. The business had revenue of $645.28 million during 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 company’s revenue was up 26.7% on a year-over-year basis. During the same period last year, the company posted $0.36 EPS. On average, equities research analysts expect that Datadog, Inc. will post 0.42 earnings per share 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.