Datadog, Inc. (NASDAQ:DDOG) Stake Boosted by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. raised its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 50.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,587 shares of the company’s stock after buying an additional 1,199 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Datadog were worth $465,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in DDOG. Dimensional Fund Advisors LP grew its position in Datadog by 12.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 254,076 shares of the company’s stock worth $30,842,000 after purchasing an additional 28,394 shares in the last quarter. Avantax Advisory Services Inc. grew its holdings in shares of Datadog by 32.6% during the fourth quarter. Avantax Advisory Services Inc. now owns 4,729 shares of the company’s stock valued at $574,000 after buying an additional 1,162 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Datadog by 373.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 11,172 shares of the company’s stock valued at $1,356,000 after buying an additional 8,812 shares in the last quarter. Beacon Pointe Advisors LLC lifted its stake in Datadog by 29.6% in the 4th quarter. Beacon Pointe Advisors LLC now owns 4,877 shares of the company’s stock worth $592,000 after acquiring an additional 1,113 shares in the last quarter. Finally, Panagora Asset Management Inc. lifted its stake in Datadog by 1.0% in the 4th quarter. Panagora Asset Management Inc. now owns 9,026 shares of the company’s stock worth $1,096,000 after acquiring an additional 89 shares in the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Datadog

In related news, Director Matthew Jacobson sold 9,256 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the transaction, the director now directly owns 48,411 shares in the company, valued at $5,230,808.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Madre Armelle De sold 1,749 shares of Datadog stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $125.00, for a total transaction of $218,625.00. Following the sale, the insider now directly owns 92,025 shares in the company, valued at approximately $11,503,125. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Matthew Jacobson sold 9,256 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the completion of the transaction, the director now directly owns 48,411 shares of the company’s stock, valued at approximately $5,230,808.55. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 561,997 shares of company stock worth $68,517,631. Company insiders own 11.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on DDOG shares. Needham & Company LLC dropped their target price on Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, August 9th. BTIG Research upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective on the stock in a research note on Thursday, August 1st. Mizuho raised shares of Datadog from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $135.00 to $155.00 in a research note on Tuesday, July 16th. Loop Capital reaffirmed a “buy” rating and issued a $160.00 price target on shares of Datadog in a research note on Friday, July 5th. Finally, Bank of America raised Datadog from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $143.00 to $155.00 in a research report on Thursday, May 30th. Four research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Datadog presently has an average rating of “Moderate Buy” and an average price target of $139.88.

Datadog Stock Down 0.3 %

Shares of NASDAQ DDOG opened at $109.26 on Friday. Datadog, Inc. has a 12 month low of $77.81 and a 12 month high of $138.61. The company has a market cap of $36.55 billion, a P/E ratio of 341.44, a P/E/G ratio of 27.84 and a beta of 1.11. The business’s 50 day moving average is $116.11 and its two-hundred day moving average is $120.15.

Datadog (NASDAQ:DDOG) last announced its 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. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The business had revenue of $645.28 million for the quarter, compared to analyst estimates of $624.92 million. During the same quarter in the previous year, the firm posted $0.36 earnings per share. Datadog’s revenue was up 26.7% compared to the same quarter last year. Sell-side analysts expect that Datadog, Inc. will post 0.41 earnings per share for the current fiscal 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.