Sunbelt Securities Inc. Buys 1,020 Shares of Datadog, Inc. (NASDAQ:DDOG)

Sunbelt Securities Inc. lifted its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 67.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,535 shares of the company’s stock after purchasing an additional 1,020 shares during the quarter. Sunbelt Securities Inc.’s holdings in Datadog were worth $329,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in DDOG. SouthState Corp bought a new position in Datadog in the 2nd quarter valued at about $26,000. Riverview Trust Co bought a new position in Datadog in the 1st quarter valued at about $26,000. Raleigh Capital Management Inc. bought a new position in Datadog in the 4th quarter valued at about $29,000. Jones Financial Companies Lllp bought a new position in Datadog in the 4th quarter valued at about $33,000. Finally, Blue Trust Inc. bought a new position in Datadog in the 2nd quarter valued at about $37,000. Institutional investors own 78.29% of the company’s stock.

Datadog Trading Up 2.0 %

Datadog stock opened at $116.22 on Thursday. Datadog, Inc. has a 1-year low of $77.81 and a 1-year high of $138.61. The firm has a market capitalization of $38.88 billion, a price-to-earnings ratio of 363.19, a P/E/G ratio of 28.94 and a beta of 1.11. The firm has a 50 day simple moving average of $113.49 and a 200 day simple moving average of $119.20.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.43 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $624.92 million. During the same period last year, the firm earned $0.36 EPS. The business’s quarterly revenue was up 26.7% compared to the same quarter last year. On average, equities research analysts forecast that Datadog, Inc. will post 0.42 EPS for the current year.

Analysts Set New Price Targets

DDOG has been the subject of several analyst reports. Barclays decreased their price objective on shares of Datadog from $145.00 to $140.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $151.00 price objective on shares of Datadog in a research note on Friday, August 9th. Wedbush reiterated an “outperform” rating and issued a $155.00 price objective on shares of Datadog in a research note on Friday, August 9th. DA Davidson upgraded shares of Datadog from a “neutral” rating to a “buy” rating and increased their price objective for the company from $115.00 to $140.00 in a research note on Tuesday. Finally, BMO Capital Markets decreased their price objective on shares of Datadog from $140.00 to $132.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Four research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Datadog presently has a consensus rating of “Moderate Buy” and an average price target of $140.85.

Insider Buying and Selling at Datadog

In other Datadog news, CEO Olivier Pomel sold 200,993 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $131.01, for a total value of $26,332,092.93. Following the completion of the transaction, the chief executive officer now directly owns 324,539 shares of the company’s stock, valued at approximately $42,517,854.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Olivier Pomel sold 200,993 shares of Datadog stock in a transaction on Monday, July 8th. The shares were sold at an average price of $131.01, for a total transaction of $26,332,092.93. Following the completion of the sale, the chief executive officer now directly owns 324,539 shares of the company’s stock, valued at approximately $42,517,854.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew Jacobson sold 9,256 shares of Datadog stock in a transaction on 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 sale, the director now directly owns 48,411 shares of the company’s stock, valued at $5,230,808.55. The disclosure for this sale can be found here. Insiders sold a total of 422,991 shares of company stock valued at $50,448,980 in the last three months. Company 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.