StoneCrest Wealth Management Inc. Purchases 144 Shares of Datadog, Inc. (NASDAQ:DDOG)

StoneCrest Wealth Management Inc. grew its position in Datadog, Inc. (NASDAQ:DDOG) by 3.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,897 shares of the company’s stock after purchasing an additional 144 shares during the quarter. StoneCrest Wealth Management Inc.’s holdings in Datadog were worth $563,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Congress Asset Management Co. MA bought a new stake in Datadog during the first quarter valued at $1,083,000. Vanguard Group Inc. grew its stake in Datadog by 0.6% during the first quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock worth $3,390,485,000 after purchasing an additional 171,693 shares during the period. Los Angeles Capital Management LLC increased its holdings in Datadog by 9.3% in the first quarter. Los Angeles Capital Management LLC now owns 264,821 shares of the company’s stock worth $32,732,000 after purchasing an additional 22,544 shares in the last quarter. Bank of Montreal Can lifted its stake in Datadog by 129.2% in the second quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock valued at $79,384,000 after buying an additional 344,431 shares during the period. Finally, Plato Investment Management Ltd boosted its holdings in shares of Datadog by 1,648.8% during the 1st quarter. Plato Investment Management Ltd now owns 5,159 shares of the company’s stock worth $638,000 after buying an additional 4,864 shares in the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Stock Up 1.1 %

DDOG stock opened at $123.72 on Wednesday. The business has a 50 day moving average of $113.79 and a 200-day moving average of $119.16. The firm has a market cap of $41.38 billion, a PE ratio of 386.63, a P/E/G ratio of 28.94 and a beta of 1.11. Datadog, Inc. has a 12-month low of $77.81 and a 12-month high of $138.61.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. The firm had revenue of $645.28 million during 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 business’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 EPS. On average, research analysts expect that Datadog, Inc. will post 0.42 earnings per share for the current year.

Insider Buying and Selling at Datadog

In related news, General Counsel Kerry Acocella sold 2,452 shares of Datadog stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $120.06, for a total value of $294,387.12. Following the sale, the general counsel now owns 74,421 shares of the company’s stock, valued at approximately $8,934,985.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, General Counsel Kerry Acocella sold 2,452 shares of Datadog 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 completion of the sale, the general counsel now owns 74,421 shares of the company’s stock, valued at approximately $8,934,985.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Matthew Jacobson sold 9,256 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were 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 in the company, valued at approximately $5,230,808.55. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 240,282 shares of company stock worth $26,311,431 over the last three months. 11.78% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DDOG. UBS Group lifted their price objective on shares of Datadog from $120.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $151.00 price objective on shares of Datadog in a report on Friday, August 9th. Cantor Fitzgerald reissued an “overweight” rating and set a $150.00 price objective on shares of Datadog in a research report on Monday, July 22nd. Barclays decreased their target price on Datadog from $145.00 to $140.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Finally, BMO Capital Markets dropped their price target on Datadog from $140.00 to $132.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Four investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.19.

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.