Datadog, Inc. (NASDAQ:DDOG) Stake Cut by Farther Finance Advisors LLC

Farther Finance Advisors LLC trimmed its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 11.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,761 shares of the company’s stock after selling 232 shares during the period. Farther Finance Advisors LLC’s holdings in Datadog were worth $203,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. SouthState Corp bought a new position in shares of Datadog in the second quarter valued at approximately $26,000. Blue Trust Inc. bought a new position in Datadog in the 2nd quarter valued at $37,000. EverSource Wealth Advisors LLC lifted its position in Datadog by 70.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock worth $39,000 after buying an additional 127 shares in the last quarter. American National Bank & Trust bought a new position in Datadog in the 3rd quarter valued at $39,000. Finally, Versant Capital Management Inc increased its position in Datadog by 216.5% in 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. Institutional investors and hedge funds own 78.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DDOG. Robert W. Baird boosted their price objective on shares of Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $151.00 price objective on shares of Datadog in a research note on Friday, August 9th. Rosenblatt Securities increased their target price on shares of Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a research report on Friday. BTIG Research raised Datadog from a “neutral” rating to a “buy” rating and set a $143.00 target price for the company in a research report on Thursday, August 1st. Finally, UBS Group reiterated an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.96.

Datadog Price Performance

DDOG opened at $124.45 on Friday. The business has a fifty day simple moving average of $119.67 and a 200 day simple moving average of $119.58. Datadog, Inc. has a 1 year low of $98.80 and a 1 year high of $138.61. The company has a market capitalization of $41.96 billion, a PE ratio of 276.56, a price-to-earnings-growth ratio of 23.44 and a beta of 1.10.

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, beating the consensus estimate of $0.37 by $0.06. The firm had revenue of $645.28 million for the quarter, compared to analyst estimates of $624.92 million. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The company’s revenue was up 26.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.36 earnings per share. Equities analysts anticipate that Datadog, Inc. will post 0.42 earnings per share for the current fiscal year.

Insider Activity at Datadog

In other Datadog news, Director Shardul Shah sold 15,832 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $120.02, for a total value of $1,900,156.64. Following the transaction, the director now directly owns 459,449 shares in the company, valued at $55,143,068.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Datadog news, CFO David M. Obstler sold 33,333 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $130.39, for a total value of $4,346,289.87. Following the completion of the transaction, the chief financial officer now directly owns 314,158 shares in the company, valued at approximately $40,963,061.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shardul Shah sold 15,832 shares of the company’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $120.02, for a total transaction of $1,900,156.64. Following the completion of the sale, the director now owns 459,449 shares in the company, valued at approximately $55,143,068.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 444,291 shares of company stock valued at $54,154,859. 11.78% of the stock is owned by insiders.

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.