Choreo LLC Takes $536,000 Position in Datadog, Inc. (NASDAQ:DDOG)

Choreo LLC bought a new stake in Datadog, Inc. (NASDAQ:DDOG) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,111 shares of the company’s stock, valued at approximately $536,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Baader Bank Aktiengesellschaft grew its holdings in shares of Datadog by 1.5% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 5,077 shares of the company’s stock valued at $657,000 after purchasing an additional 77 shares during the last quarter. First National Trust Co grew its holdings in shares of Datadog by 3.3% during the 1st quarter. First National Trust Co now owns 2,447 shares of the company’s stock valued at $302,000 after purchasing an additional 79 shares during the last quarter. Panagora Asset Management Inc. grew its holdings in shares of Datadog by 1.0% during the 4th quarter. Panagora Asset Management Inc. now owns 9,026 shares of the company’s stock valued at $1,096,000 after purchasing an additional 89 shares during the last quarter. HB Wealth Management LLC grew its holdings in shares of Datadog by 5.2% during the 2nd quarter. HB Wealth Management LLC now owns 1,926 shares of the company’s stock valued at $250,000 after purchasing an additional 95 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its holdings in shares of Datadog by 1.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 8,867 shares of the company’s stock valued at $1,096,000 after purchasing an additional 103 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Datadog news, insider Madre Armelle De sold 1,749 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $125.00, for a total transaction of $218,625.00. Following the transaction, the insider now owns 92,025 shares in the company, valued at $11,503,125. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Datadog news, CEO Olivier Pomel sold 200,993 shares of the company’s 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 transaction, the chief executive officer now owns 324,539 shares in the company, valued at $42,517,854.39. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Madre Armelle De sold 1,749 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $125.00, for a total transaction of $218,625.00. Following the transaction, the insider now owns 92,025 shares in the company, valued at approximately $11,503,125. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 561,997 shares of company stock worth $68,517,631. Insiders own 11.78% of the company’s stock.

Datadog Stock Down 0.3 %

Datadog stock opened at $109.26 on Monday. Datadog, Inc. has a 12-month low of $77.81 and a 12-month high of $138.61. The firm’s fifty day moving average is $116.11 and its 200 day moving average is $120.08. The company has a market capitalization of $36.55 billion, a PE ratio of 341.44, a PEG ratio of 27.84 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $624.92 million. During the same quarter in the prior year, the company posted $0.36 earnings per share. The business’s revenue was up 26.7% on a year-over-year basis. Sell-side analysts expect that Datadog, Inc. will post 0.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on DDOG shares. Bank of America raised shares of Datadog from a “neutral” rating to a “buy” rating and lifted their price target for the company from $143.00 to $155.00 in a report on Thursday, May 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $150.00 price target on shares of Datadog in a report on Monday, July 22nd. Scotiabank reduced their target price on shares of Datadog from $145.00 to $135.00 and set a “sector outperform” rating on the stock in a report on Friday, August 9th. Monness Crespi & Hardt raised shares of Datadog from a “sell” rating to a “neutral” rating in a report on Wednesday, August 7th. Finally, Mizuho raised shares of Datadog from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $135.00 to $155.00 in a report on Tuesday, July 16th. Four analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Datadog currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.88.

Datadog Company Profile

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.