Brighton Jones LLC Takes $206,000 Position in Datadog, Inc. (NASDAQ:DDOG)

Brighton Jones LLC bought a new position in shares of Datadog, Inc. (NASDAQ:DDOG) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 1,589 shares of the company’s stock, valued at approximately $206,000.

Several other large investors also recently bought and sold shares of DDOG. Kodai Capital Management LP purchased a new stake in shares of Datadog in the 1st quarter valued at about $116,054,000. 1832 Asset Management L.P. raised its holdings in shares of Datadog by 47.9% in the fourth quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock worth $317,955,000 after acquiring an additional 848,000 shares during the last quarter. DNB Asset Management AS lifted its holdings in Datadog by 1,974.5% in the 2nd quarter. DNB Asset Management AS now owns 847,600 shares of the company’s stock valued at $109,925,000 after purchasing an additional 806,741 shares in the last quarter. Vanguard Group Inc. boosted its position in Datadog by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 27,259,414 shares of the company’s stock worth $3,308,748,000 after acquiring an additional 734,539 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Datadog by 9.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock worth $511,620,000 after purchasing an additional 331,808 shares during the period. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wedbush reaffirmed an “outperform” rating and issued a $155.00 target price on shares of Datadog in a research report on Friday, August 9th. BTIG Research raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price target for the company in a report on Thursday, August 1st. 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 research report on Friday, August 9th. Bank of America raised 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. Finally, UBS Group increased their target price on shares of Datadog from $120.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. Four investment 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, the stock has an average rating of “Moderate Buy” and an average price target of $139.88.

Insider Activity

In related news, 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 value of $218,625.00. Following the transaction, the insider now directly owns 92,025 shares of the company’s stock, valued at approximately $11,503,125. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CRO Sean Michael Walters sold 2,351 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $125.00, for a total transaction of $293,875.00. Following the completion of the sale, the executive now owns 197,421 shares in the company, valued at approximately $24,677,625. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Madre Armelle De sold 1,749 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $125.00, for a total value of $218,625.00. Following the completion of the transaction, the insider now owns 92,025 shares in the company, valued at $11,503,125. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 556,042 shares of company stock worth $67,802,495. Corporate insiders own 11.78% of the company’s stock.

Datadog Stock Down 0.7 %

Shares of DDOG opened at $114.76 on Monday. Datadog, Inc. has a twelve month low of $77.81 and a twelve month high of $138.61. The firm has a 50 day moving average of $114.64 and a 200 day moving average of $119.56. The company has a market capitalization of $38.39 billion, a P/E ratio of 358.63, a price-to-earnings-growth ratio of 27.84 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last issued its earnings results 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 company had revenue of $645.28 million during the quarter, compared to the consensus estimate of $624.92 million. During the same quarter in the prior year, the firm posted $0.36 EPS. Datadog’s quarterly revenue was up 26.7% compared to the same quarter last year. On average, sell-side analysts expect that Datadog, Inc. will post 0.41 EPS for the current 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.