Inspire Investing LLC Has $264,000 Position in Datadog, Inc. (NASDAQ:DDOG)

Inspire Investing LLC lessened its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 42.9% in the second quarter, Holdings Channel.com reports. The fund owned 2,036 shares of the company’s stock after selling 1,531 shares during the quarter. Inspire Investing LLC’s holdings in Datadog were worth $264,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SouthState Corp acquired a new stake in shares of Datadog during the second quarter worth $26,000. Riverview Trust Co acquired a new position in shares of Datadog during the 1st quarter worth about $26,000. Raleigh Capital Management Inc. bought a new stake in shares of Datadog in the 4th quarter valued at about $29,000. Jones Financial Companies Lllp acquired a new stake in shares of Datadog in the 4th quarter valued at approximately $33,000. Finally, Quest Partners LLC bought a new position in Datadog during the 4th quarter worth approximately $36,000. Institutional investors own 78.29% of the company’s stock.

Insider Buying and Selling at Datadog

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 value of $26,332,092.93. Following the transaction, the chief executive officer now directly 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 available through the SEC website. In other news, CEO Olivier Pomel sold 200,993 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $131.01, for a total value of $26,332,092.93. Following the transaction, the chief executive officer now owns 324,539 shares of the company’s stock, valued at $42,517,854.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Sean Michael Walters sold 2,351 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $125.00, for a total value of $293,875.00. Following the transaction, the executive now owns 197,421 shares in the company, valued at approximately $24,677,625. The disclosure for this sale can be found here. Insiders have sold 554,196 shares of company stock worth $67,580,459 over the last 90 days. Company insiders own 11.78% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Loop Capital reaffirmed a “buy” rating and issued a $160.00 target price on shares of Datadog in a research note on Friday, July 5th. BTIG Research raised Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective on the stock in a research note on Thursday, August 1st. Scotiabank decreased their target price on Datadog from $145.00 to $135.00 and set a “sector outperform” rating for the company in a research note on Friday, August 9th. Needham & Company LLC dropped their price target on Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $150.00 price objective on shares of Datadog in a report on Monday, July 22nd. Four analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $139.88.

Datadog Trading Up 0.9 %

Shares of DDOG opened at $117.31 on Wednesday. The company’s fifty day simple moving average is $114.11 and its 200 day simple moving average is $119.49. Datadog, Inc. has a 1-year low of $77.81 and a 1-year high of $138.61. The company has a market cap of $39.24 billion, a price-to-earnings ratio of 366.59, 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 company had revenue of $645.28 million for the quarter, compared to analyst estimates of $624.92 million. During the same period in the previous year, the business earned $0.36 EPS. Datadog’s revenue for the quarter was up 26.7% compared to the same quarter last year. As a group, research analysts forecast that Datadog, Inc. will post 0.41 earnings per share for the current year.

Datadog 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.