ORG Wealth Partners LLC Takes Position in Datadog, Inc. (NASDAQ:DDOG)

ORG Wealth Partners LLC purchased a new stake in Datadog, Inc. (NASDAQ:DDOG) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 382 shares of the company’s stock, valued at approximately $44,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DDOG. Kodai Capital Management LP purchased a new stake in shares of Datadog in the first quarter valued at $116,054,000. DNB Asset Management AS lifted its stake in Datadog by 1,974.5% in the 2nd quarter. DNB Asset Management AS now owns 847,600 shares of the company’s stock worth $109,925,000 after acquiring an additional 806,741 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in Datadog by 1,597.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company’s stock worth $101,841,000 after acquiring an additional 739,011 shares during the period. Bank of Montreal Can grew its stake in Datadog by 129.2% during the 2nd quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock valued at $79,384,000 after acquiring an additional 344,431 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Datadog by 9.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock valued at $511,620,000 after purchasing an additional 331,808 shares during the period. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Trading Down 1.7 %

Shares of DDOG stock opened at $126.88 on Wednesday. Datadog, Inc. has a 1 year low of $77.81 and a 1 year high of $138.61. The firm’s fifty day simple moving average is $115.66 and its 200 day simple moving average is $119.33. The firm has a market capitalization of $42.44 billion, a P/E ratio of 396.50, a price-to-earnings-growth ratio of 22.85 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) 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 the consensus estimate of $624.92 million. During the same quarter in the previous year, the firm posted $0.36 EPS. The business’s revenue was up 26.7% compared to the same quarter last year. Equities research analysts anticipate that Datadog, Inc. will post 0.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

DDOG has been the topic of a number of research analyst reports. Mizuho raised shares of Datadog from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $135.00 to $155.00 in a research report on Tuesday, July 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $151.00 price target on shares of Datadog in a research note 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. BNP Paribas initiated coverage on Datadog in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 target price on the stock. Finally, Evercore ISI initiated coverage on Datadog in a report on Monday, July 15th. They set an “outperform” rating and a $150.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Datadog presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.19.

Insider Buying and Selling at Datadog

In other news, CRO Sean Michael Walters sold 2,322 shares of Datadog stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $125.00, for a total transaction of $290,250.00. Following the sale, the executive now owns 183,512 shares of the company’s stock, valued at approximately $22,939,000. This trade 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. In related news, CEO Olivier Pomel sold 85,637 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $104.21, for a total value of $8,924,231.77. Following the completion of the transaction, the chief executive officer now owns 405,314 shares of the company’s stock, valued at $42,237,771.94. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Sean Michael Walters sold 2,322 shares of Datadog stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $125.00, for a total value of $290,250.00. Following the sale, the executive now directly owns 183,512 shares in the company, valued at $22,939,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 361,574 shares of company stock valued at $41,291,591 in the last quarter. Corporate insiders own 11.78% of the company’s stock.

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.