Inspire Investing LLC Buys 448 Shares of Datadog, Inc. (NASDAQ:DDOG)

Inspire Investing LLC boosted its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 22.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,484 shares of the company’s stock after purchasing an additional 448 shares during the quarter. Inspire Investing LLC’s holdings in Datadog were worth $286,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Kodai Capital Management LP acquired a new stake in shares of Datadog during the 1st quarter worth about $116,054,000. DNB Asset Management AS grew its stake in Datadog by 1,974.5% during the second quarter. DNB Asset Management AS now owns 847,600 shares of the company’s stock worth $109,925,000 after buying an additional 806,741 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Datadog by 1,597.9% during the second quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company’s stock worth $101,841,000 after buying an additional 739,011 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Datadog by 129.2% in the second 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 during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted 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 worth $511,620,000 after acquiring an additional 331,808 shares in the last quarter. 78.29% of the stock is owned by institutional investors.

Insider Activity

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $111.66, for a total transaction of $14,192,544.30. Following the completion of the sale, the chief technology officer now owns 347,684 shares of the company’s stock, valued at $38,822,395.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $111.66, for a total value of $14,192,544.30. Following the transaction, the chief technology officer now directly owns 347,684 shares of the company’s stock, valued at $38,822,395.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Shardul Shah sold 15,832 shares of Datadog 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 of the company’s stock, valued at $55,143,068.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 529,928 shares of company stock valued at $63,079,091 over the last three months. Insiders own 11.78% of the company’s stock.

Datadog Stock Performance

Shares of DDOG opened at $128.12 on Friday. The firm has a market capitalization of $42.86 billion, a PE ratio of 400.38, a P/E/G ratio of 22.85 and a beta of 1.11. Datadog, Inc. has a 52-week low of $77.81 and a 52-week high of $138.61. The stock has a 50 day simple moving average of $116.58 and a 200 day simple moving average of $119.45.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates 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 last year, the firm posted $0.36 EPS. The company’s quarterly revenue was up 26.7% on a year-over-year basis. Equities research analysts predict that Datadog, Inc. will post 0.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on DDOG shares. Monness Crespi & Hardt upgraded Datadog from a “sell” rating to a “neutral” rating in a research report on Wednesday, August 7th. UBS Group reaffirmed an “underperform” rating on shares of Datadog in a report on Friday. Evercore ISI assumed coverage on shares of Datadog in a report on Monday, July 15th. They set an “outperform” rating and a $150.00 price objective on the stock. Barclays dropped their target price on shares of Datadog from $145.00 to $140.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $142.11.

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.