Hennion & Walsh Asset Management Inc. Has $552,000 Position in Datadog, Inc. (NASDAQ:DDOG)

Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 40.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 4,801 shares of the company’s stock after buying an additional 1,383 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Datadog were worth $552,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC bought a new stake in Datadog during the third quarter worth about $4,038,000. Lecap Asset Management Ltd. bought a new stake in shares of Datadog during the 3rd quarter worth approximately $4,559,000. Foundations Investment Advisors LLC boosted its holdings in shares of Datadog by 14.9% in the 3rd quarter. Foundations Investment Advisors LLC now owns 5,411 shares of the company’s stock valued at $623,000 after buying an additional 702 shares during the last quarter. Raleigh Capital Management Inc. grew its stake in shares of Datadog by 80.5% in the third quarter. Raleigh Capital Management Inc. now owns 426 shares of the company’s stock valued at $49,000 after buying an additional 190 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in Datadog by 3.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 19,530 shares of the company’s stock worth $2,247,000 after buying an additional 682 shares during the last quarter. Institutional investors own 78.29% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on DDOG. BTIG Research raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective for the company in a research report on Thursday, August 1st. Loop Capital reiterated a “buy” rating and issued a $160.00 target price on shares of Datadog in a research note on Friday, July 5th. Needham & Company LLC lowered 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. Royal Bank of Canada restated an “outperform” rating and issued a $151.00 price objective on shares of Datadog in a research note on Friday, August 9th. Finally, Sanford C. Bernstein reduced their target price on Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $142.54.

Datadog Stock Performance

DDOG opened at $126.37 on Tuesday. Datadog, Inc. has a 52-week low of $77.81 and a 52-week high of $138.61. The firm has a market cap of $42.27 billion, a P/E ratio of 394.91, a price-to-earnings-growth ratio of 22.85 and a beta of 1.11. The business’s fifty day moving average is $117.78 and its 200-day moving average is $119.38.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. The firm had revenue of $645.28 million for the quarter, compared to the consensus estimate of $624.92 million. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The business’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 earnings per share. On average, research analysts predict that Datadog, Inc. will post 0.42 earnings per share for the current fiscal year.

Insider Activity at Datadog

In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $104.21, for a total transaction of $8,924,231.77. Following the completion of the sale, the chief executive officer now directly owns 405,314 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $104.21, for a total transaction 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 approximately $42,237,771.94. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shardul Shah sold 7,916 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $126.67, for a total transaction of $1,002,719.72. Following the completion of the sale, the director now owns 451,533 shares in the company, valued at approximately $57,195,685.11. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 529,928 shares of company stock valued at $63,079,091 over the last three months. 11.78% of the stock is owned by insiders.

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.