Arkadios Wealth Advisors Reduces Stake in Datadog, Inc. (NASDAQ:DDOG)

Arkadios Wealth Advisors cut its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 10.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,874 shares of the company’s stock after selling 223 shares during the period. Arkadios Wealth Advisors’ holdings in Datadog were worth $216,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of DDOG. SouthState Corp bought a new stake in Datadog during the second quarter valued at $26,000. Blue Trust Inc. purchased a new position in shares of Datadog during the second quarter worth about $37,000. EverSource Wealth Advisors LLC grew its holdings in shares of Datadog by 70.2% during the first quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock worth $39,000 after purchasing an additional 127 shares in the last quarter. American National Bank & Trust bought a new position in shares of Datadog in the third quarter worth approximately $39,000. Finally, Versant Capital Management Inc lifted its position in Datadog by 216.5% during the second quarter. Versant Capital Management Inc now owns 307 shares of the company’s stock valued at $40,000 after purchasing an additional 210 shares during the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the company’s 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 sale, the chief executive officer now owns 405,314 shares in the company, valued at approximately $42,237,771.94. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $111.66, for a total value of $14,192,544.30. Following the sale, the chief technology officer now directly owns 347,684 shares of the company’s stock, valued at approximately $38,822,395.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Olivier Pomel sold 85,637 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now owns 405,314 shares of the company’s stock, valued at $42,237,771.94. 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 529,928 shares of company stock worth $63,079,091 in the last three months. 11.78% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on DDOG shares. Wedbush upgraded shares of Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. BMO Capital Markets lifted their price target on Datadog from $132.00 to $135.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. BTIG Research upgraded Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective on the stock in a research report on Thursday, August 1st. BNP Paribas started coverage on Datadog in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 target price for the company. Finally, Monness Crespi & Hardt upgraded shares of Datadog from a “sell” rating to a “neutral” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $142.54.

Datadog Price Performance

DDOG stock opened at $125.44 on Friday. Datadog, Inc. has a 1 year low of $77.81 and a 1 year high of $138.61. The firm has a 50-day moving average of $118.43 and a 200 day moving average of $119.49. The company has a market cap of $42.29 billion, a P/E ratio of 278.76, a PEG ratio of 22.85 and a beta of 1.11.

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