Datadog, Inc. $DDOG Holdings Lifted by New York Life Investment Management LLC

New York Life Investment Management LLC lifted its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 10.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 56,217 shares of the company’s stock after buying an additional 5,450 shares during the quarter. New York Life Investment Management LLC’s holdings in Datadog were worth $15,395,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Cornerstone Financial Management LLC increased its position in Datadog by 54.9% during the second quarter. Cornerstone Financial Management LLC now owns 127 shares of the company’s stock worth $33,000 after acquiring an additional 45 shares during the period. QTR Family Wealth LLC raised its stake in Datadog by 3.2% in the 3rd quarter. QTR Family Wealth LLC now owns 1,499 shares of the company’s stock worth $411,000 after purchasing an additional 47 shares in the last quarter. United Asset Strategies Inc. raised its stake in Datadog by 1.1% in the 3rd quarter. United Asset Strategies Inc. now owns 5,997 shares of the company’s stock worth $1,642,000 after purchasing an additional 68 shares in the last quarter. State of Wyoming boosted its holdings in Datadog by 4.1% in the 1st quarter. State of Wyoming now owns 1,946 shares of the company’s stock valued at $230,000 after purchasing an additional 76 shares during the period. Finally, Roberts Wealth Advisors LLC boosted its holdings in Datadog by 0.6% in the 3rd quarter. Roberts Wealth Advisors LLC now owns 15,720 shares of the company’s stock valued at $4,305,000 after purchasing an additional 91 shares during the period. Institutional investors own 78.29% of the company’s stock.

Top Datadog Stories

These are some of the DDOG stories that stood out recently:

• Positive Sentiment: Datadog shares rose alongside other software stocks after cloud-computing provider CoreWeave reported results that lifted sentiment across the sector. This appears to be a broader industry tailwind rather than a company-specific announcement. Datadog and Cloudflare Rise as CoreWeave’s Results Lift Software Stocks
• Neutral Sentiment: Datadog plans to present at upcoming RBC, UBS and Barclays technology conferences. The appearances may provide opportunities to discuss its business outlook, but no new financial guidance was included in the announcement. Datadog to Present at Upcoming Investor Conferences
• Neutral Sentiment: Wall Street’s average brokerage recommendation is bullish, but the coverage cautions that analyst recommendations can be overly optimistic and should not be treated as a standalone buy signal. Is It Worth Investing in Datadog Based on Wall Street’s Bullish Views?

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DDOG. Benchmark restated a “buy” rating on shares of Datadog in a research report on Tuesday, July 28th. KeyCorp raised their target price on shares of Datadog from $225.00 to $320.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Evercore reiterated an “outperform” rating and issued a $300.00 price target on shares of Datadog in a research report on Monday, November 2nd. Wells Fargo & Company cut their price target on Datadog from $325.00 to $300.00 and set an “overweight” rating for the company in a research note on Thursday, November 5th. Finally, BTIG Research reduced their price target on Datadog from $289.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $278.43.

Datadog Stock Performance

Shares of Datadog stock opened at $184.38 on Thursday. The company has a 50 day moving average of $244.64 and a 200-day moving average of $200.80. Datadog, Inc. has a 1-year low of $98.01 and a 1-year high of $300.68. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 0.21. The company has a market cap of $66.21 billion, a PE ratio of 259.69, a price-to-earnings-growth ratio of 10.74 and a beta of 1.50.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.17. Datadog had a net margin of 6.12% and a return on equity of 7.28%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the firm posted $0.55 earnings per share. The firm’s quarterly revenue was up 35.2% compared to the same quarter last year. As a group, equities research analysts forecast that Datadog, Inc. will post 0.82 earnings per share for the current fiscal year.

Insider Transactions at Datadog

In other news, CTO Alexis Le-Quoc sold 43,224 shares of the business’s stock in a transaction on Wednesday, October 28th. The stock was sold at an average price of $278.90, for a total transaction of $12,055,173.60. Following the completion of the transaction, the chief technology officer owned 488,033 shares of the company’s stock, valued at approximately $136,112,403.70. The trade was a 8.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Kerry Acocella sold 5,280 shares of the business’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $228.85, for a total value of $1,208,328.00. Following the transaction, the general counsel directly owned 115,243 shares of the company’s stock, valued at $26,373,360.55. This trade represents a 4.38% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 631,469 shares of company stock worth $146,891,052. 6.48% of the stock is owned by insiders.

Datadog Company Profile

Datadog, Inc. provides a cloud-based monitoring and security platform that helps organizations observe and manage their technology environments. Its tools collect and analyze data from applications, infrastructure, networks, and other systems to help teams detect issues and improve performance. The company’s products include infrastructure monitoring, application performance monitoring, log management, digital experience monitoring, database and network monitoring, and security tools. Datadog also offers capabilities for incident management and cloud security.