Cerity Partners LLC Boosts Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Cerity Partners LLC grew its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 128.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 90,736 shares of the company’s stock after acquiring an additional 51,032 shares during the period. Cerity Partners LLC’s holdings in Datadog were worth $9,002,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Cornerstone Planning Group LLC lifted its position in shares of Datadog by 96.9% during the first quarter. Cornerstone Planning Group LLC now owns 313 shares of the company’s stock worth $30,000 after acquiring an additional 154 shares in the last quarter. Putney Financial Group LLC purchased a new stake in shares of Datadog during the fourth quarter worth $32,000. Elequin Capital LP purchased a new stake in shares of Datadog during the fourth quarter worth $34,000. Opal Wealth Advisors LLC purchased a new stake in shares of Datadog during the first quarter worth $37,000. Finally, Center for Financial Planning Inc. increased its holdings in shares of Datadog by 1,189.7% in the first quarter. Center for Financial Planning Inc. now owns 374 shares of the company’s stock worth $37,000 after purchasing an additional 345 shares during the period. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Stock Up 1.0%

Shares of NASDAQ:DDOG opened at $138.80 on Tuesday. The stock’s 50-day moving average price is $124.63 and its 200-day moving average price is $120.48. Datadog, Inc. has a 12-month low of $81.63 and a 12-month high of $170.08. The stock has a market capitalization of $47.93 billion, a P/E ratio of 301.75, a price-to-earnings-growth ratio of 75.99 and a beta of 1.03. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.34.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. The firm had revenue of $761.55 million for the quarter, compared to analysts’ expectations of $741.73 million. Datadog had a return on equity of 6.39% and a net margin of 5.85%. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period last year, the firm earned $0.44 earnings per share. On average, equities analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

DDOG has been the topic of several research analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $119.00 price target on shares of Datadog in a report on Wednesday, May 7th. UBS Group upped their price target on shares of Datadog from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, June 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $134.00 price target on shares of Datadog in a report on Wednesday, May 7th. Rosenblatt Securities decreased their price target on shares of Datadog from $160.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, May 5th. Finally, BTIG Research set a $136.00 price target on shares of Datadog and gave the stock a “buy” rating in a report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, Datadog presently has a consensus rating of “Moderate Buy” and an average target price of $144.27.

Insider Buying and Selling

In related news, CRO Sean Michael Walters sold 9,469 shares of the firm’s stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $150.00, for a total value of $1,420,350.00. Following the sale, the executive directly owned 212,324 shares of the company’s stock, valued at $31,848,600. This trade represents a 4.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Olivier Pomel sold 32,924 shares of the firm’s stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $146.05, for a total value of $4,808,550.20. Following the completion of the sale, the chief executive officer directly owned 548,715 shares in the company, valued at $80,139,825.75. The trade was a 5.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 866,806 shares of company stock valued at $104,910,027 over the last ninety days. Corporate insiders own 8.70% 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.