Highview Capital Management LLC DE Acquires New Position in Datadog, Inc. (NASDAQ:DDOG)

Highview Capital Management LLC DE bought a new position in Datadog, Inc. (NASDAQ:DDOG) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 8,371 shares of the company’s stock, valued at approximately $963,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Deltec Asset Management LLC bought a new position in shares of Datadog during the 3rd quarter valued at $920,000. abrdn plc lifted its stake in shares of Datadog by 103.9% in the 3rd quarter. abrdn plc now owns 61,384 shares of the company’s stock valued at $7,063,000 after acquiring an additional 31,276 shares during the last quarter. Pallas Capital Advisors LLC bought a new stake in Datadog in the third quarter valued at approximately $278,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Datadog by 8.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,746 shares of the company’s stock worth $1,352,000 after buying an additional 886 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Datadog by 23.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,933 shares of the company’s stock valued at $19,635,000 after buying an additional 32,217 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors.

Insider Activity at Datadog

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on DDOG shares. Needham & Company LLC lowered their price objective on shares of Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $150.00 price target on shares of Datadog in a research note on Monday, July 22nd. Mizuho raised shares of Datadog from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $135.00 to $155.00 in a research report on Tuesday, July 16th. BMO Capital Markets upped their price objective on shares of Datadog from $132.00 to $135.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, UBS Group reaffirmed an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $142.54.

Datadog Trading Up 1.9 %

Shares of DDOG opened at $128.76 on Wednesday. The firm has a market cap of $43.41 billion, a PE ratio of 286.13, a P/E/G ratio of 22.85 and a beta of 1.11. Datadog, Inc. has a 1-year low of $77.81 and a 1-year high of $138.61. The firm has a fifty day simple moving average of $118.03 and a two-hundred day simple moving average of $119.39.

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

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.