Cetera Investment Advisers Raises Stake in Datadog, Inc. (NASDAQ:DDOG)

Key Points

• Cetera Investment Advisers increased its stake in Datadog by 28.1%, owning 78,899 shares worth approximately $7.83 million as of its latest SEC filing.
• Datadog reported a 24.6% year-over-year revenue growth in its latest quarter, with earnings per share surpassing analysts' expectations at $0.46.
• Insider transactions indicate significant stock sales by company executives, with a total of 968,861 shares sold in the last 90 days.

Cetera Investment Advisers boosted its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 28.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,899 shares of the company's stock after buying an additional 17,296 shares during the quarter. Cetera Investment Advisers' holdings in Datadog were worth $7,828,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. OVERSEA CHINESE BANKING Corp Ltd increased its position in Datadog by 887.0% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 25,199 shares of the company's stock valued at $25,000 after purchasing an additional 22,646 shares during the period. Cornerstone Planning Group LLC increased its position in Datadog by 96.9% during the 1st quarter. Cornerstone Planning Group LLC now owns 313 shares of the company's stock valued at $30,000 after purchasing an additional 154 shares during the period. Putney Financial Group LLC purchased a new position in Datadog during the 4th quarter valued at about $32,000. Elequin Capital LP purchased a new position in shares of Datadog in the 4th quarter worth approximately $34,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Datadog in the 1st quarter worth approximately $37,000. Institutional investors own 78.29% of the company's stock.

Datadog Trading Down 3.1%

Datadog stock traded down $4.38 during midday trading on Friday, hitting $135.60. 6,063,868 shares of the stock were exchanged, compared to its average volume of 9,555,494. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $170.08. The stock has a market capitalization of $46.83 billion, a price-to-earnings ratio of 294.79, a PEG ratio of 74.57 and a beta of 1.02. The stock's 50-day simple moving average is $133.30 and its 200 day simple moving average is $120.87. 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 - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.04. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The firm had revenue of $761.55 million during the quarter, compared to analysts' expectations of $741.73 million. During the same period last year, the business earned $0.44 earnings per share. Datadog's revenue was up 24.6% compared to the same quarter last year. On average, equities analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current year.

Insider Activity

In related news, CEO Olivier Pomel sold 11,195 shares of the firm's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $150.82, for a total transaction of $1,688,429.90. Following the completion of the sale, the chief executive officer directly owned 548,715 shares of the company's stock, valued at approximately $82,757,196.30. This trade represents a 2.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Alexis Le-Quoc sold 41,468 shares of Datadog stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $139.27, for a total transaction of $5,775,248.36. Following the sale, the chief technology officer owned 452,769 shares of the company's stock, valued at approximately $63,057,138.63. This represents a 8.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 968,861 shares of company stock valued at $119,264,653 in the last quarter. Insiders own 8.70% of the company's stock.

Wall Street Analysts Forecast Growth

DDOG has been the topic of a number of analyst reports. DA Davidson lifted their price objective on shares of Datadog from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Cantor Fitzgerald lifted their price objective on shares of Datadog from $134.00 to $171.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Macquarie cut their price objective on shares of Datadog from $175.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Rosenblatt Securities cut their price objective on shares of Datadog from $160.00 to $150.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Datadog in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $146.79.

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.