Cresset Asset Management LLC Acquires 3,862 Shares of Datadog, Inc. $DDOG

Key Points

• Cresset Asset Management LLC increased its stake in Datadog, Inc. by 17.4% in Q1, now holding 26,060 shares valued at approximately $2.59 million.
• Wall Street analysts have raised their ratings on Datadog, with Wolfe Research upgrading it to "outperform" and setting a target price of $150.00.
• Datadog reported Q2 earnings that exceeded expectations, with an EPS of $0.46 and revenue of $826.76 million, marking a 28.1% year-over-year increase.

Cresset Asset Management LLC grew its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 17.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,060 shares of the company's stock after purchasing an additional 3,862 shares during the period. Cresset Asset Management LLC's holdings in Datadog were worth $2,585,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in DDOG. Emerald Advisers LLC grew its position in shares of Datadog by 1.1% during the 1st quarter. Emerald Advisers LLC now owns 9,300 shares of the company's stock valued at $923,000 after acquiring an additional 97 shares during the period. YANKCOM Partnership grew its position in shares of Datadog by 12.0% during the 1st quarter. YANKCOM Partnership now owns 927 shares of the company's stock valued at $92,000 after acquiring an additional 99 shares during the period. Covestor Ltd grew its position in shares of Datadog by 8.9% during the 1st quarter. Covestor Ltd now owns 1,388 shares of the company's stock valued at $138,000 after acquiring an additional 113 shares during the period. State of Wyoming grew its position in shares of Datadog by 3.7% during the 4th quarter. State of Wyoming now owns 3,277 shares of the company's stock valued at $468,000 after acquiring an additional 117 shares during the period. Finally, Forum Financial Management LP grew its position in shares of Datadog by 6.1% during the 1st quarter. Forum Financial Management LP now owns 2,040 shares of the company's stock valued at $202,000 after acquiring an additional 118 shares during the period. Institutional investors and hedge funds own 78.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Bank of America increased their target price on shares of Datadog from $150.00 to $175.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Macquarie reduced their target price on shares of Datadog from $175.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Scotiabank reissued an "outperform" rating on shares of Datadog in a research report on Friday, August 8th. Stifel Nicolaus upped their price target on shares of Datadog from $120.00 to $135.00 and gave the company a "hold" rating in a research note on Thursday, June 26th. Finally, Wells Fargo & Company dropped their price target on shares of Datadog from $140.00 to $115.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. Twenty-four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $153.10.

Insiders Place Their Bets

In other news, CEO Olivier Pomel sold 32,923 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $130.38, for a total value of $4,292,500.74. Following the transaction, the chief executive officer owned 548,715 shares of the company's stock, valued at $71,541,461.70. This represents a 5.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Shardul Shah sold 7,924 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $140.80, for a total transaction of $1,115,699.20. Following the completion of the transaction, the director directly owned 380,281 shares in the company, valued at $53,543,564.80. The trade was a 2.04% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 846,051 shares of company stock worth $107,936,283. Company insiders own 8.70% of the company's stock.

Datadog Price Performance

NASDAQ DDOG traded up $2.07 on Friday, hitting $131.22. The stock had a trading volume of 3,826,266 shares, compared to its average volume of 6,020,662. Datadog, Inc. has a 52-week low of $81.63 and a 52-week high of $170.08. The company has a debt-to-equity ratio of 0.31, a quick ratio of 3.43 and a current ratio of 3.43. The company has a market capitalization of $45.76 billion, a price-to-earnings ratio of 374.92, a price-to-earnings-growth ratio of 53.27 and a beta of 1.02. The firm has a 50-day moving average of $136.83 and a 200-day moving average of $119.85.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.05. Datadog had a net margin of 4.13% and a return on equity of 5.04%. The business had revenue of $826.76 million for the quarter, compared to analysts' expectations of $791.72 million. During the same period in the prior year, the company posted $0.43 EPS. The business's revenue for the quarter was up 28.1% compared to the same quarter last year. Datadog has set its Q3 2025 guidance at 0.440-0.460 EPS. FY 2025 guidance at 1.800-1.830 EPS. Equities analysts expect that Datadog, Inc. will post 0.34 EPS for the current 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.