Concorde Asset Management LLC purchased a new position in Datadog, Inc. (NASDAQ:DDOG) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 10,055 shares of the company’s stock, valued at approximately $1,027,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Engrave Wealth Partners LLC grew its holdings in Datadog by 209.0% during the 2nd quarter. Engrave Wealth Partners LLC now owns 309 shares of the company’s stock valued at $26,000 after buying an additional 209 shares during the last quarter. Glassman Wealth Services grew its holdings in Datadog by 74.5% during the 2nd quarter. Glassman Wealth Services now owns 349 shares of the company’s stock valued at $30,000 after buying an additional 149 shares during the last quarter. Harbor Investment Advisory LLC acquired a new stake in Datadog during the 2nd quarter valued at $33,000. Nisa Investment Advisors LLC acquired a new stake in Datadog during the 3rd quarter valued at $41,000. Finally, Captrust Financial Advisors acquired a new stake in Datadog during the 2nd quarter valued at $36,000. Institutional investors and hedge funds own 42.13% of the company’s stock.
Shares of DDOG traded down $3.05 during trading hours on Monday, hitting $99.03. The stock had a trading volume of 71,617 shares, compared to its average volume of 4,384,025. The company has a debt-to-equity ratio of 0.61, a quick ratio of 6.74 and a current ratio of 6.74. The firm has a market cap of $30.96 billion and a P/E ratio of -5,104.00. The company’s fifty day simple moving average is $95.77 and its 200 day simple moving average is $78.32. Datadog, Inc. has a 12-month low of $28.88 and a 12-month high of $118.13.
A number of equities research analysts have commented on the company. BidaskClub cut Datadog from a “strong-buy” rating to a “buy” rating in a report on Friday. FBN Securities assumed coverage on Datadog in a report on Friday, July 10th. They set an “outperform” rating and a $115.00 target price on the stock. Barclays increased their target price on Datadog from $126.00 to $136.00 and gave the company an “overweight” rating in a report on Friday. They noted that the move was a valuation call. DA Davidson increased their price target on Datadog from $52.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Finally, Needham & Company LLC increased their price target on Datadog from $105.00 to $106.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $95.82.
In other Datadog news, CFO David M. Obstler sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $77.03, for a total value of $2,696,050.00. Following the transaction, the chief financial officer now directly owns 267,378 shares of the company’s stock, valued at $20,596,127.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ventures Vi (Jersey) Lp Index sold 50,483 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $83.13, for a total value of $4,196,651.79. The disclosure for this sale can be found here. Insiders sold 1,572,634 shares of company stock worth $153,494,323 over the last three months. 26.06% of the stock is currently owned by corporate insiders.
Datadog Company Profile
Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. The company's SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, and log management to provide real-time observability of customers technology stack.
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