SG Americas Securities LLC Reduces Stake in Datadog, Inc.

SG Americas Securities LLC has decreased its ownership in Datadog, Inc. (NASDAQ:DDOG) by 36.3% during the third quarter, as reported in their latest filing with the SEC. Following the sale of 4,193 shares, the firm now holds 7,363 shares of Datadog, valued at approximately $847,000 by the end of the reported period.

Other substantial investors have also made shifts in their positions regarding Datadog. For example, Baader Bank Aktiengesellschaft raised its investment by 1.5% in the second quarter, now owning 5,077 shares worth around $657,000 after adding 77 shares. Similarly, HB Wealth Management LLC increased its stake in the same quarter by 5.2%, bringing its total to 1,926 shares valued at $250,000 after acquiring an additional 95 shares. Ameritas Investment Partners Inc. also reported a 1.2% increase in their holdings during the first quarter, owning now 8,867 shares worth about $1,096,000 after purchasing 103 more shares. Moreover, WR Wealth Planners LLC saw a significant increase of 31.6% in their holdings during the second quarter, climbing to 433 shares with a value of $56,000 after an additional acquisition of 104 shares. Lastly, Parallel Advisors LLC added 3.5% more to their position during the second quarter, amassing 3,076 shares worth about $399,000 with 105 shares bought in the latest quarter. Currently, institutional investors and hedge funds hold approximately 78.29% of Datadog's stock.

Recent Stock Ratings and Analysis

Several research firms have provided updates on Datadog's stock. Scotiabank lowered their target price from $145.00 to $135.00, maintaining a "sector outperform" rating. Needham & Company LLC also reduced their price target to $140.00 from $165.00 while keeping a "buy" recommendation. UBS Group raised their target from $120.00 to $125.00, assigning a "neutral" rating. Additionally, Loop Capital reaffirmed a "buy" rating with a target price of $160.00. On the other hand, Monness Crespi & Hardt upgraded Datadog from a "sell" to a "neutral" rating. In total, four analysts have rated the stock with a hold, while twenty-six others gave it a buy rating, and one analyst rated it as strong buy. According to MarketBeat, the overall consensus rating for Datadog sits at "Moderate Buy", with an average price target set at $141.19.

Current Stock Performance

As of the last trading session, shares of Datadog opened at $129.81. The company has a market capitalization of $43.77 billion, with a price-to-earnings ratio of 288.47 and a price-to-earnings-growth ratio of 22.85, alongside a beta of 1.11. The stock has experienced a 52-week range between a low of $77.81 and a high of $138.61.

Earnings Report Highlights

Datadog released its earnings report on August 8th, revealing earnings per share of $0.43, surpassing analysts' expectations of $0.37 by $0.06. Revenue for the quarter stood at $645.28 million, exceeding the anticipated $624.92 million. Datadog recorded a net margin of 6.81% and a return on equity of 9.01%. Compared to the same quarter a year prior, the company's revenue rose by 26.7%. Analysts are forecasting that Datadog will achieve earnings per share of $0.42 for the current fiscal year.

Insider Transactions

In recent insider news, CFO David M. Obstler sold 33,333 shares of Datadog on October 8th, fetching an average price of $125.70, totaling about $4.19 million. Post-sale, Obstler holds 314,158 shares valued at nearly $39.5 million. Additionally, CRO Sean Michael Walters disposed of 2,322 shares on the same day at an average price of $125.00, translating to $290,250 in total sales. Following this sale, he retains 183,512 shares valued at roughly $22.94 million. In the last three months, insiders have collectively sold 361,574 shares, amounting to $41.29 million, with insiders holding about 11.78% of the company’s shares.

Company Overview

Datadog, Inc. provides a comprehensive platform for observability and security aimed at cloud applications, both in North America and internationally. Its suite of offerings includes infrastructure and application performance monitoring, log management, digital experience monitoring, and a variety of other cloud management tools.

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