Huntington National Bank Acquires 579 Shares of Datadog, Inc. (NASDAQ:DDOG)

Huntington National Bank grew its stake in Datadog, Inc. (NASDAQ:DDOG) by 62.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,500 shares of the company’s stock after purchasing an additional 579 shares during the period. Huntington National Bank’s holdings in Datadog were worth $173,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of DDOG. Los Angeles Capital Management LLC boosted its stake in Datadog by 172.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock valued at $4,469,000 after buying an additional 24,574 shares in the last quarter. Heritage Investors Management Corp bought a new position in shares of Datadog during the third quarter valued at $1,157,000. Bank of Montreal Can grew its holdings in shares of Datadog by 129.2% in the 2nd quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock worth $79,384,000 after purchasing an additional 344,431 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Datadog by 23.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,933 shares of the company’s stock worth $19,635,000 after purchasing an additional 32,217 shares during the last quarter. Finally, Future Fund LLC acquired a new stake in shares of Datadog during the 3rd quarter worth about $1,141,000. 78.29% of the stock is owned by institutional investors and hedge funds.

Datadog Trading Down 4.1 %

Shares of DDOG opened at $126.09 on Monday. The stock has a market cap of $42.84 billion, a P/E ratio of 237.91, a price-to-earnings-growth ratio of 18.85 and a beta of 1.10. Datadog, Inc. has a 1 year low of $98.80 and a 1 year high of $138.61. The stock’s 50-day moving average price is $121.23 and its two-hundred day moving average price is $119.44.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DDOG. Scotiabank reduced their price target on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. BTIG Research raised Datadog from a “neutral” rating to a “buy” rating and set a $143.00 target price on the stock in a report on Thursday, August 1st. Sanford C. Bernstein cut their price objective on Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. TD Cowen boosted their price objective on Datadog from $160.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, DA Davidson lifted their price target on Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Datadog presently has an average rating of “Moderate Buy” and a consensus target price of $150.96.

Insider Activity at Datadog

In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $122.61, for a total value of $10,499,952.57. Following the completion of the sale, the chief executive officer now directly owns 392,111 shares in the company, valued at $48,076,729.71. This represents a 17.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $129.33, for a total value of $16,438,489.65. Following the sale, the chief technology officer now directly owns 336,165 shares in the company, valued at approximately $43,476,219.45. This represents a 27.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 320,579 shares of company stock worth $40,386,541 in the last ninety days. Company insiders own 11.78% of the company’s stock.

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.