Datadog, Inc. (NASDAQ:DDOG) Stock Holdings Lessened by HighTower Advisors LLC

HighTower Advisors LLC cut its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 0.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,675 shares of the company’s stock after selling 281 shares during the period. HighTower Advisors LLC’s holdings in Datadog were worth $4,542,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in DDOG. SouthState Corp purchased a new position in shares of Datadog during the 2nd quarter valued at $26,000. True Wealth Design LLC boosted its position in Datadog by 12,000.0% during the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after purchasing an additional 240 shares during the last quarter. Meeder Asset Management Inc. grew its stake in Datadog by 66.5% in the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after purchasing an additional 115 shares in the last quarter. Blue Trust Inc. acquired a new position in Datadog in the 2nd quarter worth about $37,000. Finally, American National Bank & Trust purchased a new stake in shares of Datadog during the 3rd quarter worth about $39,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Stock Down 3.9 %

Datadog stock opened at $154.91 on Wednesday. Datadog, Inc. has a 12 month low of $98.80 and a 12 month high of $170.08. The stock has a market cap of $52.63 billion, a price-to-earnings ratio of 292.28, a price-to-earnings-growth ratio of 21.85 and a beta of 1.11. The business has a 50 day moving average price of $133.71 and a two-hundred day moving average price of $122.99.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Robert W. Baird boosted their price target on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Citigroup boosted their target price on shares of Datadog from $150.00 to $157.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Rosenblatt Securities increased their price target on shares of Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. TD Cowen reaffirmed a “buy” rating and issued a $165.00 price objective on shares of Datadog in a research note on Tuesday, November 19th. Finally, UBS Group reissued an “underperform” rating on shares of Datadog in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $152.19.

Insider Activity at Datadog

In other news, Director Shardul Shah sold 15,832 shares of the stock in a transaction on Friday, October 4th. The shares were sold at an average price of $120.02, for a total value of $1,900,156.64. Following the completion of the transaction, the director now owns 459,449 shares in the company, valued at approximately $55,143,068.98. This represents a 3.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Kerry Acocella sold 2,488 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $158.04, for a total transaction of $393,203.52. Following the transaction, the general counsel now directly owns 68,758 shares of the company’s stock, valued at $10,866,514.32. The trade was a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 534,723 shares of company stock worth $68,320,589. 11.78% of the stock is owned by corporate insiders.

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.