Everence Capital Management Inc. Buys Shares of 8,330 Datadog, Inc. (NASDAQ:DDOG)

Everence Capital Management Inc. bought a new position in Datadog, Inc. (NASDAQ:DDOG) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,330 shares of the company’s stock, valued at approximately $1,190,000.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of Datadog by 40.3% in the fourth quarter. GAMMA Investing LLC now owns 790 shares of the company’s stock worth $113,000 after purchasing an additional 227 shares in the last quarter. Peapack Gladstone Financial Corp lifted its position in Datadog by 39.9% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 5,140 shares of the company’s stock worth $591,000 after buying an additional 1,465 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of Datadog by 27.6% during the 3rd quarter. Tidal Investments LLC now owns 28,295 shares of the company’s stock valued at $3,256,000 after buying an additional 6,119 shares during the period. Blankinship & Foster LLC purchased a new position in shares of Datadog during the 3rd quarter valued at $351,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Datadog during the third quarter worth $625,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Insider Activity

In other Datadog news, CEO Olivier Pomel sold 178,723 shares of Datadog stock in a transaction on Monday, December 9th. The shares were sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the sale, the chief executive officer now owns 379,693 shares in the company, valued at $61,236,887.04. The trade was a 32.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Shardul Shah sold 7,916 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $126.67, for a total transaction of $1,002,719.72. Following the completion of the transaction, the director now owns 451,533 shares of the company’s stock, valued at approximately $57,195,685.11. This represents a 1.72 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 747,304 shares of company stock worth $102,834,812. Company insiders own 11.78% of the company’s stock.

Datadog Stock Up 0.8 %

Datadog stock opened at $144.83 on Friday. The business has a 50 day moving average price of $142.87 and a two-hundred day moving average price of $127.12. 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 $49.20 billion, a price-to-earnings ratio of 273.27, a price-to-earnings-growth ratio of 20.27 and a beta of 1.11.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Sanford C. Bernstein lowered their target price on Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. Rosenblatt Securities increased their price objective on Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Loop Capital lifted their target price on shares of Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Royal Bank of Canada increased their price target on shares of Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Scotiabank reduced their price objective on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Datadog currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.74.

Datadog 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.