Nordea Investment Management AB Increases Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Nordea Investment Management AB grew its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 21.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,256 shares of the company’s stock after purchasing an additional 10,199 shares during the period. Nordea Investment Management AB’s holdings in Datadog were worth $8,376,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Los Angeles Capital Management LLC boosted its position in Datadog by 172.2% during the third 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 during the period. Heritage Investors Management Corp purchased a new position in shares of Datadog during the third quarter valued at approximately $1,157,000. Atom Investors LP bought a new position in Datadog in the 3rd quarter worth $1,112,000. Jennison Associates LLC raised its stake in Datadog by 2.1% in the third quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock worth $721,811,000 after buying an additional 126,613 shares in the last quarter. Finally, Parnassus Investments LLC raised its position in shares of Datadog by 28.4% in the 3rd quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock worth $21,324,000 after acquiring an additional 40,952 shares in the last quarter. Institutional investors own 78.29% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on DDOG. Scotiabank dropped their price objective on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 8th. Macquarie assumed coverage on Datadog in a research note on Thursday, December 12th. They issued an “outperform” rating and a $200.00 price target on the stock. Citigroup boosted their target price on Datadog from $150.00 to $157.00 and gave the stock a “buy” rating in a report on Friday, November 8th. TD Cowen reaffirmed a “buy” rating and issued a $165.00 price target on shares of Datadog in a research report on Tuesday, November 19th. Finally, Monness Crespi & Hardt raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, two have issued 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.com, Datadog has a consensus rating of “Moderate Buy” and a consensus price target of $157.46.

Datadog Stock Performance

NASDAQ:DDOG opened at $141.88 on Friday. The stock has a 50-day simple moving average of $144.49 and a two-hundred day simple moving average of $128.04. The firm has a market capitalization of $48.20 billion, a PE ratio of 267.70, a P/E/G ratio of 20.27 and a beta of 1.14. Datadog, Inc. has a 52-week low of $98.80 and a 52-week high of $170.08.

Insider Activity at Datadog

In other Datadog news, President Amit Agarwal sold 150,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $126.03, for a total transaction of $18,904,500.00. Following the completion of the transaction, the president now owns 214,275 shares in the company, valued at $27,005,078.25. This trade represents a 41.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Olivier Pomel sold 178,723 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the completion of the sale, the chief executive officer now owns 379,693 shares in the company, valued at $61,236,887.04. This represents a 32.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 592,679 shares of company stock worth $83,508,362. 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.