GAMMA Investing LLC Boosts Stake in Datadog, Inc. (NASDAQ:DDOG)

GAMMA Investing LLC lifted its position in shares of Datadog, Inc. (NASDAQ:DDOGFree Report) by 40.3% during the 4th quarter, HoldingsChannel reports. The fund owned 790 shares of the company’s stock after purchasing an additional 227 shares during the period. GAMMA Investing LLC’s holdings in Datadog were worth $113,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. True Wealth Design LLC boosted its stake in shares of Datadog by 12,000.0% during the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after acquiring an additional 240 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of Datadog by 66.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after purchasing an additional 115 shares during the last quarter. Quarry LP acquired a new position in shares of Datadog during the 3rd quarter worth approximately $33,000. American National Bank & Trust acquired a new position in shares of Datadog during the 3rd quarter worth approximately $39,000. Finally, ORG Wealth Partners LLC acquired a new position in shares of Datadog during the 3rd quarter worth approximately $44,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on DDOG shares. Rosenblatt Securities boosted their target price on Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Royal Bank of Canada lifted their price target on shares of Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. BMO Capital Markets lifted their price target on shares of Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. DA Davidson lifted their price target on shares of Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Robert W. Baird boosted their target price on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.46.

Check Out Our Latest Report on DDOG

Insider Buying and Selling at Datadog

In related news, President Amit Agarwal sold 150,000 shares of the stock in a transaction dated Friday, November 15th. The shares were 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 directly owns 214,275 shares of the company’s stock, valued at $27,005,078.25. This represents a 41.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $129.33, for a total transaction of $16,438,489.65. Following the transaction, the chief technology officer now directly owns 336,165 shares of the company’s stock, valued at $43,476,219.45. This represents a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 592,679 shares of company stock worth $83,508,362 over the last 90 days. Corporate insiders own 11.78% of the company’s stock.

Datadog Trading Down 1.0 %

Shares of DDOG stock opened at $140.42 on Friday. The firm has a fifty day moving average price of $144.83 and a 200 day moving average price of $128.19. The company has a market cap of $47.70 billion, a P/E ratio of 264.95, a PEG ratio of 20.27 and a beta of 1.14. Datadog, Inc. has a 12 month low of $98.80 and a 12 month high of $170.08.

Datadog Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Datadog (NASDAQ:DDOG)

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