RFG Advisory LLC bought a new stake in shares of Datadog, Inc. (NASDAQ:DDOG – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,039 shares of the company’s stock, valued at approximately $291,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Jennison Associates LLC increased its holdings in Datadog by 2.1% during the 3rd quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock worth $721,811,000 after acquiring an additional 126,613 shares during the period. Geode Capital Management LLC increased its holdings in shares of Datadog by 2.5% in the third quarter. Geode Capital Management LLC now owns 5,185,557 shares of the company’s stock worth $595,438,000 after purchasing an additional 125,457 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Datadog by 2.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,024,926 shares of the company’s stock worth $232,988,000 after buying an additional 46,746 shares in the last quarter. Holocene Advisors LP boosted its stake in Datadog by 205.2% during the third quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock valued at $187,878,000 after buying an additional 1,097,815 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Datadog by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,176,577 shares of the company’s stock worth $135,377,000 after buying an additional 29,404 shares in the last quarter. 78.29% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
DDOG has been the subject of a number of research analyst reports. UBS Group reiterated an “underperform” rating on shares of Datadog in a research report on Friday, October 18th. Stifel Nicolaus boosted their price target on shares of Datadog from $141.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. BNP Paribas assumed coverage on shares of Datadog in a research report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price objective on the stock. Monness Crespi & Hardt upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a research report on Thursday, November 7th. Finally, Morgan Stanley restated an “equal weight” rating and set a $143.00 price target on shares of Datadog in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $158.45.
Datadog Trading Up 6.8 %
Shares of NASDAQ DDOG opened at $151.89 on Wednesday. The firm has a fifty day simple moving average of $147.68 and a two-hundred day simple moving average of $129.02. Datadog, Inc. has a 12 month low of $98.80 and a 12 month high of $170.08. The firm has a market capitalization of $51.60 billion, a PE ratio of 286.59, a price-to-earnings-growth ratio of 16.28 and a beta of 1.14.
Insider Activity at Datadog
In related news, Director Matthew Jacobson sold 3,393 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $125.03, for a total value of $424,226.79. Following the sale, the director now directly owns 695,086 shares of the company’s stock, valued at $86,906,602.58. This represents a 0.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total value of $17,948,497.05. Following the completion of the transaction, the chief technology officer now owns 324,778 shares of the company’s stock, valued at approximately $45,861,901.38. This trade represents a 28.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 642,679 shares of company stock worth $92,155,421 over the last 90 days. 11.78% of the stock is owned by company insiders.
About Datadog
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.
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