Datadog, Inc. (NASDAQ:DDOG) Stock Position Boosted by Sigma Planning Corp

Sigma Planning Corp boosted its stake in Datadog, Inc. (NASDAQ:DDOG) by 8.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 5,645 shares of the company’s stock after acquiring an additional 460 shares during the quarter. Sigma Planning Corp’s holdings in Datadog were worth $649,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Covestor Ltd grew its position in Datadog by 14.1% in the 3rd quarter. Covestor Ltd now owns 1,091 shares of the company’s stock valued at $126,000 after buying an additional 135 shares in the last quarter. Atria Investments Inc grew its position in Datadog by 9.5% in the 3rd quarter. Atria Investments Inc now owns 4,802 shares of the company’s stock valued at $553,000 after buying an additional 416 shares in the last quarter. Klingman & Associates LLC grew its position in Datadog by 8.3% in the 3rd quarter. Klingman & Associates LLC now owns 164,104 shares of the company’s stock valued at $18,882,000 after buying an additional 12,590 shares in the last quarter. Fiera Capital Corp grew its position in Datadog by 9.6% in the 3rd quarter. Fiera Capital Corp now owns 62,727 shares of the company’s stock valued at $7,217,000 after buying an additional 5,488 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in Datadog in the 3rd quarter valued at about $55,000. Institutional investors own 78.29% of the company’s stock.

Insider Activity at Datadog

In other Datadog news, CFO David M. Obstler sold 33,333 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $125.70, for a total transaction of $4,189,958.10. Following the transaction, the chief financial officer now owns 314,158 shares in the company, valued at $39,489,660.60. This trade represents a 9.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Olivier Pomel sold 85,637 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $122.61, for a total value of $10,499,952.57. Following the transaction, the chief executive officer now owns 392,111 shares in the company, valued at approximately $48,076,729.71. This trade represents a 17.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 320,579 shares of company stock valued at $40,386,541. 11.78% of the stock is currently owned by corporate insiders.

Datadog Stock Performance

Shares of DDOG opened at $131.43 on Friday. The firm has a market cap of $44.31 billion, a PE ratio of 247.98, a PEG ratio of 18.45 and a beta of 1.10. The firm’s 50 day moving average price is $120.42 and its 200 day moving average price is $119.46. Datadog, Inc. has a twelve month low of $98.80 and a twelve month high of $138.61.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on DDOG shares. Robert W. Baird raised their price objective on shares of Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. UBS Group restated an “underperform” rating on shares of Datadog in a research report on Friday, October 18th. Citigroup raised their price objective on shares of Datadog from $150.00 to $157.00 and gave the company a “buy” rating in a research report on Friday, November 8th. 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 report on Friday, November 8th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $151.00 price objective on shares of Datadog in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $150.96.

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.