Intech Investment Management LLC Boosts Holdings in Datadog, Inc. (NASDAQ:DDOG)

Intech Investment Management LLC lifted its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 14.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 16,084 shares of the company’s stock after purchasing an additional 2,069 shares during the period. Intech Investment Management LLC’s holdings in Datadog were worth $1,851,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC increased its position in shares of Datadog by 172.2% in the third quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock worth $4,469,000 after acquiring an additional 24,574 shares in the last quarter. Heritage Investors Management Corp bought a new stake in shares of Datadog in the third quarter worth $1,157,000. Jennison Associates LLC raised its stake in shares of Datadog by 2.1% in the 3rd quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock valued at $721,811,000 after purchasing an additional 126,613 shares in the last quarter. Parnassus Investments LLC raised its stake in Datadog by 28.4% during the third quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock valued at $21,324,000 after buying an additional 40,952 shares in the last quarter. Finally, Bank of Montreal Can raised its position in shares of Datadog by 129.2% during the 2nd quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock valued at $79,384,000 after acquiring an additional 344,431 shares in the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, President Amit Agarwal sold 150,000 shares of the business’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 sale, the president now directly owns 214,275 shares in the company, valued at approximately $27,005,078.25. The trade was a 41.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CRO Sean Michael Walters sold 2,322 shares of the stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $125.00, for a total transaction of $290,250.00. Following the completion of the transaction, the executive now owns 183,512 shares of the company’s stock, valued at approximately $22,939,000. This represents a 1.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 541,491 shares of company stock valued at $68,927,496. Insiders own 11.78% of the company’s stock.

Datadog Trading Up 7.6 %

NASDAQ DDOG opened at $154.83 on Monday. The company has a market cap of $52.60 billion, a P/E ratio of 292.14, a P/E/G ratio of 18.83 and a beta of 1.10. The company has a fifty day simple moving average of $124.21 and a 200 day simple moving average of $120.05. Datadog, Inc. has a 1 year low of $98.80 and a 1 year high of $155.42.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Citigroup raised their target price on shares of Datadog from $150.00 to $157.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Needham & Company LLC cut their price target on shares of Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a report on Friday, August 9th. UBS Group reissued an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. BNP Paribas began coverage on shares of Datadog in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 target price on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $151.00 price target on shares of Datadog in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.