Larson Financial Group LLC Grows Position in Datadog, Inc. (NASDAQ:DDOG)

Larson Financial Group LLC increased its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 3,718.2% in the third quarter, Holdings Channel.com reports. The firm owned 840 shares of the company’s stock after purchasing an additional 818 shares during the quarter. Larson Financial Group LLC’s holdings in Datadog were worth $97,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. SouthState Corp purchased a new stake in Datadog in the 2nd quarter valued at about $26,000. Meeder Asset Management Inc. lifted its position in shares of Datadog by 66.5% in 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 period. Blue Trust Inc. bought a new position in shares of Datadog during the 2nd quarter worth approximately $37,000. Versant Capital Management Inc raised its stake in shares of Datadog by 216.5% during the 2nd quarter. Versant Capital Management Inc now owns 307 shares of the company’s stock worth $40,000 after acquiring an additional 210 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Datadog by 70.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock worth $39,000 after acquiring an additional 127 shares in the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $129.33, for a total value of $16,438,489.65. Following the completion of the transaction, the chief technology officer now owns 336,165 shares of the company’s stock, valued at approximately $43,476,219.45. This trade represents a 27.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Amit Agarwal sold 150,000 shares of the firm’s stock in a transaction that occurred on 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 approximately $27,005,078.25. The trade was a 41.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 541,491 shares of company stock worth $68,927,496 over the last three months. Insiders own 11.78% of the company’s stock.

Datadog Price Performance

Shares of DDOG opened at $151.96 on Friday. Datadog, Inc. has a 1-year low of $98.80 and a 1-year high of $157.48. The stock has a market cap of $51.62 billion, a PE ratio of 286.72, a P/E/G ratio of 20.50 and a beta of 1.10. The firm has a 50-day simple moving average of $127.47 and a two-hundred day simple moving average of $121.02.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DDOG. Needham & Company LLC cut their price target on shares of Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Royal Bank of Canada reissued an “outperform” rating and set a $151.00 price target on shares of Datadog in a report on Friday, August 9th. DA Davidson increased their price target on shares of Datadog from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Citigroup increased their price objective on shares of Datadog from $150.00 to $157.00 and gave the company a “buy” rating in a report on Friday, November 8th. 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 report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.