Rockefeller Capital Management L.P. Purchases 511 Shares of Datadog, Inc. (NASDAQ:DDOG)

Rockefeller Capital Management L.P. raised its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 3.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,172 shares of the company’s stock after buying an additional 511 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Datadog were worth $1,746,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

DDOG has been the subject of several recent analyst reports. TD Cowen reissued a “buy” rating and set a $165.00 price objective on shares of Datadog in a report on Tuesday, November 19th. Scotiabank cut their price objective on Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. Wedbush raised Datadog from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. BNP Paribas initiated coverage on Datadog in a report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price objective for the company. Finally, Citigroup boosted their price objective on Datadog from $150.00 to $157.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $152.19.

Insider Buying and Selling at Datadog

In related news, President Amit Agarwal sold 150,000 shares of Datadog 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 owns 214,275 shares of the company’s stock, valued at approximately $27,005,078.25. This trade represents a 41.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Kerry Acocella sold 2,488 shares of Datadog stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $158.04, for a total value of $393,203.52. Following the sale, the general counsel now directly owns 68,758 shares in the company, valued at $10,866,514.32. This trade represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 543,979 shares of company stock valued at $69,320,699. 11.78% of the stock is owned by company insiders.

Datadog Stock Up 3.2 %

Shares of Datadog stock opened at $168.65 on Friday. Datadog, Inc. has a 52 week low of $98.80 and a 52 week high of $170.08. The business has a 50 day moving average of $132.79 and a 200 day moving average of $122.71. The company has a market cap of $57.29 billion, a PE ratio of 318.21, a P/E/G ratio of 21.49 and a beta of 1.11.

Datadog 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.