Orion Portfolio Solutions LLC Grows Position in Datadog, Inc. (NASDAQ:DDOG)

Orion Portfolio Solutions LLC boosted its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 11.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,974 shares of the company’s stock after buying an additional 726 shares during the period. Orion Portfolio Solutions LLC’s holdings in Datadog were worth $802,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new stake in Datadog in the 3rd quarter valued at $1,553,000. Zacks Investment Management increased its stake in Datadog by 180.8% in the third quarter. Zacks Investment Management now owns 191,071 shares of the company’s stock valued at $21,985,000 after purchasing an additional 123,030 shares during the period. EP Wealth Advisors LLC purchased a new stake in shares of Datadog in the third quarter valued at about $323,000. Soros Fund Management LLC boosted its stake in shares of Datadog by 24.2% during the third quarter. Soros Fund Management LLC now owns 168,090 shares of the company’s stock worth $19,340,000 after buying an additional 32,700 shares during the period. Finally, Stansberry Asset Management LLC boosted its stake in shares of Datadog by 3.4% during the third quarter. Stansberry Asset Management LLC now owns 40,174 shares of the company’s stock worth $4,622,000 after buying an additional 1,329 shares during the period. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Price Performance

DDOG stock opened at $155.82 on Tuesday. The company’s 50 day simple moving average is $137.39 and its 200-day simple moving average is $124.17. 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 $52.94 billion, a PE ratio of 294.00, a P/E/G ratio of 20.27 and a beta of 1.11.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Macquarie assumed coverage on Datadog in a research note on Thursday, December 12th. They set an “outperform” rating and a $200.00 price objective for the company. Monness Crespi & Hardt raised Datadog from a “neutral” rating to a “buy” rating and set a $155.00 target price on the stock in a report on Thursday, November 7th. Rosenblatt Securities increased their price target on Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, November 8th. UBS Group reissued an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. Finally, Wedbush upgraded shares of Datadog from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $155.07.

Insider Activity at Datadog

In related news, General Counsel Kerry Acocella sold 2,488 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $158.04, for a total value of $393,203.52. Following the completion of the transaction, the general counsel now owns 68,758 shares of the company’s stock, valued at approximately $10,866,514.32. The trade was a 3.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Olivier Pomel sold 178,723 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the completion of the transaction, the chief executive officer now owns 379,693 shares in the company, valued at approximately $61,236,887.04. This trade represents a 32.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 713,446 shares of company stock valued at $97,145,034. 11.78% of the stock is owned by corporate 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.