GLOBALT Investments LLC GA Purchases Shares of 5,053 Datadog, Inc. (NASDAQ:DDOG)

GLOBALT Investments LLC GA acquired a new position in shares of Datadog, Inc. (NASDAQ:DDOG) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 5,053 shares of the company’s stock, valued at approximately $581,000.

Several other large investors have also recently added to or reduced their stakes in DDOG. Kodai Capital Management LP purchased a new position in shares of Datadog in the 1st quarter valued at about $116,054,000. DNB Asset Management AS grew its position in Datadog by 1,974.5% during the second quarter. DNB Asset Management AS now owns 847,600 shares of the company’s stock worth $109,925,000 after buying an additional 806,741 shares during the period. Thrivent Financial for Lutherans increased its holdings in Datadog by 1,597.9% in the second quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company’s stock valued at $101,841,000 after buying an additional 739,011 shares in the last quarter. Bank of Montreal Can lifted 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 during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Datadog by 9.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock worth $511,620,000 after acquiring an additional 331,808 shares in the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on DDOG. DA Davidson raised their price objective on Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Rosenblatt Securities lifted their price target on Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Sanford C. Bernstein decreased their price objective on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. UBS Group restated an “underperform” rating on shares of Datadog in a report on Friday, October 18th. Finally, BNP Paribas started coverage on shares of Datadog in a report on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Datadog presently has an average rating of “Moderate Buy” and an average price target of $150.96.

Datadog Price Performance

Shares of Datadog stock opened at $125.97 on Tuesday. Datadog, Inc. has a 1-year low of $98.80 and a 1-year high of $138.61. The company has a market capitalization of $42.79 billion, a P/E ratio of 237.68, a PEG ratio of 18.85 and a beta of 1.10. The business’s fifty day moving average price is $121.59 and its two-hundred day moving average price is $119.44.

Insider Buying and Selling

In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 392,111 shares of the company’s stock, valued at approximately $48,076,729.71. This represents a 17.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $129.33, for a total transaction of $16,438,489.65. Following the completion of the transaction, the chief technology officer now directly owns 336,165 shares in the company, valued at $43,476,219.45. This represents a 27.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 320,579 shares of company stock valued at $40,386,541 over the last 90 days. 11.78% of the stock is currently owned by company 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.