Massachusetts Financial Services Co. MA Has $443.08 Million Holdings in Datadog, Inc. (NASDAQ:DDOG)

Massachusetts Financial Services Co. MA lowered its position in Datadog, Inc. (NASDAQ:DDOG) by 2.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 3,850,850 shares of the company’s stock after selling 94,093 shares during the period. Massachusetts Financial Services Co. MA owned 1.14% of Datadog worth $443,079,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of DDOG. Los Angeles Capital Management LLC lifted its holdings in Datadog by 172.2% during 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 during the period. Heritage Investors Management Corp purchased a new stake in Datadog in the third quarter valued at approximately $1,157,000. Parnassus Investments LLC increased its stake in Datadog by 28.4% in the third quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock valued at $21,324,000 after acquiring an additional 40,952 shares during the last quarter. Jennison Associates LLC raised its stake 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 acquiring an additional 126,613 shares in the last quarter. Finally, Bank of Montreal Can grew its stake 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 valued at $79,384,000 after buying an additional 344,431 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO David M. Obstler sold 33,333 shares of Datadog stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $130.39, for a total value of $4,346,289.87. Following the sale, the chief financial officer now directly owns 314,158 shares in the company, valued at $40,963,061.62. This trade represents a 9.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Amit Agarwal sold 150,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $126.03, for a total value of $18,904,500.00. Following the transaction, the president now directly owns 214,275 shares of the company’s stock, valued at $27,005,078.25. This trade represents a 41.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 470,579 shares of company stock valued at $59,291,041. 11.78% of the stock is currently owned by corporate insiders.

Datadog Trading Up 6.2 %

DDOG opened at $143.92 on Friday. The stock’s 50 day simple moving average is $123.30 and its 200-day simple moving average is $119.78. The stock has a market cap of $48.89 billion, a PE ratio of 271.54, a P/E/G ratio of 17.46 and a beta of 1.10. Datadog, Inc. has a 1 year low of $98.80 and a 1 year high of $145.55.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. BTIG Research upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 target price for the company in a report on Thursday, August 1st. TD Cowen restated a “buy” rating and set a $165.00 price objective on shares of Datadog in a research report on Tuesday. Rosenblatt Securities upped their price target on shares of Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, November 8th. DA Davidson raised their price objective on Datadog from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, UBS Group reiterated an “underperform” rating on shares of Datadog in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $150.96.

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.