Datadog, Inc. (NASDAQ:DDOG) Shares Sold by Adero Partners LLC

Adero Partners LLC cut its stake in Datadog, Inc. (NASDAQ:DDOG) by 5.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 237,532 shares of the company’s stock after selling 13,040 shares during the period. Datadog accounts for 1.8% of Adero Partners LLC’s portfolio, making the stock its 14th largest position. Adero Partners LLC’s holdings in Datadog were worth $27,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in DDOG. SouthState Corp acquired a new stake in shares of Datadog during the second quarter worth $26,000. Blue Trust Inc. acquired a new stake in shares of Datadog during the second quarter worth $37,000. Versant Capital Management Inc raised its holdings in shares of Datadog by 216.5% during the second quarter. Versant Capital Management Inc now owns 307 shares of the company’s stock worth $40,000 after purchasing an additional 210 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Datadog by 70.2% during the first quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock worth $39,000 after acquiring an additional 127 shares during the last quarter. Finally, ORG Partners LLC bought a new position in shares of Datadog during the second quarter worth about $43,000. 78.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. UBS Group reiterated an “underperform” rating on shares of Datadog in a research report on Friday, October 18th. Robert W. Baird increased their target price on shares of Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Rosenblatt Securities raised their price objective 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. Cantor Fitzgerald restated an “overweight” rating and set a $150.00 price objective on shares of Datadog in a research report on Monday, July 22nd. Finally, BMO Capital Markets upped their price objective on shares of Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. One equities research 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Datadog currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.96.

Datadog Stock Down 4.1 %

Shares of DDOG stock opened at $126.09 on Friday. Datadog, Inc. has a 12 month low of $98.80 and a 12 month high of $138.61. The business’s 50 day moving average is $121.23 and its two-hundred day moving average is $119.48. The company has a market cap of $42.84 billion, a PE ratio of 237.91, a price-to-earnings-growth ratio of 18.85 and a beta of 1.10.

Insider Buying and Selling at Datadog

In other news, Director Shardul Shah sold 15,832 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $120.02, for a total value of $1,900,156.64. Following the sale, the director now owns 459,449 shares in the company, valued at approximately $55,143,068.98. This trade represents a 3.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Matthew Jacobson sold 9,256 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the completion of the sale, the director now owns 48,411 shares in the company, valued at approximately $5,230,808.55. The trade was a 16.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 320,579 shares of company stock worth $40,386,541 over the last 90 days. Insiders own 11.78% of the company’s stock.

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.