KBC Group NV Increases Stock Position in Datadog, Inc. (NASDAQ:DDOG)

KBC Group NV lifted its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 6.1% in the third quarter, HoldingsChannel reports. The firm owned 99,507 shares of the company’s stock after acquiring an additional 5,723 shares during the period. KBC Group NV’s holdings in Datadog were worth $11,449,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of DDOG. SouthState Corp purchased a new position in Datadog in the 2nd quarter valued at about $26,000. Blue Trust Inc. purchased a new position in shares of Datadog during the second quarter valued at approximately $37,000. EverSource Wealth Advisors LLC boosted its position in 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. American National Bank & Trust purchased a new stake in Datadog in the 3rd quarter worth approximately $39,000. Finally, Versant Capital Management Inc raised its holdings in Datadog by 216.5% in the 2nd quarter. Versant Capital Management Inc now owns 307 shares of the company’s stock valued at $40,000 after acquiring an additional 210 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Datadog

In other Datadog news, Director Matthew Jacobson sold 9,256 shares of the stock in a transaction that occurred 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 transaction, the director now owns 48,411 shares of the company’s stock, valued at $5,230,808.55. This trade represents a 16.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Shardul Shah sold 15,832 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $120.02, for a total transaction of $1,900,156.64. Following the sale, the director now directly owns 459,449 shares in the company, valued at $55,143,068.98. This trade represents a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 320,579 shares of company stock valued at $40,386,541. 11.78% of the stock is currently owned by insiders.

Datadog Price Performance

Datadog stock opened at $126.09 on Friday. The firm’s fifty day moving average price is $121.23 and its 200 day moving average price is $119.53. The company has a market capitalization of $42.51 billion, a price-to-earnings ratio of 237.91, a price-to-earnings-growth ratio of 19.20 and a beta of 1.10. Datadog, Inc. has a 12-month low of $98.80 and a 12-month high of $138.61.

Wall Street Analysts Forecast Growth

DDOG has been the topic of several analyst reports. BMO Capital Markets raised their price objective on Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Sanford C. Bernstein lowered their price target on Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Monday, October 21st. BNP Paribas began coverage on shares of Datadog in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $151.00 price target on shares of Datadog in a research report on Friday, August 9th. Finally, TD Cowen lifted their price target on shares of Datadog from $160.00 to $165.00 and gave the company a “buy” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Datadog currently has an average rating of “Moderate Buy” and an average target price of $150.96.

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.