Pitcairn Co. Cuts Holdings in Datadog, Inc. (NASDAQ:DDOG)

Pitcairn Co. cut its holdings in Datadog, Inc. (NASDAQ:DDOG) by 8.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,026 shares of the company’s stock after selling 873 shares during the quarter. Pitcairn Co.’s holdings in Datadog were worth $1,039,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Algert Global LLC grew its stake in shares of Datadog by 832.9% during the 3rd quarter. Algert Global LLC now owns 41,299 shares of the company’s stock worth $4,752,000 after purchasing an additional 36,872 shares during the period. Cerity Partners LLC boosted its holdings in Datadog by 33.9% during the third quarter. Cerity Partners LLC now owns 40,752 shares of the company’s stock worth $4,689,000 after buying an additional 10,318 shares in the last quarter. Champlain Investment Partners LLC acquired a new position in Datadog during the third quarter worth about $52,561,000. Eagle Asset Management Inc. increased its holdings in Datadog by 72.4% in the third quarter. Eagle Asset Management Inc. now owns 914,776 shares of the company’s stock valued at $113,844,000 after buying an additional 384,121 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Datadog by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,176,577 shares of the company’s stock worth $135,377,000 after acquiring an additional 29,404 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Insider Transactions at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $129.33, for a total transaction of $16,438,489.65. Following the transaction, the chief technology officer now directly owns 336,165 shares of the company’s stock, valued at approximately $43,476,219.45. The trade was a 27.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Amit Agarwal sold 150,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $126.03, for a total transaction of $18,904,500.00. Following the sale, the president now directly owns 214,275 shares of the company’s stock, valued at approximately $27,005,078.25. The trade was a 41.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 541,491 shares of company stock valued at $68,927,496 over the last 90 days. Corporate insiders own 11.78% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on DDOG shares. Barclays raised their price objective on Datadog from $140.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. 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 price objective on the stock. Scotiabank lowered their price objective on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 8th. 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 research report on Thursday, August 1st. Finally, Rosenblatt Securities increased 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $150.96.

Datadog Stock Performance

NASDAQ DDOG opened at $154.83 on Monday. The firm has a market capitalization of $52.60 billion, a price-to-earnings ratio of 292.14, a PEG ratio of 18.83 and a beta of 1.10. Datadog, Inc. has a one year low of $98.80 and a one year high of $155.42. The company’s 50 day moving average price is $124.21 and its 200 day moving average price is $120.05.

Datadog Company 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.