Datadog, Inc. (NASDAQ:DDOG) Position Boosted by Quantbot Technologies LP

Quantbot Technologies LP raised its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 106.4% during the 3rd quarter, Holdings Channel reports. The fund owned 71,929 shares of the company’s stock after purchasing an additional 37,084 shares during the period. Quantbot Technologies LP’s holdings in Datadog were worth $8,276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in DDOG. SouthState Corp acquired a new position in shares of Datadog during the second quarter valued at approximately $26,000. Meeder Asset Management Inc. increased its position in shares of Datadog by 66.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after purchasing an additional 115 shares during the period. Blue Trust Inc. acquired a new position in shares of Datadog during the 2nd quarter valued at $37,000. EverSource Wealth Advisors LLC raised its stake in shares of Datadog by 70.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock worth $39,000 after buying an additional 127 shares in the last quarter. Finally, American National Bank & Trust acquired a new stake in shares of Datadog in the third quarter valued at $39,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Stock Up 1.2 %

Shares of NASDAQ:DDOG opened at $156.63 on Tuesday. The firm has a fifty day moving average of $125.12 and a two-hundred day moving average of $120.34. Datadog, Inc. has a 12-month low of $98.80 and a 12-month high of $157.15. The firm has a market capitalization of $53.21 billion, a P/E ratio of 295.53, a price-to-earnings-growth ratio of 20.27 and a beta of 1.10.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on DDOG shares. UBS Group reiterated an “underperform” rating on shares of Datadog in a research report on Friday, October 18th. Needham & Company LLC dropped their target price on shares of Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Sanford C. Bernstein reduced their target price on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Monday, October 21st. BTIG Research raised Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price target on the stock in a report on Thursday, August 1st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $151.00 price objective on shares of Datadog in a research report on Friday, August 9th. One 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 assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $150.96.

Insider Buying and Selling

In related news, CRO Sean Michael Walters sold 2,322 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $125.00, for a total value of $290,250.00. Following the transaction, the executive now owns 183,512 shares in the company, valued at approximately $22,939,000. This represents a 1.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred 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 completion of the sale, the chief technology officer now owns 336,165 shares of the company’s stock, valued at $43,476,219.45. This trade represents a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 541,491 shares of company stock worth $68,927,496. Corporate insiders own 11.78% of the company’s stock.

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.