Brooklyn Investment Group Takes Position in Datadog, Inc. (NASDAQ:DDOG)

Brooklyn Investment Group bought a new stake in shares of Datadog, Inc. (NASDAQ:DDOG) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 569 shares of the company’s stock, valued at approximately $65,000.

Several other institutional investors also recently made changes to their positions in DDOG. DNB Asset Management AS grew its holdings in shares of Datadog by 1,974.5% during the second quarter. DNB Asset Management AS now owns 847,600 shares of the company’s stock valued at $109,925,000 after purchasing an additional 806,741 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Datadog by 1,597.9% during the second quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company’s stock valued at $101,841,000 after purchasing an additional 739,011 shares during the last quarter. Champlain Investment Partners LLC bought a new position in shares of Datadog during the third quarter valued at approximately $52,561,000. Eagle Asset Management Inc. grew its holdings in shares of Datadog by 72.4% during the third quarter. Eagle Asset Management Inc. now owns 914,776 shares of the company’s stock valued at $113,844,000 after purchasing an additional 384,121 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings 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 purchasing an additional 344,431 shares during the last quarter. 78.29% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Datadog news, CRO Sean Michael Walters sold 2,322 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $125.00, for a total transaction of $290,250.00. Following the transaction, the executive now directly owns 183,512 shares in the company, valued at $22,939,000. This trade represents a 1.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $129.33, for a total value of $16,438,489.65. Following the transaction, the chief technology officer now owns 336,165 shares in the company, valued at approximately $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.

Wall Street Analyst Weigh In

Several research firms have recently commented on DDOG. Rosenblatt Securities upped their target price on Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a report on Friday, November 8th. TD Cowen reiterated a “buy” rating and set a $165.00 price objective on shares of Datadog in a research report on Tuesday, November 19th. BMO Capital Markets boosted their price objective on Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. UBS Group reiterated an “underperform” rating on shares of Datadog in a research report on Friday, October 18th. Finally, Robert W. Baird boosted their price objective on Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $150.96.

Datadog Trading Down 1.6 %

Shares of NASDAQ:DDOG opened at $151.96 on Friday. Datadog, Inc. has a 1 year low of $98.80 and a 1 year high of $157.48. The business has a fifty day simple moving average of $127.47 and a 200 day simple moving average of $121.02. The firm has a market cap of $51.62 billion, a price-to-earnings ratio of 286.72, a P/E/G ratio of 20.50 and a beta of 1.10.

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.