Datadog, Inc. (NASDAQ:DDOG) Shares Sold by Cinctive Capital Management LP

Cinctive Capital Management LP reduced its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 20.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,095 shares of the company’s stock after selling 15,957 shares during the period. Cinctive Capital Management LP’s holdings in Datadog were worth $7,260,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. SouthState Corp acquired a new stake in Datadog during the 2nd quarter worth about $26,000. True Wealth Design LLC increased its holdings in Datadog by 12,000.0% in the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after buying an additional 240 shares during the period. Meeder Asset Management Inc. increased its holdings in Datadog by 66.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after buying an additional 115 shares during the period. Blue Trust Inc. acquired a new stake in Datadog during the 2nd quarter valued at approximately $37,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Datadog by 70.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock valued at $39,000 after acquiring an additional 127 shares during the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Datadog

In related news, Director Matthew Jacobson sold 9,256 shares of Datadog 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 in the company, valued at approximately $5,230,808.55. This trade represents a 16.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CRO Sean Michael Walters sold 2,322 shares of the business’s stock in a transaction 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 directly owns 183,512 shares in the company, valued at $22,939,000. This trade represents a 1.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 541,491 shares of company stock worth $68,927,496 in the last ninety days. Insiders own 11.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Rosenblatt Securities boosted their target price 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. UBS Group restated an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. Citigroup raised their target price on Datadog from $150.00 to $157.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Royal Bank of Canada restated an “outperform” rating and issued a $151.00 price objective on shares of Datadog in a research report on Friday, August 9th. Finally, TD Cowen reaffirmed a “buy” rating and set a $165.00 target price on shares of Datadog in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $150.96.

Datadog Trading Up 0.5 %

DDOG opened at $152.75 on Monday. The firm has a market capitalization of $51.89 billion, a PE ratio of 288.21, a PEG ratio of 19.99 and a beta of 1.10. Datadog, Inc. has a twelve month low of $98.80 and a twelve month high of $157.48. The firm’s 50-day moving average price is $128.23 and its 200 day moving average price is $121.31.

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.