Polar Asset Management Partners Inc. Acquires 42,600 Shares of Datadog, Inc. (NASDAQ:DDOG)

Polar Asset Management Partners Inc. grew its holdings in Datadog, Inc. (NASDAQ:DDOG) by 54.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 120,500 shares of the company’s stock after buying an additional 42,600 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in Datadog were worth $13,865,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Holocene Advisors LP increased its holdings in Datadog by 205.2% in the third quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock valued at $187,878,000 after purchasing an additional 1,097,815 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Datadog by 1,597.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company’s stock worth $101,841,000 after purchasing an additional 739,011 shares during the period. Champlain Investment Partners LLC bought a new position in shares of Datadog during the third quarter worth about $52,561,000. Eagle Asset Management Inc. lifted its stake in Datadog by 72.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 914,776 shares of the company’s stock valued at $113,844,000 after acquiring an additional 384,121 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in shares of Datadog by 129.2% during the 2nd quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock worth $79,384,000 after acquiring an additional 344,431 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Wall Street Analysts Forecast Growth

DDOG has been the topic of several analyst reports. Scotiabank dropped their price target on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock 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. Monness Crespi & Hardt upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a research note on Thursday, November 7th. TD Cowen restated a “buy” rating and set a $165.00 price objective on shares of Datadog in a report on Tuesday, November 19th. Finally, Robert W. Baird lifted their price target on Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.96.

Insider Activity

In other news, CRO Sean Michael Walters sold 2,322 shares of the business’s stock in a transaction that occurred on 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 owns 183,512 shares of the company’s stock, valued at approximately $22,939,000. The trade was a 1.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Matthew Jacobson sold 9,256 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total value of $1,000,110.80. Following the completion of the sale, the director now owns 48,411 shares of the company’s stock, valued at $5,230,808.55. This represents a 16.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 541,491 shares of company stock worth $68,927,496 over the last three months. 11.78% of the stock is currently owned by corporate insiders.

Datadog Stock Up 1.4 %

Shares of DDOG stock opened at $155.01 on Wednesday. The stock has a fifty day moving average of $129.72 and a 200 day moving average of $121.79. Datadog, Inc. has a 52 week low of $98.80 and a 52 week high of $157.48. The firm has a market capitalization of $52.66 billion, a price-to-earnings ratio of 292.48, a PEG ratio of 20.01 and a beta of 1.11.

Datadog 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.