Zacks Investment Management Grows Stake in Datadog, Inc. (NASDAQ:DDOG)

Zacks Investment Management grew its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 180.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 191,071 shares of the company’s stock after purchasing an additional 123,030 shares during the quarter. Zacks Investment Management’s holdings in Datadog were worth $21,985,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DDOG. Baader Bank Aktiengesellschaft raised its stake in shares of Datadog by 1.5% in the second quarter. Baader Bank Aktiengesellschaft now owns 5,077 shares of the company’s stock worth $657,000 after buying an additional 77 shares during the period. Pathstone Holdings LLC boosted its position in shares of Datadog by 0.4% during the third quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock worth $2,664,000 after acquiring an additional 91 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Datadog by 19.5% during the 3rd quarter. GAMMA Investing LLC now owns 563 shares of the company’s stock valued at $65,000 after purchasing an additional 92 shares during the last quarter. HB Wealth Management LLC grew its holdings in Datadog by 5.2% during the 2nd quarter. HB Wealth Management LLC now owns 1,926 shares of the company’s stock valued at $250,000 after buying an additional 95 shares in the last quarter. Finally, WR Wealth Planners LLC increased its position in Datadog by 31.6% in the second quarter. WR Wealth Planners LLC now owns 433 shares of the company’s stock worth $56,000 after purchasing an additional 104 shares during the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DDOG has been the topic of several analyst reports. Scotiabank reduced their price objective on Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 8th. Barclays lifted their target price on Datadog from $155.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday. Wedbush upgraded shares of Datadog from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Monness Crespi & Hardt raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 target price on the stock in a research report on Thursday, November 7th. Finally, Rosenblatt Securities boosted their price target on Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Datadog presently has an average rating of “Moderate Buy” and an average target price of $152.19.

Insiders Place Their Bets

In other news, General Counsel Kerry Acocella sold 2,488 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $158.04, for a total value of $393,203.52. Following the sale, the general counsel now owns 68,758 shares in the company, valued at $10,866,514.32. This represents a 3.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company’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 completion of the sale, the chief technology officer now directly owns 336,165 shares in the company, valued at approximately $43,476,219.45. The trade was a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 543,979 shares of company stock valued at $69,320,699. 11.78% of the stock is owned by company insiders.

Datadog Price Performance

Shares of DDOG opened at $168.65 on Friday. The company’s fifty day moving average price is $132.79 and its 200-day moving average price is $122.71. Datadog, Inc. has a 1-year low of $98.80 and a 1-year high of $170.08. The firm has a market capitalization of $57.29 billion, a PE ratio of 318.21, a price-to-earnings-growth ratio of 21.49 and a beta of 1.11.

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.