5,686 Shares in Datadog, Inc. (NASDAQ:DDOG) Acquired by Biltmore Wealth Management LLC

Biltmore Wealth Management LLC bought a new stake in shares of Datadog, Inc. (NASDAQ:DDOG) in the fourth quarter, Holdings Channel.com reports. The fund bought 5,686 shares of the company’s stock, valued at approximately $812,000. Datadog accounts for 0.3% of Biltmore Wealth Management LLC’s investment portfolio, making the stock its 28th biggest position.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Holocene Advisors LP boosted its stake in shares of Datadog by 205.2% in the 3rd 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 position in 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 acquiring an additional 739,011 shares during the last quarter. Champlain Investment Partners LLC bought a new stake in Datadog during the third quarter valued at $52,561,000. Eagle Asset Management Inc. raised its position in shares of Datadog by 72.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 914,776 shares of the company’s stock worth $113,844,000 after acquiring an additional 384,121 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in shares of Datadog by 129.2% in the 2nd 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 period. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Stock Down 1.7 %

DDOG opened at $138.00 on Tuesday. The company’s 50-day moving average price is $145.08 and its two-hundred day moving average price is $128.36. Datadog, Inc. has a twelve month low of $98.80 and a twelve month high of $170.08. The stock has a market cap of $46.88 billion, a price-to-earnings ratio of 260.38, a PEG ratio of 19.82 and a beta of 1.14.

Insider Activity at Datadog

In other news, President Amit Agarwal sold 150,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $126.03, for a total value of $18,904,500.00. Following the sale, the president now owns 214,275 shares of the company’s stock, valued at $27,005,078.25. The trade was a 41.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Matthew Jacobson sold 3,393 shares of Datadog stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $125.03, for a total transaction of $424,226.79. Following the completion of the transaction, the director now owns 695,086 shares of the company’s stock, valued at $86,906,602.58. This represents a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 609,763 shares of company stock worth $87,543,649. Insiders own 11.78% of the company’s stock.

Wall Street Analysts Forecast Growth

DDOG has been the subject of several recent analyst reports. Loop Capital raised their target price on Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Monness Crespi & Hardt raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a research report on Thursday, November 7th. TD Cowen reiterated a “buy” rating and issued a $165.00 price objective on shares of Datadog in a research note on Tuesday, November 19th. Macquarie began coverage on shares of Datadog in a research note on Thursday, December 12th. They set an “outperform” rating and a $200.00 target price on the stock. Finally, Sanford C. Bernstein decreased their price target on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Datadog has a consensus rating of “Moderate Buy” and a consensus price target of $157.46.

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.