Jackson Square Capital LLC Acquires Shares of 7,813 Datadog, Inc. (NASDAQ:DDOG)

Jackson Square Capital LLC bought a new position in Datadog, Inc. (NASDAQ:DDOG) during the 4th quarter, Holdings Channel reports. The fund bought 7,813 shares of the company’s stock, valued at approximately $1,116,000.

A number of other hedge funds also recently made changes to their positions in the company. Los Angeles Capital Management LLC grew its holdings in Datadog by 172.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock valued at $4,469,000 after buying an additional 24,574 shares in the last quarter. Heritage Investors Management Corp purchased a new position in shares of Datadog in the third quarter valued at $1,157,000. Atom Investors LP bought a new stake in Datadog in the third quarter worth $1,112,000. Parnassus Investments LLC increased its position in Datadog by 28.4% in the third quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock worth $21,324,000 after purchasing an additional 40,952 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in Datadog by 2.1% during the third quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock valued at $721,811,000 after purchasing an additional 126,613 shares in the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Matthew Jacobson sold 3,393 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $125.03, for a total transaction of $424,226.79. Following the transaction, the director now owns 695,086 shares in the company, valued at $86,906,602.58. This represents a 0.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Olivier Pomel sold 178,723 shares of Datadog stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the completion of the sale, the chief executive officer now owns 379,693 shares of the company’s stock, valued at $61,236,887.04. This trade represents a 32.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 617,679 shares of company stock worth $88,668,671 in the last ninety days. 11.78% of the stock is owned by insiders.

Datadog Trading Up 1.2 %

Shares of DDOG stock opened at $138.40 on Friday. Datadog, Inc. has a 12-month low of $98.80 and a 12-month high of $170.08. The business’s fifty day simple moving average is $146.03 and its 200-day simple moving average is $128.62. The company has a market cap of $47.02 billion, a PE ratio of 261.14, a PEG ratio of 16.31 and a beta of 1.14.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DDOG. Scotiabank reduced their target price on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. Citigroup boosted their price objective on Datadog from $157.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday. Cantor Fitzgerald initiated coverage on Datadog in a research note on Friday. They issued an “overweight” rating and a $180.00 price objective for the company. Loop Capital boosted their target price on Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Finally, BNP Paribas initiated coverage on Datadog in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $158.45.

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.