Forsta AP Fonden Sells 500 Shares of Datadog, Inc. (NASDAQ:DDOG)

Forsta AP Fonden lessened its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 58,000 shares of the company’s stock after selling 500 shares during the quarter. Forsta AP Fonden’s holdings in Datadog were worth $8,288,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its stake in Datadog by 4.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 42,551 shares of the company’s stock worth $5,518,000 after purchasing an additional 1,843 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of Datadog by 5.4% in the second quarter. Mackenzie Financial Corp now owns 22,484 shares of the company’s stock worth $2,916,000 after buying an additional 1,152 shares in the last quarter. Algert Global LLC boosted its stake in Datadog by 128.0% during the second quarter. Algert Global LLC now owns 4,427 shares of the company’s stock valued at $574,000 after buying an additional 2,485 shares during the last quarter. Creative Planning grew its holdings in Datadog by 7.1% during the 2nd quarter. Creative Planning now owns 14,578 shares of the company’s stock valued at $1,891,000 after buying an additional 963 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Datadog by 4.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 13,141 shares of the company’s stock worth $1,704,000 after acquiring an additional 571 shares during the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, President Amit Agarwal sold 150,000 shares of Datadog stock in a transaction on Friday, November 15th. The shares were sold at an average price of $126.03, for a total transaction of $18,904,500.00. Following the completion of the sale, the president now directly owns 214,275 shares in the company, valued at approximately $27,005,078.25. The trade was a 41.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Matthew Jacobson sold 3,393 shares of Datadog stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $125.03, for a total value of $424,226.79. Following the sale, the director now directly owns 695,086 shares of the company’s stock, valued at approximately $86,906,602.58. This represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 653,874 shares of company stock worth $93,721,154 in the last 90 days. 11.78% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DDOG. BNP Paribas started coverage on shares of Datadog in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 price target on the stock. Robert W. Baird lifted their price objective on shares of Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Rosenblatt Securities upped 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. Monness Crespi & Hardt upgraded Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a research report on Thursday, November 7th. Finally, 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. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $157.59.

Datadog Stock Down 2.1 %

Datadog stock opened at $142.61 on Friday. Datadog, Inc. has a twelve month low of $98.80 and a twelve month high of $170.08. The business has a fifty day moving average of $148.26 and a two-hundred day moving average of $129.30. The firm has a market cap of $48.45 billion, a P/E ratio of 269.08, a P/E/G ratio of 16.28 and a beta of 1.14.

Datadog Company 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.