Datadog, Inc. (NASDAQ:DDOG) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its stake in Datadog, Inc. (NASDAQ:DDOG) by 8.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 131,545 shares of the company’s stock after selling 12,118 shares during the quarter. Principal Financial Group Inc.’s holdings in Datadog were worth $15,136,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Heritage Investors Management Corp acquired a new stake in shares of Datadog in the third quarter valued at about $1,157,000. QRG Capital Management Inc. grew its stake in shares of Datadog by 5.5% in the third quarter. QRG Capital Management Inc. now owns 18,988 shares of the company’s stock valued at $2,185,000 after buying an additional 992 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in shares of Datadog by 3.3% in the third quarter. Asset Management One Co. Ltd. now owns 99,194 shares of the company’s stock valued at $11,413,000 after buying an additional 3,151 shares in the last quarter. National Pension Service grew its stake in shares of Datadog by 10.2% in the third quarter. National Pension Service now owns 432,450 shares of the company’s stock valued at $49,758,000 after buying an additional 39,881 shares in the last quarter. Finally, KG&L Capital Management LLC grew its stake in shares of Datadog by 22.3% in the third quarter. KG&L Capital Management LLC now owns 3,915 shares of the company’s stock valued at $450,000 after buying an additional 715 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Insider Activity at Datadog

In other news, Director Shardul Shah sold 15,832 shares of Datadog stock in a transaction on Friday, October 4th. The stock was sold at an average price of $120.02, for a total transaction of $1,900,156.64. Following the transaction, the director now directly owns 459,449 shares in the company, valued at approximately $55,143,068.98. This trade represents a 3.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew Jacobson sold 3,393 shares of Datadog stock in a transaction on Monday, November 11th. The shares were sold at an average price of $125.03, for a total value of $424,226.79. Following the transaction, the director now owns 695,086 shares in the company, valued at approximately $86,906,602.58. This trade represents a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 320,579 shares of company stock worth $40,386,541 in the last three months. 11.78% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. DA Davidson increased their target price on Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Needham & Company LLC lowered their price objective on Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Rosenblatt Securities raised their price objective on Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Monness Crespi & Hardt upgraded Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a research note on Thursday, November 7th. Finally, Citigroup raised their price objective on Datadog from $150.00 to $157.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One research 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Datadog currently has an average rating of “Moderate Buy” and an average target price of $150.96.

Datadog Price Performance

DDOG opened at $126.09 on Friday. Datadog, Inc. has a 12 month low of $98.80 and a 12 month high of $138.61. The stock has a market cap of $42.51 billion, a P/E ratio of 240.74, a P/E/G ratio of 19.20 and a beta of 1.10. The stock’s 50 day moving average price is $120.85 and its 200 day moving average price is $119.55.

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.