Victory Capital Management Inc. Raises Position in Datadog, Inc. (NASDAQ:DDOG)

Victory Capital Management Inc. grew its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 8.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 256,051 shares of the company’s stock after purchasing an additional 20,758 shares during the period. Victory Capital Management Inc. owned approximately 0.08% of Datadog worth $29,461,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DDOG. Los Angeles Capital Management LLC raised its stake in Datadog by 172.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock worth $4,469,000 after acquiring an additional 24,574 shares during the last quarter. Heritage Investors Management Corp purchased a new position in Datadog in the 3rd quarter worth $1,157,000. Bank of Montreal Can raised its stake in Datadog by 129.2% in the 2nd quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock worth $79,384,000 after acquiring an additional 344,431 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Datadog by 23.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,933 shares of the company’s stock worth $19,635,000 after acquiring an additional 32,217 shares during the last quarter. Finally, Plato Investment Management Ltd raised its stake in Datadog by 1,648.8% in the 1st quarter. Plato Investment Management Ltd now owns 5,159 shares of the company’s stock worth $638,000 after acquiring an additional 4,864 shares during the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Trading Down 4.1 %

NASDAQ:DDOG opened at $126.09 on Monday. Datadog, Inc. has a 12 month low of $98.80 and a 12 month high of $138.61. The stock has a 50 day moving average of $121.23 and a two-hundred day moving average of $119.44. The firm has a market cap of $42.84 billion, a P/E ratio of 237.91, a price-to-earnings-growth ratio of 18.85 and a beta of 1.10.

Insiders Place Their Bets

In related news, Director Matthew Jacobson sold 9,256 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total value of $1,000,110.80. Following the transaction, the director now directly owns 48,411 shares in the company, valued at approximately $5,230,808.55. This represents a 16.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $129.33, for a total value of $16,438,489.65. Following the completion of the transaction, the chief technology officer now owns 336,165 shares in the company, valued at $43,476,219.45. This represents a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 320,579 shares of company stock worth $40,386,541. Corporate insiders own 11.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. BMO Capital Markets raised their target price on Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Robert W. Baird lifted their price objective on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. DA Davidson lifted their price objective on Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 8th. UBS Group reiterated an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $150.00 price objective on shares of Datadog in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $150.96.

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.