Loomis Sayles & Co. L P Acquires New Shares in Datadog, Inc. (NASDAQ:DDOG)

Loomis Sayles & Co. L P purchased a new position in Datadog, Inc. (NASDAQ:DDOG) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 2,900 shares of the company’s stock, valued at approximately $334,000.

Other institutional investors also recently bought and sold shares of the company. SouthState Corp purchased a new position in shares of Datadog in the 2nd quarter valued at $26,000. Meeder Asset Management Inc. boosted its position in Datadog by 66.5% during the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after purchasing an additional 115 shares in the last quarter. Blue Trust Inc. bought a new position in Datadog in the second quarter worth about $37,000. EverSource Wealth Advisors LLC lifted its position in shares of Datadog by 70.2% during the first quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock valued at $39,000 after buying an additional 127 shares during the last quarter. Finally, American National Bank & Trust bought a new stake in shares of Datadog in the 3rd quarter valued at about $39,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

Datadog Price Performance

Shares of Datadog stock opened at $151.96 on Friday. The stock has a market capitalization of $51.62 billion, a P/E ratio of 286.72, a PEG ratio of 20.50 and a beta of 1.10. The business has a 50 day simple moving average of $127.47 and a two-hundred day simple moving average of $121.02. Datadog, Inc. has a 12 month low of $98.80 and a 12 month high of $157.48.

Insider Transactions at Datadog

In other Datadog news, Director Shardul Shah sold 15,832 shares of the business’s 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 owns 459,449 shares of the company’s stock, valued at approximately $55,143,068.98. The trade was a 3.33 % 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, CRO Sean Michael Walters sold 4,244 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $135.00, for a total value of $572,940.00. Following the completion of the sale, the executive now directly owns 179,367 shares of the company’s stock, valued at $24,214,545. This trade represents a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 541,491 shares of company stock valued at $68,927,496 over the last 90 days. 11.78% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on DDOG. Sanford C. Bernstein reduced their price objective 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. Citigroup increased their price objective on Datadog from $150.00 to $157.00 and gave the company a “buy” rating in a report on Friday, November 8th. Scotiabank lowered their price target on Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. Robert W. Baird lifted their target price 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. Finally, TD Cowen restated a “buy” rating and set a $165.00 price target on shares of Datadog in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $150.96.

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.