MetLife Investment Management LLC Sells 370 Shares of Datadog, Inc. (NASDAQ:DDOG)

MetLife Investment Management LLC lowered its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 1.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 18,846 shares of the company’s stock after selling 370 shares during the period. MetLife Investment Management LLC’s holdings in Datadog were worth $2,168,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of DDOG. Los Angeles Capital Management LLC boosted its stake in shares of Datadog by 172.2% during 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 period. Heritage Investors Management Corp bought a new position in Datadog during the third quarter worth $1,157,000. Parnassus Investments LLC increased its holdings in shares of Datadog by 28.4% in the third quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock valued at $21,324,000 after purchasing an additional 40,952 shares during the last quarter. Jennison Associates LLC raised its position in shares of Datadog by 2.1% in 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 during the period. Finally, Bank of Montreal Can lifted its stake in shares of Datadog by 129.2% during the 2nd quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock worth $79,384,000 after buying an additional 344,431 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Stock Performance

NASDAQ DDOG opened at $163.35 on Friday. The firm’s fifty day moving average price is $131.70 and its two-hundred day moving average price is $122.38. The stock has a market cap of $55.49 billion, a PE ratio of 308.21, a PEG ratio of 20.08 and a beta of 1.11. Datadog, Inc. has a fifty-two week low of $98.80 and a fifty-two week high of $166.08.

Insider Activity at Datadog

In other news, President Amit Agarwal sold 150,000 shares of Datadog stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $126.03, for a total transaction of $18,904,500.00. Following the sale, the president now directly owns 214,275 shares of the company’s stock, valued at approximately $27,005,078.25. This trade represents a 41.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Sean Michael Walters sold 2,322 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $125.00, for a total transaction of $290,250.00. Following the completion of the transaction, the executive now owns 183,512 shares of the company’s stock, valued at approximately $22,939,000. This trade represents a 1.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 541,491 shares of company stock valued at $68,927,496 in the last 90 days. 11.78% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on DDOG shares. Citigroup upped their price target on shares of Datadog from $150.00 to $157.00 and gave the company a “buy” rating in a research note on Friday, November 8th. BMO Capital Markets increased 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. Barclays lifted their price target on Datadog from $140.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. DA Davidson upped their price objective on Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Scotiabank dropped their target price on Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.