Datadog, Inc. (NASDAQ:DDOG) Shares Acquired by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC lifted its stake in Datadog, Inc. (NASDAQ:DDOG) by 11.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,974 shares of the company’s stock after purchasing an additional 726 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Datadog were worth $802,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in DDOG. Los Angeles Capital Management LLC increased its stake in shares of 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 acquired a new stake in Datadog during the third quarter worth about $1,157,000. Atom Investors LP acquired a new stake in Datadog during the third quarter worth about $1,112,000. Jennison Associates LLC raised its stake in Datadog by 2.1% during the third quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock worth $721,811,000 after purchasing an additional 126,613 shares during the period. Finally, Parnassus Investments LLC boosted its holdings in Datadog by 28.4% in the 3rd 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. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Insider Buying and Selling

In related news, Director Shardul Shah sold 15,832 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 459,449 shares in the company, valued at $55,143,068.98. The trade was a 3.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Olivier Pomel sold 178,723 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the completion of the transaction, the chief executive officer now owns 379,693 shares in the company, valued at $61,236,887.04. This represents a 32.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 713,446 shares of company stock worth $97,145,034. Corporate insiders own 11.78% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on DDOG. UBS Group reaffirmed an “underperform” rating on shares of Datadog in a research report on Friday, October 18th. BNP Paribas initiated coverage on Datadog in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 target price on the stock. Mizuho increased their price target on Datadog from $155.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday. TD Cowen restated a “buy” rating and issued a $165.00 price objective on shares of Datadog in a report on Tuesday, November 19th. Finally, Citigroup increased their target price on shares of Datadog from $150.00 to $157.00 and gave the stock 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-six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Datadog presently has an average rating of “Moderate Buy” and a consensus price target of $155.07.

Datadog Trading Up 1.8 %

Shares of NASDAQ:DDOG opened at $155.82 on Tuesday. Datadog, Inc. has a 52 week low of $98.80 and a 52 week high of $170.08. The company’s 50 day moving average is $137.39 and its two-hundred day moving average is $124.17. The company has a market cap of $52.94 billion, a PE ratio of 294.00, a P/E/G ratio of 20.27 and a beta of 1.11.

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.