Westfield Capital Management Co. LP Has $68.78 Million Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Westfield Capital Management Co. LP raised its stake in Datadog, Inc. (NASDAQ:DDOG) by 5.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 597,805 shares of the company’s stock after acquiring an additional 31,059 shares during the quarter. Westfield Capital Management Co. LP owned about 0.18% of Datadog worth $68,783,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. SouthState Corp bought a new position in Datadog in the 2nd quarter worth approximately $26,000. Meeder Asset Management Inc. lifted its stake in shares of 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 acquiring an additional 115 shares during the period. Blue Trust Inc. bought a new position in Datadog in the second quarter valued at about $37,000. EverSource Wealth Advisors LLC increased its position in Datadog by 70.2% in the first quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock worth $39,000 after purchasing an additional 127 shares during the period. Finally, American National Bank & Trust bought a new stake in Datadog during the 3rd quarter worth about $39,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Datadog news, Director Shardul Shah sold 15,832 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $120.02, for a total transaction of $1,900,156.64. Following the sale, the director now directly owns 459,449 shares of the company’s stock, valued at $55,143,068.98. The trade was a 3.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Amit Agarwal sold 150,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $126.03, for a total value of $18,904,500.00. Following the completion of the transaction, the president now owns 214,275 shares of the company’s stock, valued at $27,005,078.25. The trade was a 41.18 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 541,491 shares of company stock worth $68,927,496. 11.78% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on DDOG. UBS Group reaffirmed an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. BTIG Research raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 target price for the company in a report on Thursday, August 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $151.00 target price on shares of Datadog in a research report on Friday, August 9th. Rosenblatt Securities raised their price target on Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Robert W. Baird upped their price objective on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a report 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $150.96.

Datadog Trading Up 7.6 %

DDOG stock opened at $154.83 on Friday. The stock has a market cap of $52.60 billion, a PE ratio of 292.14, a price-to-earnings-growth ratio of 18.83 and a beta of 1.10. The stock has a 50-day moving average price of $124.21 and a two-hundred day moving average price of $120.03. Datadog, Inc. has a 1 year low of $98.80 and a 1 year high of $155.42.

Datadog Company 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.