StoneCrest Wealth Management Inc. Buys 628 Shares of Datadog, Inc. (NASDAQ:DDOG)

StoneCrest Wealth Management Inc. increased its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 12.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,525 shares of the company’s stock after buying an additional 628 shares during the quarter. StoneCrest Wealth Management Inc.’s holdings in Datadog were worth $789,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Los Angeles Capital Management LLC grew 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 in the last quarter. Heritage Investors Management Corp purchased a new position in Datadog during the third quarter worth about $1,157,000. Atom Investors LP bought a new stake in Datadog in the 3rd quarter worth about $1,112,000. Jennison Associates LLC increased its stake in Datadog by 2.1% in the 3rd quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock valued at $721,811,000 after buying an additional 126,613 shares during the last quarter. Finally, Parnassus Investments LLC increased its stake 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 buying an additional 40,952 shares during the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Datadog

In related news, Director Shardul Shah sold 7,916 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $155.25, for a total transaction of $1,228,959.00. Following the completion of the sale, the director now directly owns 435,701 shares in the company, valued at $67,642,580.25. This represents a 1.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Matthew Jacobson sold 3,393 shares of Datadog stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $125.03, for a total value of $424,226.79. Following the completion of the transaction, the director now directly owns 695,086 shares in the company, valued at $86,906,602.58. This trade represents a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 609,763 shares of company stock worth $87,543,649 over the last three months. Company insiders own 11.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on DDOG shares. TD Cowen reaffirmed a “buy” rating and issued a $165.00 target price on shares of Datadog in a report on Tuesday, November 19th. Jefferies Financial Group upped their price objective on Datadog from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Mizuho lifted their target price on Datadog from $155.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Morgan Stanley restated an “equal weight” rating and set a $143.00 price target on shares of Datadog in a research report on Thursday. Finally, Sanford C. Bernstein lowered their price objective on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.97.

Datadog Stock Performance

DDOG stock opened at $136.79 on Friday. The firm has a market cap of $46.47 billion, a P/E ratio of 258.10, a P/E/G ratio of 16.31 and a beta of 1.14. The firm’s fifty day moving average is $145.61 and its 200 day moving average is $128.51. Datadog, Inc. has a 52 week low of $98.80 and a 52 week high of $170.08.

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.