Algert Global LLC Has $4.75 Million Stake in Datadog, Inc. (NASDAQ:DDOG)

Algert Global LLC raised its holdings in Datadog, Inc. (NASDAQ:DDOG) by 832.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,299 shares of the company’s stock after purchasing an additional 36,872 shares during the period. Algert Global LLC’s holdings in Datadog were worth $4,752,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in DDOG. Jennison Associates LLC lifted its position 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. Massachusetts Financial Services Co. MA raised its position in shares of Datadog by 9.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock valued at $511,620,000 after buying an additional 331,808 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of Datadog by 5.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,486,600 shares of the company’s stock worth $322,487,000 after acquiring an additional 138,700 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Datadog by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,176,577 shares of the company’s stock worth $135,377,000 after acquiring an additional 29,404 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Datadog by 19.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,068,070 shares of the company’s stock valued at $138,518,000 after acquiring an additional 172,887 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Price Performance

Shares of NASDAQ:DDOG opened at $154.83 on Monday. The firm has a fifty day moving average price of $124.21 and a two-hundred day moving average price of $120.05. The company has a market cap of $52.60 billion, a price-to-earnings ratio of 292.14, a PEG ratio of 18.83 and a beta of 1.10. Datadog, Inc. has a one year low of $98.80 and a one year high of $155.42.

Wall Street Analyst Weigh In

DDOG has been the topic of several recent analyst reports. Wedbush upgraded Datadog from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. BTIG Research raised Datadog from a “neutral” rating to a “buy” rating and set a $143.00 target price for the company in a research note on Thursday, August 1st. Barclays raised their price target on shares of Datadog from $140.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. DA Davidson upped their price objective on shares of Datadog from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Needham & Company LLC cut their target price on shares of Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $150.96.

Insider Buying and Selling

In other news, CRO Sean Michael Walters sold 2,322 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $125.00, for a total transaction of $290,250.00. Following the completion of the sale, the executive now owns 183,512 shares of the company’s stock, valued at approximately $22,939,000. This represents a 1.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Amit Agarwal sold 150,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $126.03, for a total transaction of $18,904,500.00. Following the transaction, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 541,491 shares of company stock worth $68,927,496. Insiders own 11.78% of the company’s stock.

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.