Datadog, Inc. (NASDAQ:DDOG) Shares Purchased by Investment Management Corp of Ontario

Investment Management Corp of Ontario grew its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 50.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,237 shares of the company’s stock after buying an additional 3,100 shares during the period. Investment Management Corp of Ontario’s holdings in Datadog were worth $1,063,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Janus Henderson Group PLC increased its stake in Datadog by 29.8% during the third quarter. Janus Henderson Group PLC now owns 22,851 shares of the company’s stock valued at $2,629,000 after purchasing an additional 5,252 shares during the last quarter. Hilltop Holdings Inc. acquired a new position in shares of Datadog in the 3rd quarter valued at about $291,000. Holocene Advisors LP grew its position in shares of Datadog by 205.2% during the 3rd quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock valued at $187,878,000 after buying an additional 1,097,815 shares during the last quarter. Benjamin Edwards Inc. raised its stake in Datadog by 78,000.0% during the third quarter. Benjamin Edwards Inc. now owns 2,343 shares of the company’s stock worth $270,000 after acquiring an additional 2,340 shares during the period. Finally, Atom Investors LP acquired a new stake in Datadog during the third quarter worth about $1,112,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Citigroup increased their price target on Datadog from $150.00 to $157.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Monness Crespi & Hardt raised Datadog from a “neutral” rating to a “buy” rating and set a $155.00 target price on the stock in a research report on Thursday, November 7th. Scotiabank lowered their price target on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. BMO Capital Markets lifted their price objective on shares of Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Rosenblatt Securities upped their target price on shares of Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Datadog presently has an average rating of “Moderate Buy” and an average price target of $150.96.

Insiders Place Their Bets

In related news, CRO Sean Michael Walters sold 2,322 shares of the business’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 transaction, the executive now directly owns 183,512 shares of the company’s stock, valued at approximately $22,939,000. The trade was a 1.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO David M. Obstler sold 33,334 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $135.95, for a total transaction of $4,531,757.30. Following the completion of the sale, the chief financial officer now owns 314,158 shares of the company’s stock, valued at approximately $42,709,780.10. The trade was a 9.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 541,491 shares of company stock worth $68,927,496. 11.78% of the stock is currently owned by company insiders.

Datadog Stock Down 1.5 %

DDOG opened at $163.35 on Friday. The firm has a market capitalization of $55.49 billion, a P/E ratio of 308.21, a PEG ratio of 20.08 and a beta of 1.11. The stock has a fifty day moving average of $131.70 and a 200-day moving average of $122.38. Datadog, Inc. has a 12-month low of $98.80 and a 12-month high of $166.08.

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.