Pacer Advisors Inc. Buys 40,177 Shares of Datadog, Inc. (NASDAQ:DDOG)

Pacer Advisors Inc. raised its stake in Datadog, Inc. (NASDAQ:DDOG) by 141.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 68,595 shares of the company’s stock after acquiring an additional 40,177 shares during the period. Pacer Advisors Inc.’s holdings in Datadog were worth $9,802,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of DDOG. Dimensional Fund Advisors LP grew its holdings in shares of Datadog by 10.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 306,402 shares of the company’s stock worth $39,735,000 after purchasing an additional 29,890 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Datadog by 4.5% during the second quarter. The Manufacturers Life Insurance Company now owns 42,551 shares of the company’s stock worth $5,518,000 after buying an additional 1,843 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Datadog by 5.4% in the second quarter. Mackenzie Financial Corp now owns 22,484 shares of the company’s stock valued at $2,916,000 after acquiring an additional 1,152 shares during the last quarter. Algert Global LLC boosted its holdings in shares of Datadog by 128.0% in the 2nd quarter. Algert Global LLC now owns 4,427 shares of the company’s stock worth $574,000 after acquiring an additional 2,485 shares in the last quarter. Finally, Creative Planning grew its position in Datadog by 7.1% during the 2nd quarter. Creative Planning now owns 14,578 shares of the company’s stock worth $1,891,000 after acquiring an additional 963 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Monness Crespi & Hardt upgraded Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a research report on Thursday, November 7th. Guggenheim reiterated a “neutral” rating on shares of Datadog in a research report on Wednesday, January 22nd. Barclays raised their price objective on shares of Datadog from $155.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. UBS Group reissued an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. Finally, Cantor Fitzgerald assumed coverage on shares of Datadog in a research report on Friday, January 17th. They issued an “overweight” rating and a $180.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $158.45.

Datadog Trading Up 6.8 %

DDOG opened at $151.89 on Wednesday. The stock has a market capitalization of $51.60 billion, a P/E ratio of 286.59, a P/E/G ratio of 16.28 and a beta of 1.14. Datadog, Inc. has a 12 month low of $98.80 and a 12 month high of $170.08. The firm’s fifty day simple moving average is $147.68 and its 200 day simple moving average is $129.02.

Insider Buying and Selling at Datadog

In other Datadog news, Director Shardul Shah sold 7,916 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $155.25, for a total transaction of $1,228,959.00. Following the sale, the director now directly owns 435,701 shares of the company’s stock, valued at $67,642,580.25. The trade was a 1.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $141.21, for a total value of $17,948,497.05. Following the completion of the transaction, the chief technology officer now owns 324,778 shares of the company’s stock, valued at $45,861,901.38. The trade was a 28.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 642,679 shares of company stock valued at $92,155,421 in the last 90 days. 11.78% of the stock is currently owned by company insiders.

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.