Datadog, Inc. (NASDAQ:DDOG) Stock Position Decreased by Adero Partners LLC

Adero Partners LLC lowered its holdings in Datadog, Inc. (NASDAQ:DDOG) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 235,554 shares of the company’s stock after selling 1,978 shares during the period. Datadog comprises about 2.2% of Adero Partners LLC’s investment portfolio, making the stock its 13th biggest holding. Adero Partners LLC owned about 0.07% of Datadog worth $33,658,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Jennison Associates LLC boosted its stake in Datadog by 47.9% during the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after purchasing an additional 3,005,300 shares during the period. Geode Capital Management LLC raised its holdings in shares of Datadog by 2.5% during the third quarter. Geode Capital Management LLC now owns 5,185,557 shares of the company’s stock valued at $595,438,000 after buying an additional 125,457 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Datadog by 2.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,024,926 shares of the company’s stock worth $232,988,000 after buying an additional 46,746 shares during the period. Holocene Advisors LP grew its holdings in Datadog by 205.2% in the 3rd quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock worth $187,878,000 after buying an additional 1,097,815 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Datadog by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,176,577 shares of the company’s stock valued at $135,377,000 after acquiring an additional 29,404 shares during the period. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Stock Performance

DDOG stock opened at $144.85 on Thursday. The stock has a market cap of $49.21 billion, a P/E ratio of 273.31, a P/E/G ratio of 16.59 and a beta of 1.15. The firm has a 50 day simple moving average of $147.55 and a 200 day simple moving average of $129.90. Datadog, Inc. has a 52 week low of $98.80 and a 52 week high of $170.08.

Wall Street Analyst Weigh In

DDOG has been the subject of a number of analyst reports. Barclays boosted their price target on Datadog from $155.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Robert W. Baird increased their target price on shares of Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Rosenblatt Securities raised their target price on shares of Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, November 8th. TD Cowen reaffirmed a “buy” rating and issued a $165.00 price target on shares of Datadog in a research note on Tuesday, November 19th. Finally, UBS Group reiterated an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Datadog has a consensus rating of “Moderate Buy” and an average price target of $157.59.

Insider Buying and Selling at Datadog

In related news, Director Matthew Jacobson sold 3,393 shares of the business’s 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 sale, the director now owns 695,086 shares of the company’s stock, valued at approximately $86,906,602.58. The trade was a 0.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Shardul Shah sold 7,916 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 435,701 shares in the company, valued at approximately $67,642,580.25. The trade was a 1.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 780,979 shares of company stock valued at $111,869,206 in the last quarter. Company insiders own 11.78% of the company’s stock.

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.