Atria Investments Inc Boosts Stake in Datadog, Inc. (NASDAQ:DDOG)

Atria Investments Inc raised its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 9.5% in the third quarter, Holdings Channel.com reports. The fund owned 4,802 shares of the company’s stock after buying an additional 416 shares during the quarter. Atria Investments Inc’s holdings in Datadog were worth $553,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in DDOG. SouthState Corp purchased a new stake in Datadog during the second quarter valued at about $26,000. Blue Trust Inc. purchased a new stake in shares of Datadog in the second quarter worth about $37,000. EverSource Wealth Advisors LLC boosted its position in shares of Datadog by 70.2% in the first quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock worth $39,000 after buying an additional 127 shares during the period. American National Bank & Trust purchased a new stake in shares of Datadog in the third quarter worth about $39,000. Finally, Versant Capital Management Inc boosted its position in shares of Datadog by 216.5% in the second quarter. Versant Capital Management Inc now owns 307 shares of the company’s stock worth $40,000 after buying an additional 210 shares during the period. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Trading Up 5.9 %

Shares of Datadog stock opened at $133.41 on Wednesday. The business’s 50 day simple moving average is $122.10 and its 200-day simple moving average is $119.50. The stock has a market capitalization of $45.32 billion, a price-to-earnings ratio of 251.72, a PEG ratio of 18.85 and a beta of 1.10. Datadog, Inc. has a twelve month low of $98.80 and a twelve month high of $138.61.

Analyst Ratings Changes

DDOG has been the subject of several analyst reports. BMO Capital Markets upped their target price on Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Robert W. Baird upped their target price on Datadog from $140.00 to $150.00 and gave the stock an “outperform” 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 for the company in a research report on Thursday, November 7th. DA Davidson upped their target price on Datadog from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, TD Cowen reiterated a “buy” rating and issued a $165.00 price target on shares of Datadog in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.96.

Insider Transactions at Datadog

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $129.33, for a total value of $16,438,489.65. Following the completion of the transaction, the chief technology officer now directly owns 336,165 shares of the company’s stock, valued at $43,476,219.45. This represents a 27.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Amit Agarwal sold 150,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $126.03, for a total value of $18,904,500.00. Following the completion of the transaction, the president now directly owns 214,275 shares of the company’s stock, valued at $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. In the last ninety days, insiders have sold 470,579 shares of company stock worth $59,291,041. 11.78% of the stock is currently owned by company insiders.

About Datadog

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.