Penserra Capital Management LLC Decreases Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Penserra Capital Management LLC cut its holdings in Datadog, Inc. (NASDAQ:DDOG) by 91.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,631 shares of the company’s stock after selling 84,569 shares during the quarter. Penserra Capital Management LLC’s holdings in Datadog were worth $877,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Algert Global LLC grew its stake in shares of Datadog by 832.9% in the 3rd quarter. Algert Global LLC now owns 41,299 shares of the company’s stock worth $4,752,000 after buying an additional 36,872 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Datadog by 33.9% in the 3rd quarter. Cerity Partners LLC now owns 40,752 shares of the company’s stock valued at $4,689,000 after acquiring an additional 10,318 shares during the last quarter. Champlain Investment Partners LLC purchased a new position in Datadog in the third quarter worth about $52,561,000. Eagle Asset Management Inc. increased its stake in Datadog by 72.4% during the third quarter. Eagle Asset Management Inc. now owns 914,776 shares of the company’s stock worth $113,844,000 after acquiring an additional 384,121 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Datadog by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,176,577 shares of the company’s stock valued at $135,377,000 after purchasing an additional 29,404 shares during the period. Institutional investors own 78.29% of the company’s stock.

Insider Activity at Datadog

In other news, President Amit Agarwal sold 150,000 shares of the firm’s stock in a transaction 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 sale, the president now owns 214,275 shares of the company’s stock, valued at $27,005,078.25. This trade represents a 41.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Sean Michael Walters sold 2,322 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $125.00, for a total value of $290,250.00. Following the transaction, the executive now directly owns 183,512 shares in the company, valued at $22,939,000. This represents a 1.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 541,491 shares of company stock valued at $68,927,496 over the last quarter. 11.78% of the stock is owned by corporate insiders.

Datadog Trading Down 1.6 %

Shares of NASDAQ:DDOG opened at $151.96 on Thursday. The company has a market capitalization of $51.62 billion, a PE ratio of 286.72, a P/E/G ratio of 20.50 and a beta of 1.10. Datadog, Inc. has a 12-month low of $98.80 and a 12-month high of $157.48. The business’s fifty day simple moving average is $126.74 and its 200-day simple moving average is $120.81.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on DDOG shares. BNP Paribas initiated coverage on Datadog in a research report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 target price on the stock. TD Cowen reiterated a “buy” rating and set a $165.00 price objective on shares of Datadog in a research report on Tuesday, November 19th. Scotiabank reduced their target price on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 8th. Citigroup lifted their price target on shares of Datadog from $150.00 to $157.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Needham & Company LLC reduced their price objective 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 research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Datadog presently has an average rating of “Moderate Buy” and an average price target of $150.96.

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.