Larson Financial Group LLC Purchases 818 Shares of Datadog, Inc. (NASDAQ:DDOG)

Larson Financial Group LLC increased its position in Datadog, Inc. (NASDAQ:DDOG) by 3,718.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 840 shares of the company’s stock after buying an additional 818 shares during the quarter. Larson Financial Group LLC’s holdings in Datadog were worth $97,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. SouthState Corp bought a new stake in Datadog in the second quarter valued at approximately $26,000. Meeder Asset Management Inc. lifted its position in Datadog by 66.5% in the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after purchasing an additional 115 shares during the last quarter. Blue Trust Inc. bought a new stake in Datadog in the second quarter valued at approximately $37,000. EverSource Wealth Advisors LLC lifted its position in Datadog by 70.2% in the first quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock valued at $39,000 after purchasing an additional 127 shares during the last quarter. Finally, American National Bank & Trust bought a new stake in Datadog in the third quarter valued at approximately $39,000. Institutional investors own 78.29% of the company’s stock.

Insider Activity at Datadog

In other Datadog news, CFO David M. Obstler sold 33,334 shares of Datadog stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $135.95, for a total value of $4,531,757.30. Following the sale, the chief financial officer now directly owns 314,158 shares in the company, valued at approximately $42,709,780.10. The trade was a 9.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Amit Agarwal sold 150,000 shares of Datadog stock in a transaction on Friday, November 15th. The shares were sold at an average price of $126.03, for a total transaction of $18,904,500.00. Following the completion of the sale, the president now owns 214,275 shares in the company, valued at approximately $27,005,078.25. This represents a 41.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 541,491 shares of company stock worth $68,927,496. 11.78% of the stock is owned by corporate insiders.

Datadog Stock Performance

DDOG opened at $151.96 on Friday. Datadog, Inc. has a fifty-two week low of $98.80 and a fifty-two week high of $157.48. The firm’s fifty day moving average is $127.47 and its 200 day moving average is $121.02. The stock has a market cap of $51.62 billion, a price-to-earnings ratio of 286.72, a price-to-earnings-growth ratio of 20.50 and a beta of 1.10.

Analyst Upgrades and Downgrades

Several analysts have weighed in on DDOG shares. 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. UBS Group reiterated an “underperform” rating on shares of Datadog in a research report on Friday, October 18th. Sanford C. Bernstein reduced their target price on Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. TD Cowen reissued a “buy” rating and set a $165.00 target price on shares of Datadog in a research note on Tuesday, November 19th. Finally, BTIG Research raised Datadog from a “neutral” rating to a “buy” rating and set a $143.00 target price on the stock in a research note on Thursday, August 1st. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, Datadog has a consensus rating of “Moderate Buy” and a consensus price target of $150.96.

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.