Intech Investment Management LLC Raises Position in Datadog, Inc. (NASDAQ:DDOG)

Intech Investment Management LLC lifted its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 14.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,084 shares of the company’s stock after acquiring an additional 2,069 shares during the quarter. Intech Investment Management LLC’s holdings in Datadog were worth $1,851,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Baader Bank Aktiengesellschaft raised its position in Datadog by 1.5% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 5,077 shares of the company’s stock valued at $657,000 after purchasing an additional 77 shares in the last quarter. Pathstone Holdings LLC raised its holdings in Datadog by 0.4% in the third quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock valued at $2,664,000 after acquiring an additional 91 shares in the last quarter. GAMMA Investing LLC lifted its stake in Datadog by 19.5% in the third quarter. GAMMA Investing LLC now owns 563 shares of the company’s stock worth $65,000 after acquiring an additional 92 shares during the last quarter. HB Wealth Management LLC grew its holdings in Datadog by 5.2% during the 2nd quarter. HB Wealth Management LLC now owns 1,926 shares of the company’s stock worth $250,000 after acquiring an additional 95 shares in the last quarter. Finally, WR Wealth Planners LLC increased its position in shares of Datadog by 31.6% in the 2nd quarter. WR Wealth Planners LLC now owns 433 shares of the company’s stock valued at $56,000 after purchasing an additional 104 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Price Performance

NASDAQ:DDOG opened at $154.83 on Monday. The firm has a market cap of $52.60 billion, a price-to-earnings ratio of 292.14, a price-to-earnings-growth ratio of 18.83 and a beta of 1.10. Datadog, Inc. has a 1-year low of $98.80 and a 1-year high of $155.42. The firm’s fifty day moving average price is $124.21 and its 200 day moving average price is $120.05.

Insider Activity

In other news, Director Matthew Jacobson sold 9,256 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total value of $1,000,110.80. Following the completion of the sale, the director now directly owns 48,411 shares of the company’s stock, valued at $5,230,808.55. This trade represents a 16.05 % decrease in their position. The transaction was disclosed in a filing 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 on Tuesday, October 8th. The stock was 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 position. 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. Corporate insiders own 11.78% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on DDOG shares. Sanford C. Bernstein lowered their target price on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. Wedbush raised Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. DA Davidson raised 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. Rosenblatt Securities boosted their target price on Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. 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, one has assigned a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.