ICICI Prudential Asset Management Co Ltd Raises Stock Position in Datadog, Inc. (NASDAQ:DDOG)

ICICI Prudential Asset Management Co Ltd lifted its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 19.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,061 shares of the company’s stock after acquiring an additional 673 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in Datadog were worth $467,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Illinois Municipal Retirement Fund acquired a new stake in Datadog in the 1st quarter valued at about $593,000. QRG Capital Management Inc. grew its position in shares of Datadog by 3.1% in the first quarter. QRG Capital Management Inc. now owns 7,899 shares of the company’s stock valued at $976,000 after purchasing an additional 234 shares during the last quarter. Avantax Advisory Services Inc. grew its position in shares of Datadog by 36.2% in the first quarter. Avantax Advisory Services Inc. now owns 6,442 shares of the company’s stock valued at $796,000 after purchasing an additional 1,713 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Datadog by 19.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 204,116 shares of the company’s stock worth $25,229,000 after purchasing an additional 32,538 shares in the last quarter. Finally, Midwest Professional Planners LTD. raised its position in shares of Datadog by 13.3% during the 1st quarter. Midwest Professional Planners LTD. now owns 2,707 shares of the company’s stock worth $335,000 after purchasing an additional 318 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on DDOG shares. TD Cowen increased their target price on Datadog from $160.00 to $165.00 and gave the company a “buy” rating in a report on Friday, November 8th. Scotiabank decreased their price objective on Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 8th. UBS Group reiterated an “underperform” rating on shares of Datadog in a research report on Friday, October 18th. BTIG Research upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 target price on the stock in a report on Thursday, August 1st. Finally, Monness Crespi & Hardt upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $150.96.

Insider Transactions at Datadog

In other news, Director Matthew Jacobson sold 9,256 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the completion of the transaction, the director now directly owns 48,411 shares in the company, valued at approximately $5,230,808.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Datadog news, Director Shardul Shah sold 15,832 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $120.02, for a total transaction of $1,900,156.64. Following the transaction, the director now owns 459,449 shares of the company’s stock, valued at $55,143,068.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Matthew Jacobson sold 9,256 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were 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 owns 48,411 shares of the company’s stock, valued at $5,230,808.55. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 320,579 shares of company stock valued at $40,386,541. 11.78% of the stock is currently owned by insiders.

Datadog Price Performance

Datadog stock opened at $128.45 on Thursday. The firm’s fifty day moving average price is $120.03 and its 200 day moving average price is $119.40. The company has a market capitalization of $43.31 billion, a price-to-earnings ratio of 242.36, a price-to-earnings-growth ratio of 18.45 and a beta of 1.10. Datadog, Inc. has a 12-month low of $98.80 and a 12-month high of $138.61.

Datadog Company 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.