Dynamic Technology Lab Private Ltd Invests $780,000 in Datadog, Inc. (NASDAQ:DDOG)

Dynamic Technology Lab Private Ltd purchased a new stake in shares of Datadog, Inc. (NASDAQ:DDOG) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 6,781 shares of the company’s stock, valued at approximately $780,000.

A number of other institutional investors also recently bought and sold shares of the stock. SouthState Corp purchased a new position in shares of Datadog during the 2nd quarter worth approximately $26,000. Meeder Asset Management Inc. boosted its position in shares of Datadog by 66.5% during 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 in the last quarter. Blue Trust Inc. purchased a new stake in Datadog in the second quarter worth $37,000. EverSource Wealth Advisors LLC raised its holdings in 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 purchasing an additional 127 shares in the last quarter. Finally, American National Bank & Trust purchased a new position in Datadog during the third quarter valued at $39,000. 78.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Needham & Company LLC reduced their target price 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. UBS Group restated an “underperform” rating on shares of Datadog in a report on Friday, October 18th. Citigroup lifted their target price on shares of Datadog from $150.00 to $157.00 and gave the company a “buy” rating in a report on Friday, November 8th. Monness Crespi & Hardt raised Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a research report on Thursday, November 7th. Finally, Rosenblatt Securities raised their price objective on Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One equities 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $150.96.

Datadog Stock Performance

Datadog stock opened at $151.96 on Thursday. The stock has a market cap of $51.62 billion, a PE ratio of 286.72, a price-to-earnings-growth ratio of 20.50 and a beta of 1.10. The stock has a fifty day moving average of $126.74 and a 200 day moving average of $120.81. Datadog, Inc. has a one year low of $98.80 and a one year high of $157.48.

Insider Activity

In other news, Director Matthew Jacobson sold 9,256 shares of Datadog stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the transaction, the director now owns 48,411 shares in the company, valued at $5,230,808.55. This trade represents a 16.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Shardul Shah sold 15,832 shares of the business’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $120.02, for a total transaction of $1,900,156.64. Following the sale, the director now directly owns 459,449 shares of the company’s stock, valued at approximately $55,143,068.98. The trade was a 3.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 541,491 shares of company stock valued at $68,927,496 in the last quarter. 11.78% of the stock is currently owned by insiders.

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.