Datadog, Inc. (NASDAQ:DDOG) Shares Bought by Fred Alger Management LLC

Fred Alger Management LLC grew its holdings in Datadog, Inc. (NASDAQ:DDOG) by 8.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 104,813 shares of the company’s stock after acquiring an additional 8,073 shares during the quarter. Fred Alger Management LLC’s holdings in Datadog were worth $12,060,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in DDOG. SouthState Corp acquired a new stake in Datadog during the 2nd quarter worth approximately $26,000. Meeder Asset Management Inc. lifted its holdings in shares of Datadog by 66.5% during the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after purchasing an additional 115 shares during the period. Blue Trust Inc. purchased a new position in Datadog in the 2nd quarter valued at $37,000. EverSource Wealth Advisors LLC increased its stake in Datadog by 70.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock valued at $39,000 after buying an additional 127 shares during the period. Finally, American National Bank & Trust purchased a new position in Datadog during the 3rd quarter worth $39,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

Insider Buying and Selling

In related news, Director Matthew Jacobson sold 9,256 shares of the stock in a transaction dated 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 transaction, the director now directly owns 48,411 shares in the company, valued at approximately $5,230,808.55. This represents a 16.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO David M. Obstler sold 33,334 shares of Datadog stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 314,158 shares of the company’s stock, valued at $42,709,780.10. This trade represents a 9.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 541,491 shares of company stock worth $68,927,496. 11.78% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on DDOG shares. Citigroup boosted 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. BMO Capital Markets boosted their target price on Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Needham & Company LLC reduced their price target on Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a report on Friday, August 9th. BNP Paribas began coverage on Datadog in a report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price objective on the stock. Finally, Scotiabank reduced their target price on Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. One research 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, Datadog presently has an average rating of “Moderate Buy” and a consensus target price of $150.96.

Datadog Price Performance

Datadog stock opened at $152.75 on Friday. The firm’s 50-day moving average is $128.23 and its two-hundred day moving average is $121.26. The stock has a market capitalization of $51.89 billion, a P/E ratio of 288.21, a P/E/G ratio of 19.89 and a beta of 1.10. Datadog, Inc. has a 12-month low of $98.80 and a 12-month high of $157.48.

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.