Datadog, Inc. (NASDAQ:DDOG) Shares Bought by Soros Fund Management LLC

Soros Fund Management LLC lifted its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 24.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 168,090 shares of the company’s stock after purchasing an additional 32,700 shares during the quarter. Soros Fund Management LLC’s holdings in Datadog were worth $19,340,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of DDOG. Holocene Advisors LP raised its position in Datadog by 205.2% in the third quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock worth $187,878,000 after acquiring an additional 1,097,815 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Datadog by 1,597.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company’s stock valued at $101,841,000 after purchasing an additional 739,011 shares in the last quarter. Champlain Investment Partners LLC purchased a new position in Datadog in the third quarter valued at about $52,561,000. Eagle Asset Management Inc. boosted its position in Datadog by 72.4% during the third quarter. Eagle Asset Management Inc. now owns 914,776 shares of the company’s stock worth $113,844,000 after purchasing an additional 384,121 shares in the last quarter. Finally, Bank of Montreal Can raised its position in Datadog by 129.2% during the second quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock worth $79,384,000 after acquiring an additional 344,431 shares during the last quarter. 78.29% of the stock is owned by institutional investors and hedge funds.

Datadog Price Performance

NASDAQ:DDOG opened at $163.35 on Friday. Datadog, Inc. has a 12-month low of $98.80 and a 12-month high of $166.08. The business has a 50 day simple moving average of $131.70 and a 200 day simple moving average of $122.38. The firm has a market capitalization of $55.49 billion, a P/E ratio of 308.21, a P/E/G ratio of 20.08 and a beta of 1.11.

Insider Activity

In other news, Director Matthew Jacobson sold 9,256 shares of the stock in a transaction 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 sale, the director now owns 48,411 shares in the company, valued at approximately $5,230,808.55. This represents a 16.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction on Monday, October 14th. The stock was sold at an average price of $129.33, for a total value of $16,438,489.65. Following the completion of the transaction, the chief technology officer now owns 336,165 shares in the company, valued at $43,476,219.45. The trade was a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 541,491 shares of company stock valued at $68,927,496. 11.78% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on DDOG shares. Barclays raised their price target on Datadog from $140.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Citigroup boosted their price objective on shares of Datadog from $150.00 to $157.00 and gave the company a “buy” rating in a research report on Friday, November 8th. BNP Paribas initiated coverage on shares of Datadog in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 target price for the company. Rosenblatt Securities increased their target price on Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, BMO Capital Markets lifted their price target on shares of Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Datadog has an average rating of “Moderate Buy” and a consensus target price of $150.96.

About Datadog

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.