Two Sigma Advisers LP Sells 229,500 Shares of Datadog, Inc. (NASDAQ:DDOG)

Two Sigma Advisers LP lowered its stake in Datadog, Inc. (NASDAQ:DDOG) by 49.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 230,072 shares of the company’s stock after selling 229,500 shares during the period. Two Sigma Advisers LP owned 0.07% of Datadog worth $26,472,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. SouthState Corp bought a new stake in shares of Datadog during the 2nd quarter valued at about $26,000. True Wealth Design LLC lifted its holdings in Datadog by 12,000.0% in the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after buying an additional 240 shares during the period. Meeder Asset Management Inc. boosted its position in Datadog by 66.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after acquiring an additional 115 shares in the last quarter. Quarry LP purchased a new position in shares of Datadog during the 3rd quarter worth approximately $33,000. Finally, Blue Trust Inc. bought a new position in shares of Datadog in the 2nd quarter worth approximately $37,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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, 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 completion of the sale, the executive now owns 183,512 shares of the company’s stock, valued at $22,939,000. This trade represents a 1.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 543,979 shares of company stock valued at $69,320,699 over the last 90 days. Company insiders own 11.78% of the company’s stock.

Datadog Trading Up 3.2 %

Shares of DDOG opened at $168.65 on Friday. The firm has a fifty day simple moving average of $132.79 and a two-hundred day simple moving average of $122.71. The firm has a market cap of $57.29 billion, a PE ratio of 318.21, a P/E/G ratio of 21.49 and a beta of 1.11. Datadog, Inc. has a 1-year low of $98.80 and a 1-year high of $170.08.

Analysts Set New Price Targets

DDOG has been the topic of several recent research reports. BMO Capital Markets upped their price target on Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Rosenblatt Securities upped their target price on shares of Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Wedbush upgraded shares of Datadog from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Robert W. Baird boosted their price objective on shares of Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, BNP Paribas started coverage on shares of Datadog in a research note on Tuesday, October 8th. They set an “outperform” rating and a $150.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $152.19.

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.