Healthcare of Ontario Pension Plan Trust Fund Invests $8.82 Million in Datadog, Inc. (NASDAQ:DDOG)

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Datadog, Inc. (NASDAQ:DDOG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 76,625 shares of the company’s stock, valued at approximately $8,816,000.

A number of other large investors also recently added to or reduced their stakes in DDOG. SouthState Corp purchased a new position in shares of Datadog in the second quarter worth $26,000. Meeder Asset Management Inc. lifted its stake in Datadog by 66.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after purchasing an additional 115 shares in the last quarter. Blue Trust Inc. purchased a new stake in Datadog during the second quarter valued at $37,000. EverSource Wealth Advisors LLC increased its holdings in shares of Datadog by 70.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock worth $39,000 after buying an additional 127 shares during the last quarter. Finally, American National Bank & Trust purchased a new stake in shares of Datadog during the 3rd quarter valued at about $39,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CRO Sean Michael Walters sold 2,322 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $125.00, for a total transaction of $290,250.00. Following the completion of the transaction, the executive now directly owns 183,512 shares of the company’s stock, valued at approximately $22,939,000. This represents a 1.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew Jacobson sold 9,256 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was 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 directly owns 48,411 shares in the company, valued at approximately $5,230,808.55. This trade represents a 16.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 541,491 shares of company stock worth $68,927,496 over the last ninety days. Corporate insiders own 11.78% of the company’s stock.

Analyst Upgrades and Downgrades

DDOG has been the subject of several analyst reports. TD Cowen reaffirmed a “buy” rating and issued a $165.00 price objective on shares of Datadog in a research note on Tuesday, November 19th. Rosenblatt Securities lifted their price objective on shares of Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Needham & Company LLC decreased their price target on Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, August 9th. BMO Capital Markets raised their price target on shares of Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, BNP Paribas initiated coverage on Datadog in a report on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 target price for the company. One 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 assigned a strong buy rating to the stock. According to MarketBeat.com, Datadog currently has an average rating of “Moderate Buy” and an average price target of $150.96.

Datadog Trading Up 0.5 %

NASDAQ:DDOG opened at $152.75 on Friday. The firm’s fifty day simple moving average is $128.23 and its 200 day simple moving average is $121.26. The firm has a market capitalization of $51.89 billion, a price-to-earnings ratio of 288.21, a PEG ratio of 19.89 and a beta of 1.10. Datadog, Inc. has a twelve month low of $98.80 and a twelve month high of $157.48.

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.