True Wealth Design LLC Increases Position in Datadog, Inc. (NASDAQ:DDOG)

True Wealth Design LLC increased its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 12,000.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 242 shares of the company’s stock after acquiring an additional 240 shares during the period. True Wealth Design LLC’s holdings in Datadog were worth $28,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans raised its position in Datadog by 1,597.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company’s stock worth $101,841,000 after buying an additional 739,011 shares during the last quarter. Champlain Investment Partners LLC purchased a new position in Datadog during the third quarter worth about $52,561,000. Eagle Asset Management Inc. lifted its position in Datadog by 72.4% in the third quarter. Eagle Asset Management Inc. now owns 914,776 shares of the company’s stock valued at $113,844,000 after purchasing an additional 384,121 shares during the period. Bank of Montreal Can boosted its holdings in Datadog by 129.2% in the 2nd quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock valued at $79,384,000 after purchasing an additional 344,431 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Datadog by 9.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock worth $511,620,000 after purchasing an additional 331,808 shares during the period. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Stock Up 0.1 %

DDOG stock opened at $152.88 on Tuesday. The company has a market cap of $51.94 billion, a price-to-earnings ratio of 288.45, a PEG ratio of 19.99 and a beta of 1.10. The business has a fifty day simple moving average of $128.23 and a 200-day simple moving average of $121.31. Datadog, Inc. has a 52 week low of $98.80 and a 52 week high of $157.48.

Insider Buying and Selling at Datadog

In other news, Director Shardul Shah sold 15,832 shares of the business’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $120.02, for a total transaction of $1,900,156.64. Following the completion of the sale, the director now owns 459,449 shares in the company, valued at approximately $55,143,068.98. The trade was a 3.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David M. Obstler sold 33,334 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $135.95, for a total transaction of $4,531,757.30. Following the completion of the transaction, the chief financial officer now owns 314,158 shares in the company, valued at $42,709,780.10. The trade was a 9.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 541,491 shares of company stock valued at $68,927,496. Company insiders own 11.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Wedbush raised Datadog from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. UBS Group reissued an “underperform” rating on shares of Datadog in a report on Friday, October 18th. Rosenblatt Securities upped their price target 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. Monness Crespi & Hardt upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a research note on Thursday, November 7th. Finally, Citigroup boosted their price objective on shares of Datadog from $150.00 to $157.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.