Datadog, Inc. (NASDAQ:DDOG) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 12.2% during the third quarter, Holdings Channel reports. The fund owned 46,321 shares of the company’s stock after selling 6,408 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Datadog were worth $5,330,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SouthState Corp acquired a new stake in shares of Datadog during the second quarter worth $26,000. Meeder Asset Management Inc. grew its holdings in Datadog by 66.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after buying an additional 115 shares during the period. Blue Trust Inc. purchased a new stake in Datadog in the 2nd quarter valued at about $37,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Datadog by 70.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock worth $39,000 after acquiring an additional 127 shares during the period. Finally, American National Bank & Trust acquired a new stake in shares of Datadog in the third quarter worth approximately $39,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

Datadog Price Performance

DDOG opened at $152.88 on Tuesday. Datadog, Inc. has a 12-month low of $98.80 and a 12-month high of $157.48. The stock has a market capitalization of $51.94 billion, a PE ratio of 288.45, a P/E/G ratio of 19.99 and a beta of 1.10. The firm’s fifty day moving average price is $128.23 and its 200 day moving average price is $121.31.

Insider Activity

In other news, Director Matthew Jacobson sold 9,256 shares of the business’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. The trade was a 16.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Shardul Shah sold 15,832 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $120.02, for a total value of $1,900,156.64. Following the transaction, the director now owns 459,449 shares in the company, valued at $55,143,068.98. This trade represents a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 541,491 shares of company stock worth $68,927,496. 11.78% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on DDOG shares. TD Cowen reaffirmed a “buy” rating and set a $165.00 price target on shares of Datadog in a research note on Tuesday, November 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $151.00 target price on shares of Datadog in a report on Friday, August 9th. UBS Group restated an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. BMO Capital Markets lifted their price objective on Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Needham & Company LLC dropped their target price on shares of Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, August 9th. One investment 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Datadog currently has an average rating of “Moderate Buy” and a consensus price target of $150.96.

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.