Public Sector Pension Investment Board purchased a new stake in shares of Datadog, Inc. (NASDAQ:DDOG – Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 38,026 shares of the company’s stock, valued at approximately $5,415,000.
A number of other large investors have also added to or reduced their stakes in DDOG. Westside Investment Management Inc. raised its stake in shares of Datadog by 74.3% during the third quarter. Westside Investment Management Inc. now owns 176 shares of the company’s stock valued at $27,000 after acquiring an additional 75 shares during the last quarter. Nilsine Partners LLC raised its position in Datadog by 2.4% during the 3rd quarter. Nilsine Partners LLC now owns 3,396 shares of the company’s stock valued at $484,000 after purchasing an additional 78 shares during the last quarter. PDS Planning Inc lifted its holdings in Datadog by 4.2% in the 3rd quarter. PDS Planning Inc now owns 1,975 shares of the company’s stock worth $281,000 after buying an additional 80 shares during the period. Ameritas Investment Partners Inc. grew its position in shares of Datadog by 0.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,466 shares of the company’s stock worth $1,406,000 after buying an additional 82 shares during the last quarter. Finally, Prostatis Group LLC increased its stake in shares of Datadog by 4.6% during the third quarter. Prostatis Group LLC now owns 1,958 shares of the company’s stock valued at $279,000 after buying an additional 87 shares during the period. Institutional investors own 78.29% of the company’s stock.
Datadog Price Performance
Shares of NASDAQ DDOG opened at $120.60 on Friday. The company has a 50 day simple moving average of $129.88 and a two-hundred day simple moving average of $143.05. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $201.69. The company has a market capitalization of $42.29 billion, a price-to-earnings ratio of 389.03, a P/E/G ratio of 33.47 and a beta of 1.27. The company has a debt-to-equity ratio of 0.26, a quick ratio of 3.66 and a current ratio of 3.38.
Insider Activity
In other Datadog news, CEO Olivier Pomel sold 32,923 shares of Datadog stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $154.63, for a total value of $5,090,883.49. Following the completion of the transaction, the chief executive officer directly owned 518,133 shares of the company’s stock, valued at approximately $80,118,905.79. The trade was a 5.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Alexis Le-Quoc sold 53,912 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $154.05, for a total transaction of $8,305,143.60. Following the completion of the transaction, the chief technology officer owned 295,448 shares in the company, valued at approximately $45,513,764.40. This represents a 15.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 380,515 shares of company stock worth $55,760,478 over the last three months. 8.70% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
DDOG has been the subject of a number of research analyst reports. Wedbush dropped their price target on Datadog from $215.00 to $190.00 and set an “outperform” rating for the company in a research note on Wednesday, February 11th. Cantor Fitzgerald cut their target price on shares of Datadog from $220.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, February 6th. Piper Sandler reduced their price target on shares of Datadog from $225.00 to $195.00 and set an “overweight” rating on the stock in a research report on Monday, January 5th. Canaccord Genuity Group restated a “buy” rating on shares of Datadog in a report on Wednesday, February 11th. Finally, UBS Group set a $195.00 price objective on Datadog in a research report on Monday, February 9th. Thirty-six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $179.62.
Check Out Our Latest Report on DDOG
Datadog Profile
Datadog (NASDAQ: DDOG) is a cloud-based monitoring and observability platform that helps organizations monitor, troubleshoot and secure their applications and infrastructure at scale. Its software-as-a-service offering collects and analyzes metrics, traces and logs from servers, containers, cloud services and applications to provide real-time visibility into system performance and health. Datadog’s platform is widely used by engineering, operations and security teams to reduce downtime, accelerate incident response and improve application reliability.
The company’s product suite includes infrastructure monitoring, application performance monitoring (APM), log management, real user monitoring (RUM), synthetic monitoring and network performance monitoring, along with security-focused products such as security monitoring and cloud SIEM.
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