Freedom Investment Management Inc. Invests $419,000 in Datadog, Inc. (NASDAQ:DDOG)

Freedom Investment Management Inc. purchased a new stake in Datadog, Inc. (NASDAQ:DDOG) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,640 shares of the company’s stock, valued at approximately $419,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of DDOG. Los Angeles Capital Management LLC raised its holdings in shares of Datadog by 172.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock valued at $4,469,000 after purchasing an additional 24,574 shares in the last quarter. Heritage Investors Management Corp purchased a new position in Datadog during the third quarter valued at approximately $1,157,000. Jennison Associates LLC raised its stake in Datadog by 2.1% in the third quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock worth $721,811,000 after buying an additional 126,613 shares in the last quarter. Parnassus Investments LLC lifted its holdings in Datadog by 28.4% during the third quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock worth $21,324,000 after buying an additional 40,952 shares during the period. Finally, Bank of Montreal Can boosted its position in Datadog by 129.2% during the 2nd quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock valued at $79,384,000 after acquiring an additional 344,431 shares in the last quarter. Institutional investors own 78.29% of the company’s stock.

Datadog Price Performance

NASDAQ DDOG opened at $152.75 on Friday. The company has a fifty day moving average of $128.23 and a 200 day moving average of $121.29. The company has a market capitalization of $51.89 billion, a PE ratio of 288.21, a P/E/G ratio of 19.89 and a beta of 1.10. Datadog, Inc. has a 1 year low of $98.80 and a 1 year high of $157.48.

Insider Activity

In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $122.61, for a total value of $10,499,952.57. Following the completion of the transaction, the chief executive officer now directly owns 392,111 shares of the company’s stock, valued at approximately $48,076,729.71. The trade was a 17.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $129.33, for a total transaction of $16,438,489.65. Following the sale, the chief technology officer now directly owns 336,165 shares in the company, valued at $43,476,219.45. The trade was a 27.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 541,491 shares of company stock valued at $68,927,496 in the last quarter. 11.78% of the stock is currently owned by company insiders.

Analyst Ratings Changes

DDOG has been the subject of a number of analyst reports. Needham & Company LLC decreased their price objective on Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, August 9th. BNP Paribas started coverage on shares of Datadog in a research report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price target for the company. Wedbush upgraded shares of Datadog from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Monness Crespi & Hardt raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a research report on Thursday, November 7th. Finally, Robert W. Baird lifted their price target on shares of Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. One 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 company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.