Holocene Advisors LP Increases Stake in Datadog, Inc. (NASDAQ:DDOG)

Holocene Advisors LP raised its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 205.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,632,870 shares of the company’s stock after acquiring an additional 1,097,815 shares during the quarter. Holocene Advisors LP owned approximately 0.48% of Datadog worth $187,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of DDOG. Benjamin Edwards Inc. grew its holdings in Datadog by 78,000.0% during the third quarter. Benjamin Edwards Inc. now owns 2,343 shares of the company’s stock valued at $270,000 after purchasing an additional 2,340 shares during the period. Atom Investors LP purchased a new position in shares of Datadog during the 3rd quarter valued at about $1,112,000. TOMS Capital Investment Management LP bought a new position in shares of Datadog during the 3rd quarter valued at approximately $1,922,000. Point72 Hong Kong Ltd purchased a new stake in Datadog in the 3rd quarter worth approximately $7,018,000. Finally, True Wealth Design LLC raised its stake in Datadog by 12,000.0% during the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after acquiring an additional 240 shares during the period. Institutional investors own 78.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DDOG. Royal Bank of Canada reiterated an “outperform” rating and issued a $151.00 price target on shares of Datadog in a research report on Friday, August 9th. Wedbush upgraded Datadog from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Citigroup boosted their price objective on Datadog from $150.00 to $157.00 and gave the company a “buy” rating in a research report on Friday, November 8th. TD Cowen reissued a “buy” rating and set a $165.00 target price on shares of Datadog in a research note on Tuesday, November 19th. Finally, Rosenblatt Securities upped their price target on Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $150.96.

Insider Activity

In other Datadog news, Director Matthew Jacobson sold 9,256 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total value of $1,000,110.80. Following the transaction, the director now directly owns 48,411 shares in the company, valued at $5,230,808.55. This represents a 16.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Sean Michael Walters sold 2,322 shares of Datadog stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $125.00, for a total transaction of $290,250.00. Following the sale, the executive now directly owns 183,512 shares of the company’s stock, valued at $22,939,000. This represents a 1.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 541,491 shares of company stock valued at $68,927,496. 11.78% of the stock is currently owned by company insiders.

Datadog Stock Performance

NASDAQ:DDOG opened at $152.75 on Monday. The firm has a market capitalization of $51.89 billion, a PE ratio of 288.21, a PEG ratio of 19.99 and a beta of 1.10. The stock’s fifty day moving average is $128.23 and its 200 day moving average is $121.31. Datadog, Inc. has a fifty-two week low of $98.80 and a fifty-two week high of $157.48.

Datadog 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.