6,781 Shares in Datadog, Inc. (NASDAQ:DDOG) Acquired by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd bought a new position in shares of Datadog, Inc. (NASDAQ:DDOG) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,781 shares of the company’s stock, valued at approximately $780,000.

Several other large investors have also added to or reduced their stakes in the company. Los Angeles Capital Management LLC raised its position in shares of Datadog by 172.2% during 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 during the period. Heritage Investors Management Corp purchased a new stake in Datadog in the 3rd quarter worth $1,157,000. Jennison Associates LLC raised its holdings in Datadog by 2.1% during the third quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock valued at $721,811,000 after acquiring an additional 126,613 shares during the period. Parnassus Investments LLC lifted its position in shares of Datadog by 28.4% in the third quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock valued at $21,324,000 after acquiring an additional 40,952 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Datadog by 129.2% in the second quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock worth $79,384,000 after acquiring an additional 344,431 shares during the period. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on DDOG. Rosenblatt Securities lifted their target price on Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Barclays lifted their target price on Datadog from $140.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $151.00 price target on shares of Datadog in a research note on Friday, August 9th. BNP Paribas began coverage on Datadog in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 price objective for the company. Finally, Wedbush upgraded shares of Datadog from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.96.

Insider Buying and Selling at Datadog

In other Datadog news, CEO Olivier Pomel sold 85,637 shares of Datadog stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $122.61, for a total transaction of $10,499,952.57. Following the completion of the sale, the chief executive officer now 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Matthew Jacobson sold 9,256 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the director now owns 48,411 shares in the company, valued at approximately $5,230,808.55. This represents a 16.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 541,491 shares of company stock worth $68,927,496 over the last three months. Corporate insiders own 11.78% of the company’s stock.

Datadog Stock Performance

NASDAQ:DDOG opened at $151.96 on Thursday. The stock has a market capitalization of $51.62 billion, a P/E ratio of 286.72, a P/E/G ratio of 20.50 and a beta of 1.10. The company’s 50-day simple moving average is $126.74 and its 200-day simple moving average is $120.81. Datadog, Inc. has a fifty-two week low of $98.80 and a fifty-two week high of $157.48.

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.