GLOBALT Investments LLC GA Takes $581,000 Position in Datadog, Inc. (NASDAQ:DDOG)

GLOBALT Investments LLC GA purchased a new stake in shares of Datadog, Inc. (NASDAQ:DDOG) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,053 shares of the company’s stock, valued at approximately $581,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Baader Bank Aktiengesellschaft increased its position in Datadog by 1.5% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 5,077 shares of the company’s stock worth $657,000 after purchasing an additional 77 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Datadog by 19.5% in the 3rd quarter. GAMMA Investing LLC now owns 563 shares of the company’s stock worth $65,000 after purchasing an additional 92 shares during the last quarter. HB Wealth Management LLC grew its holdings in Datadog by 5.2% during the second quarter. HB Wealth Management LLC now owns 1,926 shares of the company’s stock valued at $250,000 after purchasing an additional 95 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of Datadog by 1.2% in the first quarter. Ameritas Investment Partners Inc. now owns 8,867 shares of the company’s stock worth $1,096,000 after buying an additional 103 shares during the last quarter. Finally, WR Wealth Planners LLC grew its position in shares of Datadog by 31.6% in the second quarter. WR Wealth Planners LLC now owns 433 shares of the company’s stock valued at $56,000 after purchasing an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Price Performance

Datadog stock opened at $125.97 on Tuesday. The company has a market cap of $42.79 billion, a price-to-earnings ratio of 237.68, a P/E/G ratio of 18.85 and a beta of 1.10. The firm has a 50-day moving average of $121.59 and a 200-day moving average of $119.44. Datadog, Inc. has a one year low of $98.80 and a one year high of $138.61.

Insider Buying and Selling

In other news, General Counsel Kerry Acocella sold 2,452 shares of Datadog stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $120.06, for a total value of $294,387.12. Following the completion of the transaction, the general counsel now owns 74,421 shares of the company’s stock, valued at $8,934,985.26. This trade represents a 3.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Matthew Jacobson sold 3,393 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $125.03, for a total transaction of $424,226.79. Following the completion of the sale, the director now directly owns 695,086 shares in the company, valued at approximately $86,906,602.58. The trade was a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 320,579 shares of company stock worth $40,386,541. Corporate insiders own 11.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Barclays increased their price objective on Datadog from $140.00 to $155.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Monness Crespi & Hardt upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a research note on Thursday, November 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $150.00 target price on shares of Datadog in a research report on Monday, July 22nd. BTIG Research raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 target price on the stock in a research note on Thursday, August 1st. Finally, Robert W. Baird upped their price target on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. One equities research 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 given a strong buy rating to the company. According to MarketBeat.com, the company 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.