Massachusetts Financial Services Co. MA Sells 94,093 Shares of Datadog, Inc. (NASDAQ:DDOG)

Massachusetts Financial Services Co. MA reduced its position in Datadog, Inc. (NASDAQ:DDOG) by 2.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,850,850 shares of the company’s stock after selling 94,093 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Datadog were worth $443,079,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in DDOG. Jennison Associates LLC raised its position 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 acquiring an additional 126,613 shares during the period. 1832 Asset Management L.P. lifted its stake in Datadog by 5.9% in the second quarter. 1832 Asset Management L.P. now owns 2,486,600 shares of the company’s stock worth $322,487,000 after purchasing an additional 138,700 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Datadog by 19.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,068,070 shares of the company’s stock valued at $138,518,000 after buying an additional 172,887 shares during the last quarter. Kodai Capital Management LP purchased a new position in shares of Datadog during the first quarter valued at approximately $116,054,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Datadog by 0.8% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 886,221 shares of the company’s stock valued at $101,969,000 after purchasing an additional 7,339 shares in the last quarter. 78.29% of the stock is owned by institutional investors.

Insider Transactions at Datadog

In related news, CRO Sean Michael Walters sold 2,322 shares of the company’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $125.00, for a total value of $290,250.00. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matthew Jacobson sold 9,256 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the completion of the sale, the director now owns 48,411 shares of the company’s stock, valued at $5,230,808.55. This trade represents a 16.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 470,579 shares of company stock valued at $59,291,041 in the last three months. 11.78% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. BMO Capital Markets raised their price objective on shares of Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. 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. BNP Paribas initiated coverage on shares of Datadog in a report on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 target price for the company. Monness Crespi & Hardt raised Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a research note on Thursday, November 7th. Finally, Citigroup increased their price target on Datadog from $150.00 to $157.00 and gave the company a “buy” rating in a research note 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $150.96.

Datadog Trading Up 6.2 %

NASDAQ:DDOG opened at $143.92 on Friday. Datadog, Inc. has a 12 month low of $98.80 and a 12 month high of $145.55. The company has a market capitalization of $48.89 billion, a P/E ratio of 271.54, a PEG ratio of 17.46 and a beta of 1.10. The firm has a fifty day simple moving average of $123.30 and a 200-day simple moving average of $119.78.

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.