Integrated Wealth Concepts LLC Has $890,000 Position in Datadog, Inc. (NASDAQ:DDOG)

Integrated Wealth Concepts LLC cut its stake in Datadog, Inc. (NASDAQ:DDOG) by 5.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,735 shares of the company’s stock after selling 458 shares during the period. Integrated Wealth Concepts LLC’s holdings in Datadog were worth $890,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. SouthState Corp acquired a new position in Datadog in the second quarter valued at about $26,000. True Wealth Design LLC increased its holdings in Datadog by 12,000.0% in the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after buying an additional 240 shares during the period. Meeder Asset Management Inc. raised its position in shares of Datadog by 66.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after buying an additional 115 shares in the last quarter. Blue Trust Inc. bought a new stake in shares of Datadog during the 2nd quarter worth approximately $37,000. Finally, American National Bank & Trust acquired a new stake in shares of Datadog during the 3rd quarter worth approximately $39,000. 78.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on DDOG shares. Barclays boosted their price target on Datadog from $155.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday. BNP Paribas started coverage on Datadog in a research note on Tuesday, October 8th. They set an “outperform” rating and a $150.00 target price for the company. DA Davidson raised their price target on shares of Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Sanford C. Bernstein decreased their price target on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. Finally, Rosenblatt Securities raised their target price on shares of Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $152.19.

Datadog Price Performance

Shares of Datadog stock opened at $161.19 on Tuesday. The stock’s 50-day moving average is $133.71 and its 200 day moving average is $122.99. Datadog, Inc. has a one year low of $98.80 and a one year high of $170.08. The firm has a market cap of $54.76 billion, a price-to-earnings ratio of 304.13, a PEG ratio of 21.85 and a beta of 1.11.

Insider Buying and Selling at Datadog

In other Datadog news, Director Shardul Shah sold 15,832 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $120.02, for a total value of $1,900,156.64. Following the completion of the sale, the director now owns 459,449 shares of the company’s stock, valued at approximately $55,143,068.98. This trade represents a 3.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Matthew Jacobson sold 9,256 shares of the business’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 sale, the director now owns 48,411 shares of the company’s stock, 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. Over the last three months, insiders have sold 543,979 shares of company stock valued at $69,320,699. 11.78% of the stock is currently owned by company insiders.

About Datadog

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.