Quantinno Capital Management LP Raises Position in Datadog, Inc. (NASDAQ:DDOG)

Quantinno Capital Management LP raised its holdings in Datadog, Inc. (NASDAQ:DDOG) by 12.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 22,435 shares of the company’s stock after acquiring an additional 2,410 shares during the quarter. Quantinno Capital Management LP’s holdings in Datadog were worth $2,581,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. SouthState Corp purchased a new stake in shares of Datadog during the 2nd quarter worth $26,000. True Wealth Design LLC lifted its position in shares of 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 purchasing an additional 240 shares during the last quarter. Meeder Asset Management Inc. lifted its position in shares of Datadog by 66.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after purchasing an additional 115 shares during the last quarter. Quarry LP purchased a new stake in shares of Datadog during the 3rd quarter worth $33,000. Finally, Blue Trust Inc. purchased a new stake in shares of Datadog during the 2nd quarter worth $37,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Kerry Acocella sold 2,488 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $158.04, for a total transaction of $393,203.52. Following the transaction, the general counsel now owns 68,758 shares of the company’s stock, valued at approximately $10,866,514.32. This represents a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Amit Agarwal sold 150,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $126.03, for a total transaction of $18,904,500.00. Following the transaction, the president now directly owns 214,275 shares in the company, valued at $27,005,078.25. The trade was a 41.18 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 534,723 shares of company stock valued at $68,320,589. Corporate insiders own 11.78% of the company’s stock.

Datadog Trading Down 3.9 %

DDOG stock opened at $154.91 on Wednesday. The company has a market cap of $52.63 billion, a P/E ratio of 292.28, a P/E/G ratio of 21.85 and a beta of 1.11. Datadog, Inc. has a 52 week low of $98.80 and a 52 week high of $170.08. The company’s 50-day moving average price is $133.71 and its 200 day moving average price is $122.99.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. DA Davidson lifted their price target on shares of Datadog from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Barclays lifted their price target on shares of Datadog from $155.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Robert W. Baird lifted their price target on shares of Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Scotiabank cut their price target on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 8th. Finally, TD Cowen reiterated a “buy” rating and set a $165.00 price target on shares of Datadog in a research note on Tuesday, November 19th. One 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 stock. According to MarketBeat.com, Datadog has a consensus rating of “Moderate Buy” and a consensus price target of $152.19.

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.