Geode Capital Management LLC Increases Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Geode Capital Management LLC raised its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 2.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,185,557 shares of the company’s stock after acquiring an additional 125,457 shares during the quarter. Geode Capital Management LLC owned approximately 1.54% of Datadog worth $595,438,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DDOG. SouthState Corp purchased a new position in shares of Datadog in the second quarter worth $26,000. True Wealth Design LLC raised its stake in shares of Datadog by 12,000.0% in the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after buying an additional 240 shares during the period. Meeder Asset Management Inc. lifted its holdings in Datadog by 66.5% during the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after purchasing an additional 115 shares in the last quarter. Quarry LP purchased a new position in shares of Datadog in the third quarter valued at about $33,000. Finally, Blue Trust Inc. bought a new stake in shares of Datadog during the second quarter valued at approximately $37,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Insider Activity

In other Datadog news, CEO Olivier Pomel sold 178,723 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the completion of the transaction, the chief executive officer now owns 379,693 shares of the company’s stock, valued at $61,236,887.04. This represents a 32.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Kerry Acocella sold 2,488 shares of Datadog stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $158.04, for a total transaction of $393,203.52. Following the sale, the general counsel now directly owns 68,758 shares in the company, valued at approximately $10,866,514.32. This trade represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 713,446 shares of company stock worth $97,145,034 in the last ninety days. Company insiders own 11.78% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on DDOG. Truist Financial increased their price target on Datadog from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday. DA Davidson boosted their target price on Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, November 8th. BMO Capital Markets lifted their price objective on shares of Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Wedbush raised Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, Monness Crespi & Hardt raised shares of 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $154.52.

Datadog Trading Up 0.2 %

Datadog stock opened at $156.73 on Friday. Datadog, Inc. has a 12 month low of $98.80 and a 12 month high of $170.08. The stock’s 50 day simple moving average is $135.33 and its two-hundred day simple moving average is $123.44. The firm has a market cap of $53.24 billion, a PE ratio of 295.72, a P/E/G ratio of 21.85 and a beta of 1.11.

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.