Ashton Thomas Private Wealth LLC Has $394,000 Position in Datadog, Inc. (NASDAQ:DDOG)

Ashton Thomas Private Wealth LLC trimmed its position in Datadog, Inc. (NASDAQ:DDOG) by 9.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,420 shares of the company’s stock after selling 376 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Datadog were worth $394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of DDOG. SouthState Corp bought a new position in Datadog during the second quarter worth about $26,000. Blue Trust Inc. acquired a new stake in shares of Datadog in the second quarter valued at approximately $37,000. Versant Capital Management Inc boosted its stake in shares of Datadog by 216.5% in the second quarter. Versant Capital Management Inc now owns 307 shares of the company’s stock valued at $40,000 after buying an additional 210 shares during the period. EverSource Wealth Advisors LLC grew its position in Datadog by 70.2% during the first quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock worth $39,000 after buying an additional 127 shares in the last quarter. Finally, ORG Partners LLC bought a new position in Datadog during the 2nd quarter worth $43,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on DDOG. Citigroup increased their target price on Datadog from $150.00 to $157.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Wedbush raised shares of Datadog from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. BMO Capital Markets upped their price target on shares of Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Monness Crespi & Hardt raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a research note on Thursday, November 7th. Finally, Robert W. Baird upped their target price on Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Datadog presently has an average rating of “Moderate Buy” and an average price target of $150.96.

Datadog Stock Performance

NASDAQ:DDOG opened at $131.43 on Friday. Datadog, Inc. has a 52 week low of $98.80 and a 52 week high of $138.61. The firm has a 50-day moving average price of $120.42 and a two-hundred day moving average price of $119.46. The firm has a market cap of $44.31 billion, a price-to-earnings ratio of 247.98, a price-to-earnings-growth ratio of 18.45 and a beta of 1.10.

Insider Activity at Datadog

In other news, Director Matthew Jacobson sold 3,393 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 695,086 shares of the company’s stock, valued at $86,906,602.58. This represents a 0.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $129.33, for a total value of $16,438,489.65. Following the completion of the transaction, the chief technology officer now owns 336,165 shares in the company, valued at approximately $43,476,219.45. The trade was a 27.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 320,579 shares of company stock valued at $40,386,541. 11.78% of the stock is owned by insiders.

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.