Kovack Advisors Inc. Buys 179 Shares of Datadog, Inc. (NASDAQ:DDOG)

Kovack Advisors Inc. increased its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 3.9% in the third quarter, HoldingsChannel reports. The firm owned 4,799 shares of the company’s stock after purchasing an additional 179 shares during the period. Kovack Advisors Inc.’s holdings in Datadog were worth $552,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in DDOG. Kodai Capital Management LP bought a new position in shares of Datadog in the 1st quarter valued at about $116,054,000. DNB Asset Management AS increased its stake in Datadog by 1,974.5% in the second quarter. DNB Asset Management AS now owns 847,600 shares of the company’s stock valued at $109,925,000 after acquiring an additional 806,741 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in Datadog by 1,597.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company’s stock worth $101,841,000 after purchasing an additional 739,011 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Datadog by 129.2% in the second quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock worth $79,384,000 after acquiring an additional 344,431 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Datadog by 9.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock worth $511,620,000 after buying an additional 331,808 shares in the last quarter. Institutional investors own 78.29% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. BMO Capital Markets upped their target price on Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Rosenblatt Securities increased their price objective on Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Sanford C. Bernstein decreased their target price on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. TD Cowen lifted their target price on shares of Datadog from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Citigroup lifted their target price on shares of Datadog from $150.00 to $157.00 and gave the company a “buy” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $150.96.

Datadog Stock Up 2.3 %

Shares of DDOG stock opened at $131.43 on Friday. The stock has a market cap of $44.31 billion, a P/E ratio of 247.98, a PEG ratio of 18.45 and a beta of 1.10. Datadog, Inc. has a 52 week low of $98.80 and a 52 week high of $138.61. The company’s fifty day simple moving average is $120.42 and its two-hundred day simple moving average is $119.46.

Insider Activity

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction 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 sale, the chief technology officer now owns 336,165 shares in the company, valued at $43,476,219.45. This represents a 27.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matthew Jacobson sold 9,256 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were 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 directly owns 48,411 shares in the company, valued at approximately $5,230,808.55. The trade was a 16.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 320,579 shares of company stock worth $40,386,541. 11.78% of the stock is currently owned by corporate 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.