Algert Global LLC Has $4.75 Million Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Algert Global LLC boosted its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 832.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,299 shares of the company’s stock after acquiring an additional 36,872 shares during the period. Algert Global LLC’s holdings in Datadog were worth $4,752,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in DDOG. SouthState Corp bought a new stake in Datadog in the second quarter valued at $26,000. Meeder Asset Management Inc. grew its holdings in shares of Datadog by 66.5% in 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. Blue Trust Inc. acquired a new stake in shares of Datadog during the 2nd quarter worth about $37,000. EverSource Wealth Advisors LLC lifted its holdings in Datadog by 70.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock valued at $39,000 after purchasing an additional 127 shares during the last quarter. Finally, American National Bank & Trust acquired a new position in Datadog in the third quarter valued at about $39,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Scotiabank dropped their price objective on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. Sanford C. Bernstein dropped their price target on Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Monday, October 21st. BMO Capital Markets boosted their price objective on Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Monness Crespi & Hardt upgraded Datadog from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a research note on Thursday, November 7th. Finally, Robert W. Baird lifted their price target on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Datadog presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.96.

Insiders Place Their Bets

In other news, CRO Sean Michael Walters sold 4,244 shares of Datadog stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $135.00, for a total transaction of $572,940.00. Following the transaction, the executive now owns 179,367 shares in the company, valued at $24,214,545. The trade was a 2.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $122.61, for a total value of $10,499,952.57. Following the completion of the transaction, the chief executive officer now owns 392,111 shares of the company’s stock, valued at $48,076,729.71. This represents a 17.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 541,491 shares of company stock worth $68,927,496. Company insiders own 11.78% of the company’s stock.

Datadog Price Performance

Datadog stock opened at $154.83 on Monday. The firm has a market capitalization of $52.60 billion, a price-to-earnings ratio of 292.14, a PEG ratio of 18.83 and a beta of 1.10. The company’s 50 day simple moving average is $124.21 and its 200 day simple moving average is $120.05. Datadog, Inc. has a fifty-two week low of $98.80 and a fifty-two week high of $155.42.

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.