Congress Asset Management Co. grew its stake in shares of Datadog, Inc. (NASDAQ:DDOG – Free Report) by 3.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 268,825 shares of the company’s stock after buying an additional 7,802 shares during the period. Congress Asset Management Co. owned 0.07% of Datadog worth $71,350,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Janus Henderson Group PLC boosted its holdings in Datadog by 22.8% in the first quarter. Janus Henderson Group PLC now owns 7,749,569 shares of the company’s stock valued at $905,570,000 after acquiring an additional 1,439,082 shares during the last quarter. First Trust Advisors LP increased its stake in Datadog by 81.5% during the first quarter. First Trust Advisors LP now owns 3,685,562 shares of the company’s stock worth $435,081,000 after acquiring an additional 1,654,429 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Datadog by 30.3% in the 1st quarter. Bank of New York Mellon Corp now owns 2,645,827 shares of the company’s stock worth $312,340,000 after purchasing an additional 615,090 shares during the period. Employees Provident Fund Board purchased a new position in shares of Datadog in the 4th quarter worth about $251,582,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Datadog by 162.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,571,018 shares of the company’s stock valued at $185,459,000 after purchasing an additional 971,910 shares in the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.
Datadog Stock Up 0.7%
Shares of DDOG stock traded up $1.82 on Tuesday, hitting $278.24. The stock had a trading volume of 1,755,508 shares, compared to its average volume of 5,252,355. The stock’s 50 day moving average is $245.02 and its 200-day moving average is $213.50. The firm has a market capitalization of $99.91 billion, a price-to-earnings ratio of 567.85, a P/E/G ratio of 27.05 and a beta of 1.51. Datadog, Inc. has a 52-week low of $98.01 and a 52-week high of $292.72. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.20 and a current ratio of 3.20.
Wall Street Analysts Forecast Growth
DDOG has been the subject of a number of research reports. Benchmark reiterated a “buy” rating on shares of Datadog in a report on Tuesday, July 28th. Evercore lifted their price target on shares of Datadog from $225.00 to $265.00 and gave the company an “outperform” rating in a research report on Wednesday, June 10th. Arete Research boosted their price objective on shares of Datadog from $260.00 to $340.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. Bank of America increased their price objective on shares of Datadog from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Finally, KeyCorp lifted their target price on shares of Datadog from $225.00 to $320.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $277.73.
Insider Activity
In other Datadog news, CEO Olivier Pomel sold 127,141 shares of Datadog stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $286.71, for a total transaction of $36,452,596.11. Following the sale, the chief executive officer directly owned 612,747 shares in the company, valued at $175,680,692.37. The trade was a 17.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Alexis Le-Quoc sold 53,912 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $253.36, for a total value of $13,659,144.32. Following the completion of the transaction, the chief technology officer directly owned 509,805 shares in the company, valued at approximately $129,164,194.80. The trade was a 9.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 1,011,988 shares of company stock worth $245,906,996. Insiders own 6.48% of the company’s stock.
Datadog Profile
Datadog, Inc is a software company that provides a cloud-based monitoring, observability and security platform. Its services help organizations collect, analyze and visualize data from applications, infrastructure, networks, databases and other technology environments, enabling them to identify performance issues, manage incidents and improve digital services.
The company’s product offerings include infrastructure monitoring, application performance monitoring, log management, database and network monitoring, real user and synthetic experience monitoring, cloud security, software supply chain security, incident management and workflow automation.
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