USA Financial Formulas Makes New $1.22 Million Investment in Datadog, Inc. (NASDAQ:DDOG)

USA Financial Formulas acquired a new position in Datadog, Inc. (NASDAQ:DDOG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,504 shares of the company’s stock, valued at approximately $1,215,000.

Several other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC boosted its stake in 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 in the last quarter. Meeder Asset Management Inc. lifted its stake in shares of Datadog by 66.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after acquiring an additional 115 shares during the last quarter. Quarry LP purchased a new position in Datadog in the 3rd quarter worth approximately $33,000. Kieckhefer Group LLC purchased a new stake in shares of Datadog during the fourth quarter valued at approximately $43,000. Finally, American National Bank & Trust purchased a new stake in Datadog during the 3rd quarter valued at $39,000. 78.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on DDOG shares. Morgan Stanley restated an “equal weight” rating and issued a $143.00 price objective on shares of Datadog in a research report on Thursday. Scotiabank reduced their price target on Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. Monness Crespi & Hardt raised Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a research report on Thursday, November 7th. Jefferies Financial Group lifted their price objective on Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Royal Bank of Canada boosted their target price on Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Datadog presently has an average rating of “Moderate Buy” and a consensus target price of $156.97.

Datadog Price Performance

Datadog stock opened at $140.95 on Thursday. The firm’s 50 day moving average price is $145.36 and its 200-day moving average price is $128.42. Datadog, Inc. has a 1 year low of $98.80 and a 1 year high of $170.08. The stock has a market cap of $47.88 billion, a P/E ratio of 265.95, a PEG ratio of 19.82 and a beta of 1.14.

Insider Buying and Selling at Datadog

In other Datadog news, Director Amit Agarwal sold 25,000 shares of Datadog stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $141.12, for a total value of $3,528,000.00. Following the completion of the transaction, the director now directly owns 195,667 shares of the company’s stock, valued at $27,612,527.04. This trade represents a 11.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Olivier Pomel sold 178,723 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $161.28, for a total value of $28,824,445.44. Following the sale, the chief executive officer now owns 379,693 shares in the company, valued at approximately $61,236,887.04. This trade represents a 32.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 609,763 shares of company stock worth $87,543,649 in the last quarter. 11.78% of the stock is owned by corporate insiders.

About Datadog

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.