Rakuten Securities Inc. Sells 528 Shares of Datadog, Inc. (NASDAQ:DDOG)

Rakuten Securities Inc. lessened its stake in Datadog, Inc. (NASDAQ:DDOG) by 34.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,008 shares of the company’s stock after selling 528 shares during the quarter. Rakuten Securities Inc.’s holdings in Datadog were worth $116,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. SouthState Corp purchased a new stake in Datadog in the 2nd quarter valued at about $26,000. Blue Trust Inc. bought a new position in shares of Datadog in the second quarter valued at approximately $37,000. EverSource Wealth Advisors LLC increased its position in shares of Datadog by 70.2% during the first quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock valued at $39,000 after acquiring an additional 127 shares during the last quarter. American National Bank & Trust bought a new stake in Datadog during the third quarter worth $39,000. Finally, Versant Capital Management Inc boosted its position in Datadog by 216.5% in the second quarter. Versant Capital Management Inc now owns 307 shares of the company’s stock worth $40,000 after purchasing an additional 210 shares during the last quarter. Institutional investors own 78.29% of the company’s stock.

Datadog Trading Down 1.7 %

Shares of Datadog stock opened at $122.36 on Tuesday. Datadog, Inc. has a 12 month low of $98.80 and a 12 month high of $138.61. The firm has a market capitalization of $41.25 billion, a P/E ratio of 230.87, a P/E/G ratio of 22.72 and a beta of 1.10. The business has a fifty day simple moving average of $119.79 and a two-hundred day simple moving average of $119.46.

Insider Buying and Selling

In other Datadog news, Director Matthew Jacobson sold 9,256 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total value of $1,000,110.80. Following the sale, the director now owns 48,411 shares in the company, valued at approximately $5,230,808.55. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’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 transaction of $16,438,489.65. Following the completion of the sale, the chief technology officer now owns 336,165 shares of the company’s stock, valued at $43,476,219.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew Jacobson sold 9,256 shares of Datadog stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total value of $1,000,110.80. Following the completion of the sale, the director now directly owns 48,411 shares of the company’s stock, valued at approximately $5,230,808.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 317,186 shares of company stock worth $39,962,314 in the last three months. 11.78% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

DDOG has been the subject of several research reports. Robert W. Baird raised their price objective on shares of Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday. Wedbush upgraded shares of Datadog from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Monness Crespi & Hardt raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a report on Thursday, November 7th. BNP Paribas began coverage on Datadog in a report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price objective for the company. Finally, DA Davidson boosted their target price on Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday. One 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $150.96.

Datadog Company 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.