Swedbank AB Increases Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Swedbank AB lifted its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 3.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 110,712 shares of the company’s stock after buying an additional 3,483 shares during the quarter. Swedbank AB’s holdings in Datadog were worth $12,739,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Jennison Associates LLC raised its stake in Datadog by 2.1% during the 3rd quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock worth $721,811,000 after acquiring an additional 126,613 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Datadog by 9.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock worth $511,620,000 after purchasing an additional 331,808 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in shares of Datadog by 5.9% during the second quarter. 1832 Asset Management L.P. now owns 2,486,600 shares of the company’s stock worth $322,487,000 after purchasing an additional 138,700 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Datadog by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,176,577 shares of the company’s stock worth $135,377,000 after purchasing an additional 29,404 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Datadog by 19.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,068,070 shares of the company’s stock valued at $138,518,000 after purchasing an additional 172,887 shares during the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Wall Street Analyst Weigh In

DDOG has been the topic of a number of research reports. Robert W. Baird raised their price target on Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Wedbush raised Datadog from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. BNP Paribas started coverage on Datadog in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 target price on the stock. Scotiabank cut their price target on Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Friday, November 8th. Finally, DA Davidson lifted their price objective on shares of Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $150.96.

Insider Activity at Datadog

In other Datadog news, CEO Olivier Pomel sold 85,637 shares of Datadog 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 sale, the chief executive officer now directly owns 392,111 shares of the company’s stock, valued at approximately $48,076,729.71. The trade was a 17.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew Jacobson sold 9,256 shares of the 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 transaction, the director now directly owns 48,411 shares in the company, valued at approximately $5,230,808.55. This represents a 16.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 541,491 shares of company stock valued at $68,927,496. 11.78% of the stock is owned by insiders.

Datadog Stock Down 1.4 %

Shares of NASDAQ:DDOG opened at $154.39 on Wednesday. The company has a market capitalization of $52.45 billion, a P/E ratio of 291.31, a P/E/G ratio of 20.27 and a beta of 1.10. Datadog, Inc. has a 52-week low of $98.80 and a 52-week high of $157.48. The stock’s fifty day simple moving average is $125.97 and its 200-day simple moving average is $120.59.

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.