Bouvel Investment Partners LLC Invests $2.27 Million in Datadog, Inc. (NASDAQ:DDOG)

Bouvel Investment Partners LLC bought a new position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 19,766 shares of the company's stock, valued at approximately $2,274,000.

A number of other institutional investors have also modified their holdings of the business. Illinois Municipal Retirement Fund acquired a new stake in Datadog in the first quarter valued at about $593,000. QRG Capital Management Inc. grew its stake in shares of Datadog by 3.1% during the 1st quarter. QRG Capital Management Inc. now owns 7,899 shares of the company's stock worth $976,000 after purchasing an additional 234 shares during the period. Avantax Advisory Services Inc. grew its stake in shares of Datadog by 36.2% during the 1st quarter. Avantax Advisory Services Inc. now owns 6,442 shares of the company's stock worth $796,000 after purchasing an additional 1,713 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Datadog by 19.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 204,116 shares of the company's stock valued at $25,229,000 after purchasing an additional 32,538 shares in the last quarter. Finally, Midwest Professional Planners LTD. lifted its stake in shares of Datadog by 13.3% in the first quarter. Midwest Professional Planners LTD. now owns 2,707 shares of the company's stock valued at $335,000 after purchasing an additional 318 shares during the period. 78.29% of the stock is owned by institutional investors and hedge funds.

Datadog Trading Up 3.4 %

DDOG traded up $4.34 during trading on Thursday, hitting $132.79. 1,965,448 shares of the company's stock were exchanged, compared to its average volume of 3,829,024. The firm has a market cap of $44.77 billion, a P/E ratio of 242.36, a price-to-earnings-growth ratio of 18.45 and a beta of 1.10. The stock has a 50 day moving average price of $120.42 and a 200 day moving average price of $119.46. Datadog, Inc. has a 1 year low of $98.80 and a 1 year high of $138.61.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Barclays boosted their price target on Datadog from $140.00 to $155.00 and gave the stock an "overweight" rating in a research note on Friday, November 8th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $151.00 target price on shares of Datadog in a research note on Friday, August 9th. Rosenblatt Securities increased their target price on Datadog from $140.00 to $148.00 and gave the company a "buy" rating in a report on Friday, November 8th. BNP Paribas started coverage on Datadog in a research report on Tuesday, October 8th. They issued an "outperform" rating and a $150.00 price objective on the stock. Finally, Monness Crespi & Hardt upgraded Datadog from a "neutral" rating to a "buy" rating and set a $155.00 price objective for the company in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Datadog has an average rating of "Moderate Buy" and an average target price of $150.96.

Insider Activity at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the company's stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $129.33, for a total value 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CTO Alexis Le-Quoc sold 127,105 shares of the company's stock in a transaction on Monday, October 14th. The shares were sold at an average price of $129.33, for a total value of $16,438,489.65. Following the completion of the transaction, the chief technology officer now directly owns 336,165 shares in the company, valued at approximately $43,476,219.45. 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. 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 transaction of $1,000,110.80. Following the sale, the director now directly owns 48,411 shares in the company, valued at $5,230,808.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 320,579 shares of company stock worth $40,386,541. Corporate insiders own 11.78% of the company's stock.

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.