Datadog, Inc. (NASDAQ:DDOG) Shares Sold by Adero Partners LLC

Adero Partners LLC cut its position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 5.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 237,532 shares of the company's stock after selling 13,040 shares during the period. Datadog makes up about 1.8% of Adero Partners LLC's portfolio, making the stock its 14th biggest holding. Adero Partners LLC owned about 0.07% of Datadog worth $27,330,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. SouthState Corp bought a new stake in Datadog during the second quarter worth approximately $26,000. Blue Trust Inc. bought a new stake in shares of Datadog during the second quarter worth $37,000. EverSource Wealth Advisors LLC grew its holdings in shares of Datadog by 70.2% in the first quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company's stock worth $39,000 after purchasing an additional 127 shares during the last quarter. American National Bank & Trust bought a new stake in Datadog during the 3rd quarter valued at about $39,000. Finally, Versant Capital Management Inc boosted its position in Datadog by 216.5% in the 2nd quarter. Versant Capital Management Inc now owns 307 shares of the company's stock valued at $40,000 after buying an additional 210 shares during the period. Hedge funds and other institutional investors own 78.29% of the company's stock.

Insider Transactions at Datadog

In other news, CRO Sean Michael Walters sold 2,322 shares of the company's stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $125.00, for a total value of $290,250.00. Following the transaction, the executive now owns 183,512 shares of the company's stock, valued at $22,939,000. This represents a 1.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Matthew Jacobson sold 9,256 shares of the stock in a transaction dated 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 transaction, the director now directly owns 48,411 shares of the company's stock, valued at approximately $5,230,808.55. This trade represents a 16.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 320,579 shares of company stock worth $40,386,541 in the last ninety days. Insiders own 11.78% of the company's stock.

Wall Street Analysts Forecast Growth

DDOG has been the topic of several research analyst reports. Monness Crespi & Hardt raised Datadog from a "neutral" rating to a "buy" rating and set a $155.00 price objective on the stock in a research note on Thursday, November 7th. Rosenblatt Securities increased their target price on shares of Datadog from $140.00 to $148.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Royal Bank of Canada restated an "outperform" rating and issued a $151.00 price target on shares of Datadog in a report on Friday, August 9th. BNP Paribas assumed coverage on shares of Datadog in a research note on Tuesday, October 8th. They set an "outperform" rating and a $150.00 price objective on the stock. Finally, BMO Capital Markets boosted their price objective on shares of Datadog from $135.00 to $145.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $150.96.

Datadog Stock Performance

Shares of NASDAQ:DDOG traded down $5.34 during midday trading on Friday, hitting $126.09. The company's stock had a trading volume of 5,777,739 shares, compared to its average volume of 4,240,143. The company has a market cap of $42.84 billion, a P/E ratio of 237.91, a price-to-earnings-growth ratio of 18.85 and a beta of 1.10. Datadog, Inc. has a 12-month low of $98.80 and a 12-month high of $138.61. The business's 50 day simple moving average is $121.23 and its 200 day simple moving average is $119.48.

Datadog 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.