Datadog, Inc. (NASDAQ:DDOG) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its position in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 8.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,545 shares of the company's stock after selling 12,118 shares during the period. Principal Financial Group Inc.'s holdings in Datadog were worth $15,136,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of DDOG. Kodai Capital Management LP purchased a new stake in Datadog during the first quarter worth approximately $116,054,000. DNB Asset Management AS lifted its holdings in shares of Datadog by 1,974.5% during the 2nd quarter. DNB Asset Management AS now owns 847,600 shares of the company's stock valued at $109,925,000 after acquiring an additional 806,741 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in Datadog by 1,597.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company's stock worth $101,841,000 after purchasing an additional 739,011 shares during the period. Bank of Montreal Can increased its holdings in Datadog by 129.2% in the 2nd quarter. Bank of Montreal Can now owns 610,977 shares of the company's stock valued at $79,384,000 after purchasing an additional 344,431 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Datadog by 9.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company's stock valued at $511,620,000 after purchasing an additional 331,808 shares during the period. Hedge funds and other institutional investors own 78.29% of the company's stock.

Insiders Place Their Bets

In related news, CEO Olivier Pomel sold 85,637 shares of the firm's stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $122.61, for a total value of $10,499,952.57. Following the sale, the chief executive officer now directly owns 392,111 shares in the company, valued at $48,076,729.71. This trade represents a 17.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matthew Jacobson sold 9,256 shares of the business's 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 owns 48,411 shares of the company's stock, valued at $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 320,579 shares of company stock valued at $40,386,541 over the last three months. Company insiders own 11.78% of the company's stock.

Datadog Price Performance

Shares of NASDAQ DDOG traded down $5.34 during mid-day trading on Friday, hitting $126.09. The company had a trading volume of 5,777,739 shares, compared to its average volume of 3,852,884. Datadog, Inc. has a 12 month low of $98.80 and a 12 month high of $138.61. The stock has a market cap of $42.51 billion, a price-to-earnings ratio of 237.91, a PEG ratio of 19.20 and a beta of 1.10. The firm's 50 day simple moving average is $121.23 and its two-hundred day simple moving average is $119.53.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on DDOG. Sanford C. Bernstein decreased their target price on Datadog from $157.00 to $151.00 and set an "outperform" rating for the company in a research report on Monday, October 21st. 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. Monness Crespi & Hardt upgraded shares of 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. BNP Paribas initiated coverage on shares of Datadog in a research note on Tuesday, October 8th. They issued an "outperform" rating and a $150.00 target price for the company. Finally, DA Davidson raised their price target on shares of Datadog from $140.00 to $150.00 and gave the company a "buy" rating in a report on Friday, November 8th. One equities 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 data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.