Lord Abbett & CO. LLC Has $5.57 Million Holdings in Datadog, Inc. (NASDAQ:DDOG)

Lord Abbett & CO. LLC trimmed its position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 99.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,422 shares of the company's stock after selling 8,108,029 shares during the period. Lord Abbett & CO. LLC's holdings in Datadog were worth $5,571,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Holocene Advisors LP increased its holdings in Datadog by 205.2% in the third quarter. Holocene Advisors LP now owns 1,632,870 shares of the company's stock valued at $187,878,000 after buying an additional 1,097,815 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in Datadog by 1,597.9% in the second 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. Champlain Investment Partners LLC bought a new stake in Datadog during the third quarter valued at $52,561,000. Eagle Asset Management Inc. raised its holdings in shares of Datadog by 72.4% during the third quarter. Eagle Asset Management Inc. now owns 914,776 shares of the company's stock worth $113,844,000 after purchasing an additional 384,121 shares during the period. Finally, Bank of Montreal Can lifted its position in shares of Datadog by 129.2% in the 2nd quarter. Bank of Montreal Can now owns 610,977 shares of the company's stock worth $79,384,000 after buying an additional 344,431 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company's stock.

Datadog Stock Up 0.7 %

NASDAQ:DDOG traded up $1.09 during trading hours on Tuesday, reaching $156.91. The company had a trading volume of 4,323,873 shares, compared to its average volume of 4,035,040. The stock has a 50-day moving average of $137.39 and a two-hundred day moving average of $124.17. Datadog, Inc. has a one year low of $98.80 and a one year high of $170.08. The firm has a market capitalization of $53.31 billion, a PE ratio of 296.38, a PEG ratio of 20.27 and a beta of 1.11.

Insider Buying and Selling at Datadog

In related news, General Counsel Kerry Acocella sold 2,488 shares of the business's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $158.04, for a total transaction of $393,203.52. Following the completion of the sale, the general counsel now directly owns 68,758 shares of the company's stock, valued at $10,866,514.32. The trade was a 3.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Olivier Pomel sold 178,723 shares of the firm's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $161.28, for a total value of $28,824,445.44. Following the completion of the transaction, the chief executive officer now owns 379,693 shares in the company, valued at $61,236,887.04. This represents a 32.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 713,446 shares of company stock worth $97,145,034 over the last ninety days. Corporate insiders own 11.78% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Barclays increased their target price on Datadog from $155.00 to $187.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. BNP Paribas assumed coverage on shares of Datadog in a report on Tuesday, October 8th. They issued an "outperform" rating and a $150.00 price target for the company. Sanford C. Bernstein cut their target price on Datadog from $157.00 to $151.00 and set an "outperform" rating on the stock in a research report on Monday, October 21st. DA Davidson upped their price target 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. Finally, Scotiabank lowered their price target on shares of Datadog from $135.00 to $133.00 and set a "sector outperform" rating on the stock in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $155.07.

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.