Datadog, Inc. (NASDAQ:DDOG) Shares Bought by Empowered Funds LLC

Empowered Funds LLC grew its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 218.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,247 shares of the company's stock after buying an additional 35,844 shares during the period. Empowered Funds LLC's holdings in Datadog were worth $6,012,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. SouthState Corp acquired a new stake in Datadog during the second quarter worth about $26,000. Blue Trust Inc. acquired a new stake in Datadog during the second quarter worth about $37,000. EverSource Wealth Advisors LLC increased its position in Datadog by 70.2% during 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 acquired a new stake in Datadog during the third quarter worth about $39,000. Finally, Versant Capital Management Inc increased its position in Datadog by 216.5% during the second quarter. Versant Capital Management Inc now owns 307 shares of the company's stock worth $40,000 after purchasing an additional 210 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Price Performance

Shares of NASDAQ:DDOG traded down $5.34 during trading on Friday, hitting $126.09. 5,777,739 shares of the company were exchanged, compared to its average volume of 4,240,143. The firm's 50 day moving average price is $121.23 and its 200-day moving average price is $119.44. The stock has a market capitalization of $42.84 billion, a P/E ratio of 237.91, a PEG 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.

Analysts Set New Price Targets

A number of brokerages have weighed in on DDOG. DA Davidson lifted 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. Wedbush upgraded shares of Datadog from a "buy" rating to a "strong-buy" rating in a research report on Thursday, October 17th. BMO Capital Markets raised their price objective on shares of Datadog from $135.00 to $145.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Robert W. Baird raised their price objective on shares of Datadog from $140.00 to $150.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Finally, TD Cowen raised their price objective on shares of Datadog from $160.00 to $165.00 and gave the company a "buy" rating in a research note on Friday, November 8th. One investment 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 given a strong buy rating to the company's stock. According to data from MarketBeat.com, Datadog has an average rating of "Moderate Buy" and a consensus price target of $150.96.

Insider Activity

In other news, Director Shardul Shah sold 7,916 shares of Datadog stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $126.67, for a total value of $1,002,719.72. Following the transaction, the director now directly owns 451,533 shares of the company's stock, valued at $57,195,685.11. The trade was a 1.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Matthew Jacobson sold 9,256 shares of the business's stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the completion of the transaction, the director now directly owns 48,411 shares in the company, valued at $5,230,808.55. This represents a 16.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 320,579 shares of company stock valued at $40,386,541 in the last ninety days. 11.78% of the stock is currently owned by company insiders.

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.