GLOBALT Investments LLC GA Takes Position in Datadog, Inc. (NASDAQ:DDOG)

GLOBALT Investments LLC GA acquired a new stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,053 shares of the company's stock, valued at approximately $581,000.

Other institutional investors have also added to or reduced their stakes in the company. SouthState Corp purchased a new position in shares of Datadog during the second quarter valued at about $26,000. Blue Trust Inc. purchased a new stake in shares of Datadog in the second quarter worth $37,000. Versant Capital Management Inc increased its stake in shares of Datadog by 216.5% in 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 in the last quarter. EverSource Wealth Advisors LLC lifted its position in Datadog by 70.2% during the first quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company's stock valued at $39,000 after purchasing an additional 127 shares during the last quarter. Finally, ORG Partners LLC bought a new position in Datadog during the second quarter valued at $43,000. 78.29% of the stock is owned by institutional investors.

Insider Transactions at Datadog

In related news, CRO Sean Michael Walters sold 2,322 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $125.00, for a total transaction of $290,250.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Kerry Acocella sold 2,452 shares of the stock in a transaction on Friday, October 4th. The shares were sold at an average price of $120.06, for a total value of $294,387.12. Following the completion of the transaction, the general counsel now owns 74,421 shares of the company's stock, valued at $8,934,985.26. The trade was a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders 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 Stock Up 5.9 %

Shares of Datadog stock traded up $7.44 during trading on Tuesday, reaching $133.41. 5,959,177 shares of the company were exchanged, compared to its average volume of 3,858,826. Datadog, Inc. has a twelve month low of $98.80 and a twelve month high of $138.61. The firm has a market capitalization of $45.32 billion, a price-to-earnings ratio of 243.42, a P/E/G ratio of 18.85 and a beta of 1.10. The business has a 50-day moving average price of $121.59 and a 200-day moving average price of $119.44.

Analyst Ratings Changes

DDOG has been the subject of several research reports. TD Cowen reiterated a "buy" rating and set a $165.00 price objective on shares of Datadog in a research report on Tuesday. Scotiabank lowered their target price on shares of Datadog from $135.00 to $133.00 and set a "sector outperform" rating for the company in a research note on Friday, November 8th. DA Davidson boosted their price target on shares of Datadog from $140.00 to $150.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Wedbush raised shares of Datadog from a "buy" rating to a "strong-buy" rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $151.00 price target on shares of Datadog in a research note on Friday, August 9th. One 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 given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average 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.