Datadog, Inc. (NASDAQ:DDOG) Shares Sold by ING Groep NV

ING Groep NV lowered its position in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 46.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,720 shares of the company's stock after selling 18,652 shares during the quarter. ING Groep NV's holdings in Datadog were worth $2,499,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kodai Capital Management LP purchased a new stake in shares of Datadog during the first quarter worth approximately $116,054,000. DNB Asset Management AS raised its stake in shares of Datadog by 1,974.5% during the second quarter. DNB Asset Management AS now owns 847,600 shares of the company's stock worth $109,925,000 after purchasing an additional 806,741 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Datadog by 1,597.9% during 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 last quarter. Bank of Montreal Can raised its stake in shares of Datadog by 129.2% during the second quarter. Bank of Montreal Can now owns 610,977 shares of the company's stock worth $79,384,000 after purchasing an additional 344,431 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Datadog by 9.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company's stock worth $511,620,000 after purchasing an additional 331,808 shares during the last quarter. Hedge funds and other institutional investors own 78.29% of the company's stock.

Datadog Trading Down 4.1 %

Shares of Datadog stock traded down $5.34 during trading hours on Friday, reaching $126.09. The stock had a trading volume of 5,777,739 shares, compared to its average volume of 4,240,143. The firm has a 50 day simple moving average of $121.23 and a two-hundred day simple moving average of $119.48. The firm has a market capitalization of $42.84 billion, a price-to-earnings ratio of 237.91, a P/E/G ratio of 18.85 and a beta of 1.10. Datadog, Inc. has a 1 year low of $98.80 and a 1 year high of $138.61.

Insider Transactions at Datadog

In other news, General Counsel Kerry Acocella sold 2,452 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $120.06, for a total value of $294,387.12. Following the completion of the sale, the general counsel now owns 74,421 shares in the company, valued at approximately $8,934,985.26. This trade represents a 3.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew Jacobson sold 3,393 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $125.03, for a total value of $424,226.79. Following the completion of the sale, the director now owns 695,086 shares of the company's stock, valued at approximately $86,906,602.58. This trade represents a 0.49 % 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 three months. 11.78% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DDOG. DA Davidson upped their price objective on Datadog from $140.00 to $150.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Needham & Company LLC dropped their price objective on Datadog from $165.00 to $140.00 and set a "buy" rating on the stock in a report on Friday, August 9th. Sanford C. Bernstein dropped their price objective on Datadog from $157.00 to $151.00 and set an "outperform" rating on the stock in a report on Monday, October 21st. Wedbush raised Datadog from a "buy" rating to a "strong-buy" rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $151.00 price objective on shares of Datadog in a report on Friday, August 9th. One 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 given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $150.96.

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.