KBC Group NV Acquires 198,718 Shares of Datadog, Inc. (NASDAQ:DDOG)

KBC Group NV increased its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 199.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 298,225 shares of the company's stock after purchasing an additional 198,718 shares during the period. KBC Group NV owned approximately 0.09% of Datadog worth $42,614,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. True Wealth Design LLC grew its holdings in shares of Datadog by 12,000.0% in the third quarter. True Wealth Design LLC now owns 242 shares of the company's stock worth $28,000 after purchasing an additional 240 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new stake in Datadog in the fourth quarter worth $30,000. Avior Wealth Management LLC lifted its stake in Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock worth $32,000 after acquiring an additional 81 shares during the period. Meeder Asset Management Inc. lifted its stake in Datadog by 66.5% in the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company's stock worth $33,000 after acquiring an additional 115 shares during the period. Finally, Quarry LP purchased a new stake in Datadog in the third quarter worth $33,000. 78.29% of the stock is currently owned by institutional investors.

Datadog Stock Up 6.8 %

Shares of Datadog stock traded up $9.73 during trading hours on Tuesday, reaching $151.89. 7,922,004 shares of the stock traded hands, compared to its average volume of 3,835,163. The company has a 50 day moving average price of $147.68 and a 200 day moving average price of $129.02. The firm has a market capitalization of $51.60 billion, a price-to-earnings ratio of 286.59, a P/E/G ratio of 16.28 and a beta of 1.14. Datadog, Inc. has a one year low of $98.80 and a one year high of $170.08.

Insider Activity

In other news, President Amit Agarwal sold 150,000 shares of Datadog stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $126.03, for a total transaction of $18,904,500.00. Following the transaction, the president now directly owns 214,275 shares of the company's stock, valued at $27,005,078.25. The trade was a 41.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Olivier Pomel sold 178,723 shares of Datadog stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $161.28, for a total value of $28,824,445.44. Following the transaction, the chief executive officer now directly owns 379,693 shares in the company, valued at approximately $61,236,887.04. The trade was 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 642,679 shares of company stock valued at $92,155,421 in the last ninety days. Corporate insiders own 11.78% of the company's stock.

Wall Street Analyst Weigh In

DDOG has been the subject of several recent research reports. UBS Group reissued an "underperform" rating on shares of Datadog in a research report on Friday, October 18th. Morgan Stanley reissued an "equal weight" rating and set a $143.00 price objective on shares of Datadog in a research report on Thursday, January 16th. DA Davidson raised their price objective on Datadog from $140.00 to $150.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Robert W. Baird raised their price objective on Datadog from $140.00 to $150.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Finally, Citigroup raised their price objective on Datadog from $157.00 to $170.00 and gave the company a "buy" rating in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Datadog presently has an average rating of "Moderate Buy" and a consensus target price of $158.45.

About Datadog

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.