MML Investors Services LLC Acquires 3,539 Shares of Datadog, Inc. (NASDAQ:DDOG)

MML Investors Services LLC raised its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 6.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,206 shares of the company's stock after acquiring an additional 3,539 shares during the quarter. MML Investors Services LLC's holdings in Datadog were worth $7,042,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Jennison Associates LLC increased its position in Datadog by 2.1% in the 3rd quarter. Jennison Associates LLC now owns 6,273,348 shares of the company's stock valued at $721,811,000 after acquiring an additional 126,613 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Datadog by 9.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company's stock valued at $511,620,000 after acquiring an additional 331,808 shares in the last quarter. 1832 Asset Management L.P. increased its position in Datadog by 5.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,486,600 shares of the company's stock valued at $322,487,000 after acquiring an additional 138,700 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Datadog by 2.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,024,926 shares of the company's stock valued at $232,988,000 after acquiring an additional 46,746 shares in the last quarter. Finally, Holocene Advisors LP increased its position in Datadog by 205.2% in the 3rd quarter. Holocene Advisors LP now owns 1,632,870 shares of the company's stock valued at $187,878,000 after acquiring an additional 1,097,815 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company's stock.

Insider Transactions at Datadog

In other Datadog news, CEO Olivier Pomel sold 178,723 shares of the company's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the sale, the chief executive officer now directly owns 379,693 shares of the company's stock, valued at approximately $61,236,887.04. This represents a 32.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Amit Agarwal sold 150,000 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $126.03, for a total transaction of $18,904,500.00. Following the completion of the sale, the president now owns 214,275 shares of the company's stock, valued at approximately $27,005,078.25. This represents a 41.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 713,446 shares of company stock worth $97,145,034 in the last three months. Insiders own 11.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DDOG. Rosenblatt Securities raised their target price on shares of Datadog from $140.00 to $148.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Scotiabank reduced their target price on shares of Datadog from $135.00 to $133.00 and set a "sector outperform" rating on the stock in a research note on Friday, November 8th. Truist Financial raised their target price on shares of Datadog from $155.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday. UBS Group reaffirmed an "underperform" rating on shares of Datadog in a research note on Friday, October 18th. Finally, Macquarie assumed coverage on shares of Datadog in a research note on Thursday. They issued an "outperform" rating and a $200.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $154.52.

Datadog Stock Up 0.2 %

DDOG traded up $0.25 during trading hours on Thursday, hitting $156.73. 3,222,265 shares of the company's stock were exchanged, compared to its average volume of 4,036,385. The stock has a market cap of $53.24 billion, a price-to-earnings ratio of 293.85, a PEG ratio of 21.85 and a beta of 1.11. Datadog, Inc. has a 1-year low of $98.80 and a 1-year high of $170.08. The stock's 50-day moving average is $135.33 and its two-hundred day moving average is $123.44.

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.