Parnassus Investments LLC Purchases 40,952 Shares of Datadog, Inc. (NASDAQ:DDOG)

Parnassus Investments LLC increased its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 28.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 185,329 shares of the company's stock after buying an additional 40,952 shares during the period. Parnassus Investments LLC owned 0.05% of Datadog worth $21,324,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in DDOG. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Datadog in the third quarter worth about $1,081,000. Meeder Asset Management Inc. grew its position in shares of Datadog by 66.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company's stock worth $33,000 after buying an additional 115 shares during the period. Pathstone Holdings LLC grew its holdings in Datadog by 0.4% during the third quarter. Pathstone Holdings LLC now owns 23,152 shares of the company's stock valued at $2,664,000 after purchasing an additional 91 shares during the period. Meeder Advisory Services Inc. increased its position in shares of Datadog by 40.1% in the 3rd quarter. Meeder Advisory Services Inc. now owns 5,026 shares of the company's stock valued at $578,000 after buying an additional 1,439 shares in the last quarter. Finally, GLOBALT Investments LLC GA acquired a new stake in Datadog during the 3rd quarter worth approximately $581,000. Institutional investors own 78.29% of the company's stock.

Insider Transactions at Datadog

In related news, Director Matthew Jacobson sold 9,256 shares of Datadog stock in a transaction dated 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 of the company's stock, valued at $5,230,808.55. This trade represents a 16.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm's stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $129.33, for a total transaction of $16,438,489.65. Following the transaction, the chief technology officer now directly owns 336,165 shares of the company's stock, valued at $43,476,219.45. This represents a 27.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 470,579 shares of company stock valued at $59,291,041. Corporate insiders own 11.78% of the company's stock.

Datadog Price Performance

NASDAQ:DDOG traded up $7.44 during trading hours on Tuesday, hitting $133.41. The company had a trading volume of 6,250,252 shares, compared to its average volume of 3,858,826. The stock has a 50-day moving average price of $121.59 and a 200 day moving average price of $119.44. Datadog, Inc. has a 52 week low of $98.80 and a 52 week high of $138.61. The company has a market capitalization of $45.32 billion, a PE ratio of 243.42, a price-to-earnings-growth ratio of 18.85 and a beta of 1.10.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Rosenblatt Securities lifted their price objective on shares of Datadog from $140.00 to $148.00 and gave the company a "buy" rating in a report on Friday, November 8th. Barclays lifted their target price on Datadog from $140.00 to $155.00 and gave the stock an "overweight" rating in a research note on Friday, November 8th. Sanford C. Bernstein lowered their price target on shares of 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, DA Davidson boosted their price target on Datadog from $140.00 to $150.00 and gave the company a "buy" rating in a research note on Friday, November 8th. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.