Principal Financial Group Inc. cut its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 8.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 131,545 shares of the company's stock after selling 12,118 shares during the period. Principal Financial Group Inc.'s holdings in Datadog were worth $15,136,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Holocene Advisors LP lifted its position in shares of Datadog by 205.2% during the third quarter. Holocene Advisors LP now owns 1,632,870 shares of the company's stock worth $187,878,000 after purchasing an additional 1,097,815 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in Datadog by 1,597.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company's stock worth $101,841,000 after buying an additional 739,011 shares in the last quarter. Champlain Investment Partners LLC purchased a new position in Datadog in the 3rd quarter valued at about $52,561,000. Eagle Asset Management Inc. grew its stake in shares of Datadog by 72.4% during the third quarter. Eagle Asset Management Inc. now owns 914,776 shares of the company's stock valued at $113,844,000 after acquiring an additional 384,121 shares in the last quarter. Finally, Bank of Montreal Can grew 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 valued at $79,384,000 after acquiring an additional 344,431 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company's stock.
Insider Activity
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 value of $290,250.00. Following the transaction, the executive now owns 183,512 shares in the company, valued at approximately $22,939,000. This represents a 1.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Shardul Shah sold 15,832 shares of the firm's stock in a transaction on Friday, October 4th. The shares were sold at an average price of $120.02, for a total transaction of $1,900,156.64. Following the transaction, the director now owns 459,449 shares in the company, valued at $55,143,068.98. This represents a 3.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 740,588 shares of company stock worth $101,329,606 over the last 90 days. 11.78% of the stock is owned by company insiders.
Datadog Stock Performance
Shares of NASDAQ:DDOG traded down $1.57 during midday trading on Friday, reaching $145.99. The company had a trading volume of 1,942,266 shares, compared to its average volume of 4,021,525. Datadog, Inc. has a 1-year low of $98.80 and a 1-year high of $170.08. The firm has a market cap of $49.60 billion, a price-to-earnings ratio of 275.46, a price-to-earnings-growth ratio of 20.27 and a beta of 1.11. The company has a fifty day simple moving average of $141.32 and a two-hundred day simple moving average of $126.49.
Analyst Ratings Changes
A number of research analysts recently commented on the company. Citigroup increased their price target on Datadog from $150.00 to $157.00 and gave the company a "buy" rating in a report on Friday, November 8th. Loop Capital boosted their price objective on Datadog from $160.00 to $200.00 and gave the company a "buy" rating in a report on Monday, December 23rd. BNP Paribas assumed coverage on Datadog in a report on Tuesday, October 8th. They set an "outperform" rating and a $150.00 target price on the stock. BMO Capital Markets upped their price target on Datadog from $135.00 to $145.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Finally, Robert W. Baird raised their price target on shares of Datadog from $140.00 to $150.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $157.04.
Check Out Our Latest Research Report on DDOG
About Datadog
(
Free Report)
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.
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