Swedbank AB Has $17.55 Million Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Swedbank AB raised its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 10.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 122,825 shares of the company's stock after purchasing an additional 12,113 shares during the quarter. Swedbank AB's holdings in Datadog were worth $17,550,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in DDOG. Los Angeles Capital Management LLC raised its stake in shares of Datadog by 172.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company's stock valued at $4,469,000 after acquiring an additional 24,574 shares during the period. Heritage Investors Management Corp acquired a new position in shares of Datadog during the third quarter worth about $1,157,000. Atom Investors LP purchased a new stake in shares of Datadog in the third quarter worth about $1,112,000. Parnassus Investments LLC grew its stake in shares of Datadog by 28.4% in the third quarter. Parnassus Investments LLC now owns 185,329 shares of the company's stock valued at $21,324,000 after buying an additional 40,952 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Datadog by 2.1% during the 3rd quarter. Jennison Associates LLC now owns 6,273,348 shares of the company's stock valued at $721,811,000 after buying an additional 126,613 shares during the period. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Datadog

In other news, CEO Olivier Pomel sold 178,723 shares of the business's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $161.28, for a total value of $28,824,445.44. Following the sale, the chief executive officer now owns 379,693 shares of the company's stock, valued at approximately $61,236,887.04. The trade was a 32.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Matthew Jacobson sold 3,393 shares of the firm's 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 transaction, the director now directly owns 695,086 shares of the company's stock, valued at $86,906,602.58. This represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 653,874 shares of company stock valued at $93,721,154. Company insiders own 11.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DDOG. Monness Crespi & Hardt raised shares of Datadog from a "neutral" rating to a "buy" rating and set a $155.00 price objective for the company in a research report on Thursday, November 7th. BMO Capital Markets lifted their price target on shares of Datadog from $135.00 to $145.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Cantor Fitzgerald began coverage on Datadog in a research note on Friday, January 17th. They set an "overweight" rating and a $180.00 target price for the company. Barclays increased their price target on Datadog from $155.00 to $187.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Finally, Guggenheim reaffirmed a "neutral" rating on shares of Datadog in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $157.59.

Datadog Price Performance

Shares of NASDAQ DDOG traded up $2.89 during midday trading on Tuesday, reaching $146.05. 1,707,864 shares of the company traded hands, compared to its average volume of 4,133,496. The company has a market cap of $49.62 billion, a price-to-earnings ratio of 275.75, a PEG ratio of 16.59 and a beta of 1.15. The stock has a 50-day moving average price of $147.72 and a 200 day moving average price of $129.71. Datadog, Inc. has a 52 week low of $98.80 and a 52 week high of $170.08.

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.