Swiss National Bank Grows Stake in Datadog, Inc. (NASDAQ:DDOG)

Swiss National Bank lifted its position in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 824,000 shares of the company's stock after acquiring an additional 8,800 shares during the quarter. Swiss National Bank owned approximately 0.24% of Datadog worth $94,809,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in DDOG. Kodai Capital Management LP purchased a new position in Datadog in the first quarter worth $116,054,000. DNB Asset Management AS raised its position in Datadog by 1,974.5% in the second quarter. DNB Asset Management AS now owns 847,600 shares of the company's stock worth $109,925,000 after acquiring an additional 806,741 shares during the period. Thrivent Financial for Lutherans raised its position in Datadog by 1,597.9% in the second quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company's stock worth $101,841,000 after acquiring an additional 739,011 shares during the period. Bank of Montreal Can boosted its stake in Datadog by 129.2% in 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 during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Datadog by 9.2% during 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 during the period. Hedge funds and other institutional investors own 78.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DDOG. DA Davidson upped their price objective on Datadog from $140.00 to $150.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Robert W. Baird boosted their price objective on Datadog from $140.00 to $150.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. TD Cowen reiterated a "buy" rating and set a $165.00 target price on shares of Datadog in a research report on Tuesday. Wedbush upgraded shares of Datadog from a "buy" rating to a "strong-buy" rating in a research note on Thursday, October 17th. Finally, Sanford C. Bernstein reduced their price objective on shares of Datadog from $157.00 to $151.00 and set an "outperform" rating for the company in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Datadog currently has an average rating of "Moderate Buy" and an average price target of $150.96.

Insider Buying and Selling at Datadog

In other news, Director Matthew Jacobson sold 9,256 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the completion of the sale, the director now owns 48,411 shares of the company's stock, valued at approximately $5,230,808.55. This represents a 16.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Shardul Shah sold 15,832 shares of Datadog stock in a transaction on Friday, October 4th. The stock was sold at an average price of $120.02, for a total transaction of $1,900,156.64. Following the completion of the transaction, the director now directly owns 459,449 shares in the company, valued at approximately $55,143,068.98. The trade was a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 320,579 shares of company stock worth $40,386,541 over the last three months. Company insiders own 11.78% of the company's stock.

Datadog Trading Up 4.8 %

Shares of DDOG traded up $6.00 during mid-day trading on Tuesday, reaching $131.97. The company's stock had a trading volume of 3,853,476 shares, compared to its average volume of 3,849,425. Datadog, Inc. has a 52 week low of $98.80 and a 52 week high of $138.61. The company's fifty day moving average price is $121.59 and its two-hundred day moving average price is $119.44. The stock has a market cap of $44.83 billion, a PE ratio of 243.42, a P/E/G ratio of 18.85 and a beta of 1.10.

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.