Datadog, Inc. (NASDAQ:DDOG) Stock Position Lifted by Tidal Investments LLC

Tidal Investments LLC increased its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 27.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,295 shares of the company's stock after purchasing an additional 6,119 shares during the quarter. Tidal Investments LLC's holdings in Datadog were worth $3,256,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. SouthState Corp purchased a new position in shares of Datadog in the second quarter worth about $26,000. True Wealth Design LLC increased its position in shares of Datadog by 12,000.0% during the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company's stock worth $28,000 after purchasing an additional 240 shares during the last quarter. Meeder Asset Management Inc. raised its stake in shares of Datadog by 66.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company's stock valued at $33,000 after acquiring an additional 115 shares during the period. Quarry LP purchased a new stake in Datadog in the third quarter valued at approximately $33,000. Finally, Blue Trust Inc. acquired a new position in Datadog during the 2nd quarter worth about $37,000. Hedge funds and other institutional investors own 78.29% of the company's stock.

Datadog Stock Down 2.4 %

NASDAQ:DDOG traded down $3.70 during midday trading on Friday, reaching $153.03. The stock had a trading volume of 4,409,238 shares, compared to its average volume of 4,038,865. The stock has a market cap of $51.99 billion, a P/E ratio of 288.74, a P/E/G ratio of 20.27 and a beta of 1.11. The firm has a fifty day simple moving average of $136.72 and a two-hundred day simple moving average of $123.89. Datadog, Inc. has a 12-month low of $98.80 and a 12-month high of $170.08.

Analyst Upgrades and Downgrades

DDOG has been the topic of several research reports. Mizuho increased their price target on shares of Datadog from $155.00 to $170.00 and gave the stock an "outperform" rating in a research report on Friday. DA Davidson upped their price objective on Datadog from $140.00 to $150.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Wedbush upgraded Datadog from a "buy" rating to a "strong-buy" rating in a research note on Thursday, October 17th. Monness Crespi & Hardt raised Datadog from a "neutral" rating to a "buy" rating and set a $155.00 target price for the company in a research note on Thursday, November 7th. Finally, UBS Group reiterated an "underperform" rating on shares of Datadog in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has assigned 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 $155.07.

Insider Buying and Selling

In other news, CEO Olivier Pomel sold 178,723 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were 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 directly owns 379,693 shares in the company, valued at $61,236,887.04. This represents a 32.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Kerry Acocella sold 2,488 shares of Datadog stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $158.04, for a total value of $393,203.52. Following the transaction, the general counsel now owns 68,758 shares of the company's stock, valued at $10,866,514.32. This represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 713,446 shares of company stock valued at $97,145,034. Corporate insiders own 11.78% of the company's stock.

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.