Datadog, Inc. (NASDAQ:DDOG) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. grew its position in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 8.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 256,051 shares of the company's stock after purchasing an additional 20,758 shares during the quarter. Victory Capital Management Inc. owned approximately 0.08% of Datadog worth $29,461,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Kodai Capital Management LP purchased a new position in Datadog in the first quarter valued at approximately $116,054,000. DNB Asset Management AS grew its position in shares of Datadog by 1,974.5% in the 2nd quarter. DNB Asset Management AS now owns 847,600 shares of the company's stock valued at $109,925,000 after buying an additional 806,741 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Datadog by 1,597.9% during the 2nd 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 in the last quarter. Bank of Montreal Can lifted its position 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 boosted its stake in Datadog by 9.2% in the second 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 in the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Datadog Stock Performance

DDOG stock traded down $0.12 during midday trading on Monday, hitting $125.97. 3,075,821 shares of the stock were exchanged, compared to its average volume of 3,848,544. The stock's 50-day moving average price is $121.59 and its 200-day moving average price is $119.44. The stock has a market cap of $42.79 billion, a price-to-earnings ratio of 237.68, a PEG ratio of 18.85 and a beta of 1.10. Datadog, Inc. has a fifty-two week low of $98.80 and a fifty-two week high of $138.61.

Wall Street Analyst Weigh In

A number of analysts have recently commented on DDOG shares. Monness Crespi & Hardt upgraded Datadog from a "neutral" rating to a "buy" rating and set a $155.00 target price on the stock in a research report on Thursday, November 7th. Needham & Company LLC reduced their price objective on Datadog from $165.00 to $140.00 and set a "buy" rating for the company in a research note on Friday, August 9th. Cantor Fitzgerald restated an "overweight" rating and set a $150.00 target price on shares of Datadog in a research report on Monday, July 22nd. BMO Capital Markets lifted their target price on shares of Datadog from $135.00 to $145.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Finally, Wedbush upgraded shares of Datadog from a "buy" rating to a "strong-buy" rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Datadog has an average rating of "Moderate Buy" and an average price target of $150.96.

Insider Activity

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $129.33, for a total transaction of $16,438,489.65. Following the sale, the chief technology officer now owns 336,165 shares in the company, valued at approximately $43,476,219.45. This represents a 27.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew Jacobson sold 9,256 shares of the business's stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total value 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 approximately $5,230,808.55. This trade represents a 16.05 % 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 90 days. 11.78% of the stock is currently owned by corporate insiders.

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.