ING Groep NV Lowers Position in Datadog, Inc. (NASDAQ:DDOG)

ING Groep NV decreased its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 46.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,720 shares of the company’s stock after selling 18,652 shares during the quarter. ING Groep NV’s holdings in Datadog were worth $2,499,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. SouthState Corp purchased a new stake in shares of Datadog during the 2nd quarter valued at $26,000. Blue Trust Inc. purchased a new stake in Datadog during the second quarter valued at about $37,000. EverSource Wealth Advisors LLC raised its position in Datadog by 70.2% during the first quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock valued at $39,000 after purchasing an additional 127 shares in the last quarter. American National Bank & Trust bought a new stake in Datadog during the third quarter worth about $39,000. Finally, Versant Capital Management Inc boosted its holdings in shares of Datadog by 216.5% in the 2nd quarter. Versant Capital Management Inc now owns 307 shares of the company’s stock worth $40,000 after purchasing an additional 210 shares in the last quarter. 78.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Datadog

In other news, 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 owns 48,411 shares in the company, valued at $5,230,808.55. The trade was a 16.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Olivier Pomel sold 85,637 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $122.61, for a total value of $10,499,952.57. Following the transaction, the chief executive officer now directly owns 392,111 shares in the company, valued at approximately $48,076,729.71. The trade was a 17.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 320,579 shares of company stock valued at $40,386,541. 11.78% of the stock is currently owned by company insiders.

Datadog Stock Down 4.1 %

NASDAQ DDOG opened at $126.09 on Friday. The firm has a market capitalization of $42.51 billion, a PE ratio of 237.91, a P/E/G ratio of 19.20 and a beta of 1.10. The stock’s 50 day moving average is $121.23 and its 200 day moving average is $119.53. Datadog, Inc. has a twelve month low of $98.80 and a twelve month high of $138.61.

Analyst Upgrades and Downgrades

DDOG has been the subject of a number of recent research reports. Needham & Company LLC dropped their target price on Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, August 9th. BNP Paribas began coverage on shares of Datadog in a report on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 price objective for the company. Monness Crespi & Hardt raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 target price on the stock in a report on Thursday, November 7th. TD Cowen lifted their target price on shares of Datadog from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, DA Davidson upped their price target on shares of Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $150.96.

Datadog Company Profile

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.