Perpetual Ltd Takes Position in Datadog, Inc. (NASDAQ:DDOG)

Perpetual Ltd purchased a new position in Datadog, Inc. (NASDAQ:DDOG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,481 shares of the company’s stock, valued at approximately $355,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC increased its holdings in shares of Datadog by 172.2% during the third 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 in the last quarter. Heritage Investors Management Corp acquired a new stake in shares of Datadog during the 3rd quarter worth approximately $1,157,000. Atom Investors LP acquired a new stake in Datadog in the 3rd quarter valued at $1,112,000. Parnassus Investments LLC grew its stake in Datadog by 28.4% in the 3rd quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock valued at $21,324,000 after acquiring an additional 40,952 shares during the period. Finally, Jennison Associates LLC grew its stake in Datadog by 2.1% in the 3rd quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock valued at $721,811,000 after acquiring an additional 126,613 shares during the period. 78.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Datadog news, CFO David M. Obstler sold 33,334 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $135.95, for a total transaction of $4,531,757.30. Following the transaction, the chief financial officer now owns 314,158 shares of the company’s stock, valued at $42,709,780.10. The trade was a 9.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Olivier Pomel sold 178,723 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 379,693 shares in the company, valued at approximately $61,236,887.04. This represents a 32.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 617,679 shares of company stock worth $88,668,671. Corporate insiders own 11.78% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on DDOG shares. Mizuho lifted their price target on Datadog from $155.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Rosenblatt Securities upped their price target on Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a report on Friday, November 8th. Guggenheim reaffirmed a “neutral” rating on shares of Datadog in a report on Wednesday. Monness Crespi & Hardt upgraded Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a research note on Thursday, November 7th. Finally, Sanford C. Bernstein cut their price target on Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $158.45.

Datadog Stock Performance

Shares of DDOG opened at $140.20 on Friday. The business’s fifty day moving average price is $146.89 and its two-hundred day moving average price is $128.74. The firm has a market capitalization of $47.63 billion, a price-to-earnings ratio of 264.53, a PEG ratio of 16.09 and a beta of 1.14. Datadog, Inc. has a 52 week low of $98.80 and a 52 week high of $170.08.

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.