CIBC Asset Management Inc Buys 2,812 Shares of Datadog, Inc. (NASDAQ:DDOG)

CIBC Asset Management Inc grew its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 4.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,986 shares of the company’s stock after acquiring an additional 2,812 shares during the quarter. CIBC Asset Management Inc’s holdings in Datadog were worth $7,132,000 as of its most recent SEC filing.

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

Datadog Trading Down 4.1 %

Shares of DDOG opened at $126.09 on Monday. The business’s 50 day moving average is $121.23 and its 200 day moving average is $119.44. The company has a market capitalization of $42.84 billion, a PE ratio of 237.91, a price-to-earnings-growth ratio of 18.85 and a beta of 1.10. Datadog, Inc. has a 12-month low of $98.80 and a 12-month high of $138.61.

Insider Activity at Datadog

In other Datadog news, Director Matthew Jacobson sold 9,256 shares of Datadog stock in a transaction that occurred 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 sale, the director now owns 48,411 shares of the company’s stock, valued at $5,230,808.55. The trade was a 16.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Shardul Shah sold 15,832 shares of Datadog stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $120.02, for a total value of $1,900,156.64. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 320,579 shares of company stock valued at $40,386,541. 11.78% of the stock is owned by company insiders.

Analyst Ratings Changes

DDOG has been the topic of several recent analyst reports. Robert W. Baird increased their price objective on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. BNP Paribas initiated coverage on Datadog in a research report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price objective on the stock. Scotiabank dropped their price objective on Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. Rosenblatt Securities raised their target price on Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Sanford C. Bernstein dropped their target price on Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Datadog presently has a consensus rating of “Moderate Buy” and an average target price of $150.96.

Datadog 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.