Swiss National Bank Grows Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Swiss National Bank increased its stake in Datadog, Inc. (NASDAQ:DDOG) by 1.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 824,000 shares of the company’s stock after buying an additional 8,800 shares during the quarter. Swiss National Bank’s holdings in Datadog were worth $94,809,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Acadian Asset Management LLC boosted its stake in Datadog by 13.5% during the first quarter. Acadian Asset Management LLC now owns 14,180 shares of the company’s stock valued at $1,749,000 after buying an additional 1,684 shares during the period. Edgestream Partners L.P. increased its holdings in shares of Datadog by 62.2% in the first quarter. Edgestream Partners L.P. now owns 8,224 shares of the company’s stock worth $1,016,000 after buying an additional 3,155 shares during the period. Covestor Ltd increased its holdings in shares of Datadog by 330.9% in the first quarter. Covestor Ltd now owns 948 shares of the company’s stock worth $117,000 after buying an additional 728 shares during the period. Ameritas Investment Partners Inc. increased its holdings in shares of Datadog by 1.2% in the first quarter. Ameritas Investment Partners Inc. now owns 8,867 shares of the company’s stock worth $1,096,000 after buying an additional 103 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its holdings in Datadog by 17.2% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 9,396 shares of the company’s stock valued at $1,161,000 after purchasing an additional 1,382 shares during the period. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Datadog Stock Down 0.1 %

Shares of DDOG opened at $125.97 on Tuesday. Datadog, Inc. has a 52-week low of $98.80 and a 52-week high of $138.61. The company has a market capitalization of $42.79 billion, a PE ratio of 237.68, a price-to-earnings-growth ratio of 18.85 and a beta of 1.10. The stock has a fifty day simple moving average of $121.59 and a two-hundred day simple moving average of $119.44.

Insiders Place Their Bets

In other news, Director Shardul Shah sold 15,832 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $120.02, for a total transaction of $1,900,156.64. Following the sale, the director now owns 459,449 shares of the company’s stock, valued at approximately $55,143,068.98. This trade represents a 3.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the director now directly owns 48,411 shares in the company, valued at approximately $5,230,808.55. This trade represents a 16.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 320,579 shares of company stock valued at $40,386,541 in the last three months. 11.78% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DDOG. Citigroup boosted their price target on Datadog from $150.00 to $157.00 and gave the company a “buy” rating in a report on Friday, November 8th. UBS Group restated an “underperform” rating on shares of Datadog in a report on Friday, October 18th. TD Cowen boosted their price target on Datadog from $160.00 to $165.00 and gave the company a “buy” rating in a report on Friday, November 8th. BMO Capital Markets boosted their price target on Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Sanford C. Bernstein reduced their target price on Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Datadog currently has a consensus rating of “Moderate Buy” and a consensus 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.