KBC Group NV Grows Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

KBC Group NV lifted its position in Datadog, Inc. (NASDAQ:DDOG) by 6.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 99,507 shares of the company’s stock after buying an additional 5,723 shares during the quarter. KBC Group NV’s holdings in Datadog were worth $11,449,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Bouvel Investment Partners LLC purchased a new stake in Datadog during the 3rd quarter worth approximately $2,274,000. Plato Investment Management Ltd increased its position in shares of Datadog by 22.0% during the third quarter. Plato Investment Management Ltd now owns 6,886 shares of the company’s stock worth $792,000 after acquiring an additional 1,241 shares during the period. Pier 88 Investment Partners LLC raised its stake in shares of Datadog by 10.1% in the third quarter. Pier 88 Investment Partners LLC now owns 9,270 shares of the company’s stock valued at $1,067,000 after acquiring an additional 850 shares in the last quarter. ICICI Prudential Asset Management Co Ltd boosted its holdings in Datadog by 19.9% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 4,061 shares of the company’s stock valued at $467,000 after purchasing an additional 673 shares during the period. Finally, Kovack Advisors Inc. grew its stake in Datadog by 3.9% during the 3rd quarter. Kovack Advisors Inc. now owns 4,799 shares of the company’s stock worth $552,000 after purchasing an additional 179 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Needham & Company LLC reduced their price target on Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Monness Crespi & Hardt upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a research note on Thursday, November 7th. Sanford C. Bernstein lowered their price target on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Monday, October 21st. 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 on the stock. Finally, Wedbush upgraded shares of Datadog from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Datadog has an average rating of “Moderate Buy” and a consensus price target of $150.96.

Datadog Stock Down 4.1 %

Shares of NASDAQ:DDOG opened at $126.09 on Friday. The firm’s 50-day simple moving average is $121.23 and its 200-day simple moving average is $119.53. Datadog, Inc. has a fifty-two week low of $98.80 and a fifty-two week high of $138.61. The company has a market cap of $42.51 billion, a price-to-earnings ratio of 237.91, a PEG ratio of 19.20 and a beta of 1.10.

Insider Activity at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $43,476,219.45. The trade was a 27.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Shardul Shah sold 15,832 shares of Datadog stock in a transaction 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 transaction, the director now directly owns 459,449 shares of the company’s stock, valued at approximately $55,143,068.98. This represents a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 320,579 shares of company stock worth $40,386,541 over the last three months. 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.