Pitcairn Co. Sells 873 Shares of Datadog, Inc. (NASDAQ:DDOG)

Pitcairn Co. decreased its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 8.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,026 shares of the company’s stock after selling 873 shares during the period. Pitcairn Co.’s holdings in Datadog were worth $1,039,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Baader Bank Aktiengesellschaft raised its position in Datadog by 1.5% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 5,077 shares of the company’s stock valued at $657,000 after purchasing an additional 77 shares in the last quarter. Pathstone Holdings LLC raised its stake in Datadog by 0.4% in the third quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock worth $2,664,000 after buying an additional 91 shares in the last quarter. GAMMA Investing LLC raised its stake in Datadog by 19.5% in the third quarter. GAMMA Investing LLC now owns 563 shares of the company’s stock worth $65,000 after buying an additional 92 shares in the last quarter. HB Wealth Management LLC lifted its stake in shares of Datadog by 5.2% during the 2nd quarter. HB Wealth Management LLC now owns 1,926 shares of the company’s stock worth $250,000 after purchasing an additional 95 shares during the last quarter. Finally, WR Wealth Planners LLC boosted its holdings in shares of Datadog by 31.6% in the 2nd quarter. WR Wealth Planners LLC now owns 433 shares of the company’s stock valued at $56,000 after buying an additional 104 shares in the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CRO Sean Michael Walters sold 2,322 shares of the stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $125.00, for a total transaction of $290,250.00. Following the transaction, the executive now owns 183,512 shares of the company’s stock, valued at approximately $22,939,000. This represents a 1.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Shardul Shah sold 15,832 shares of Datadog stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $120.02, for a total transaction of $1,900,156.64. Following the completion of the transaction, the director now owns 459,449 shares of the company’s stock, valued at $55,143,068.98. This trade represents a 3.33 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 541,491 shares of company stock valued at $68,927,496. 11.78% of the stock is currently owned by insiders.

Datadog Stock Performance

DDOG opened at $154.83 on Monday. Datadog, Inc. has a one year low of $98.80 and a one year high of $155.42. The business’s 50 day moving average price is $124.21 and its 200 day moving average price is $120.05. The stock has a market capitalization of $52.60 billion, a PE ratio of 292.14, a P/E/G ratio of 18.83 and a beta of 1.10.

Analysts Set New Price Targets

DDOG has been the topic of several recent analyst reports. TD Cowen restated a “buy” rating and set a $165.00 price objective on shares of Datadog in a report on Tuesday, November 19th. Sanford C. Bernstein lowered their price objective on Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Robert W. Baird lifted their price target on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Needham & Company LLC dropped their target price on shares of Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $151.00 price objective on shares of Datadog in a research note on Friday, August 9th. One research 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 given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $150.96.

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.