Brooklyn Investment Group Takes $65,000 Position in Datadog, Inc. (NASDAQ:DDOG)

Brooklyn Investment Group bought a new stake in shares of Datadog, Inc. (NASDAQ:DDOG) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 569 shares of the company’s stock, valued at approximately $65,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC lifted its holdings in Datadog by 2.1% during the 3rd quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock worth $721,811,000 after buying an additional 126,613 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Datadog by 9.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock valued at $511,620,000 after purchasing an additional 331,808 shares in the last quarter. 1832 Asset Management L.P. raised its stake in Datadog by 5.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,486,600 shares of the company’s stock worth $322,487,000 after acquiring an additional 138,700 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Datadog by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,176,577 shares of the company’s stock worth $135,377,000 after acquiring an additional 29,404 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Datadog by 19.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,068,070 shares of the company’s stock worth $138,518,000 after purchasing an additional 172,887 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Price Performance

Shares of DDOG opened at $151.96 on Friday. The stock’s 50-day moving average is $127.47 and its two-hundred day moving average is $121.02. The stock has a market cap of $51.62 billion, a PE ratio of 286.72, a P/E/G ratio of 20.50 and a beta of 1.10. Datadog, Inc. has a 12 month low of $98.80 and a 12 month high of $157.48.

Insiders Place Their Bets

In related news, CRO Sean Michael Walters sold 4,244 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $135.00, for a total value of $572,940.00. Following the transaction, the executive now owns 179,367 shares in the company, valued at approximately $24,214,545. The trade was a 2.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $122.61, for a total value of $10,499,952.57. Following the completion of the transaction, the chief executive officer now owns 392,111 shares in the company, valued at approximately $48,076,729.71. This trade represents a 17.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 541,491 shares of company stock worth $68,927,496 over the last quarter. 11.78% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on DDOG shares. Wedbush raised shares of Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. BMO Capital Markets lifted their target price on shares of Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Monness Crespi & Hardt raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 target price on the stock in a report on Thursday, November 7th. Sanford C. Bernstein lowered their target price on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. Finally, Rosenblatt Securities lifted their target price on shares of Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.