Quantbot Technologies LP Boosts Stake in Datadog, Inc. (NASDAQ:DDOG)

Quantbot Technologies LP grew its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 106.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,929 shares of the company’s stock after acquiring an additional 37,084 shares during the quarter. Quantbot Technologies LP’s holdings in Datadog were worth $8,276,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of DDOG. Loomis Sayles & Co. L P acquired a new stake in Datadog during the 3rd quarter worth approximately $334,000. Harvest Fund Management Co. Ltd grew its stake in Datadog by 53.5% during the third quarter. Harvest Fund Management Co. Ltd now owns 14,331 shares of the company’s stock worth $1,649,000 after buying an additional 4,997 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Datadog in the third quarter worth $780,000. Daiwa Securities Group Inc. raised its stake in shares of Datadog by 44.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 53,396 shares of the company’s stock valued at $6,144,000 after acquiring an additional 16,464 shares during the period. Finally, Westfield Capital Management Co. LP lifted its holdings in shares of Datadog by 5.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 597,805 shares of the company’s stock valued at $68,783,000 after acquiring an additional 31,059 shares in the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Datadog Price Performance

DDOG stock opened at $156.63 on Tuesday. The firm has a market cap of $53.21 billion, a price-to-earnings ratio of 295.53, a PEG ratio of 20.27 and a beta of 1.10. Datadog, Inc. has a 1-year low of $98.80 and a 1-year high of $157.15. The firm has a fifty day moving average price of $125.12 and a two-hundred day moving average price of $120.34.

Analyst Ratings Changes

Several analysts recently issued reports on the company. BMO Capital Markets increased 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. BNP Paribas initiated coverage on Datadog in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 target price for the company. DA Davidson boosted their price target on Datadog from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Sanford C. Bernstein decreased their price target on Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Finally, Needham & Company LLC dropped their price objective on shares of Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Datadog presently has an average rating of “Moderate Buy” and an average price target of $150.96.

Insider Activity

In other Datadog news, Director Matthew Jacobson sold 9,256 shares of the firm’s stock in a transaction 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 directly owns 48,411 shares in the company, valued at approximately $5,230,808.55. This trade represents a 16.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO David M. Obstler sold 33,334 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $135.95, for a total transaction of $4,531,757.30. Following the transaction, the chief financial officer now directly owns 314,158 shares of the company’s stock, valued at approximately $42,709,780.10. This trade represents a 9.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 541,491 shares of company stock valued at $68,927,496. Company insiders own 11.78% of the company’s stock.

Datadog Company 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.