Datadog, Inc. (NASDAQ:DDOG) Shares Purchased by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec raised its holdings in Datadog, Inc. (NASDAQ:DDOG) by 99.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 212,606 shares of the company’s stock after purchasing an additional 106,245 shares during the period. Caisse DE Depot ET Placement DU Quebec owned about 0.06% of Datadog worth $24,462,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Los Angeles Capital Management LLC raised its holdings in Datadog by 172.2% in the third quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock valued at $4,469,000 after acquiring an additional 24,574 shares in the last quarter. Heritage Investors Management Corp acquired a new stake in shares of Datadog in the 3rd quarter valued at about $1,157,000. Jennison Associates LLC lifted its position in shares of Datadog by 2.1% during the third quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock worth $721,811,000 after purchasing an additional 126,613 shares during the last quarter. Parnassus Investments LLC grew its stake in Datadog by 28.4% in the third quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock worth $21,324,000 after purchasing an additional 40,952 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in Datadog by 129.2% in the second quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock valued at $79,384,000 after buying an additional 344,431 shares during the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Datadog news, Director Matthew Jacobson sold 9,256 shares of the company’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 transaction, the director now owns 48,411 shares of the company’s stock, valued at approximately $5,230,808.55. This represents a 16.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $129.33, for a total value 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. This trade represents a 27.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 541,491 shares of company stock worth $68,927,496. 11.78% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. BMO Capital Markets lifted their target price on Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. TD Cowen reiterated a “buy” rating and set a $165.00 target price on shares of Datadog in a research note on Tuesday, November 19th. Citigroup raised their price target on shares of Datadog from $150.00 to $157.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. BNP Paribas initiated coverage on shares of Datadog in a research report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price objective for the company. Finally, UBS Group reissued an “underperform” rating on shares of Datadog in a report on Friday, October 18th. One investment 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, Datadog presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.96.

Datadog Stock Performance

DDOG opened at $152.75 on Monday. The stock’s fifty day moving average is $128.23 and its 200-day moving average is $121.31. Datadog, Inc. has a one year low of $98.80 and a one year high of $157.48. The company has a market capitalization of $51.89 billion, a PE ratio of 288.21, a P/E/G ratio of 19.99 and a beta of 1.10.

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.