Nilsine Partners LLC Purchases New Holdings in Datadog, Inc. (NASDAQ:DDOG)

Nilsine Partners LLC acquired a new position in shares of Datadog, Inc. (NASDAQ:DDOG) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 2,423 shares of the company’s stock, valued at approximately $346,000.

Several other hedge funds and other institutional investors also recently modified their holdings of DDOG. True Wealth Design LLC increased its stake in shares of Datadog by 12,000.0% during the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after acquiring an additional 240 shares during the period. Retirement Wealth Solutions LLC purchased a new position in shares of Datadog during the 4th quarter worth approximately $30,000. Avior Wealth Management LLC raised its stake in shares of Datadog by 55.9% during the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after buying an additional 81 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Datadog by 66.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after buying an additional 115 shares during the period. Finally, Quarry LP purchased a new stake in shares of Datadog in the third quarter valued at approximately $33,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Datadog Stock Down 4.1 %

NASDAQ:DDOG opened at $145.72 on Thursday. The company has a market cap of $49.50 billion, a P/E ratio of 274.95, a P/E/G ratio of 16.28 and a beta of 1.14. The firm’s 50 day moving average is $148.05 and its two-hundred day moving average is $129.18. Datadog, Inc. has a fifty-two week low of $98.80 and a fifty-two week high of $170.08.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DDOG. Cantor Fitzgerald initiated coverage on Datadog in a report on Friday, January 17th. They issued an “overweight” rating and a $180.00 target price for the company. Truist Financial lowered shares of Datadog from a “buy” rating to a “hold” rating and lowered their target price for the stock from $170.00 to $150.00 in a research report on Tuesday, January 7th. DA Davidson lifted their price target on shares of Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Morgan Stanley restated an “equal weight” rating and issued a $143.00 price target on shares of Datadog in a report on Thursday, January 16th. Finally, Barclays lifted their price objective on Datadog from $155.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $157.59.

Insider Buying and Selling

In other Datadog news, Director Matthew Jacobson sold 3,393 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $125.03, for a total transaction of $424,226.79. Following the completion of the sale, the director now directly owns 695,086 shares in the company, valued at $86,906,602.58. This represents a 0.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Kerry Acocella sold 2,488 shares of Datadog stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $158.04, for a total value of $393,203.52. Following the completion of the transaction, the general counsel now directly owns 68,758 shares in the company, valued at $10,866,514.32. This represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 653,874 shares of company stock valued at $93,721,154. 11.78% of the stock is currently owned by company 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.