Holocene Advisors LP Increases Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Holocene Advisors LP raised its holdings in Datadog, Inc. (NASDAQ:DDOG) by 205.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,632,870 shares of the company’s stock after buying an additional 1,097,815 shares during the quarter. Holocene Advisors LP’s holdings in Datadog were worth $187,878,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in DDOG. SouthState Corp acquired a new position in shares of Datadog in the second quarter valued at about $26,000. True Wealth Design LLC boosted its position in Datadog by 12,000.0% in the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after buying an additional 240 shares during the last quarter. Meeder Asset Management Inc. raised its position in Datadog by 66.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after buying an additional 115 shares during the last quarter. Blue Trust Inc. acquired a new stake in Datadog during the 2nd quarter valued at approximately $37,000. Finally, Versant Capital Management Inc lifted its stake in Datadog by 216.5% during the 2nd quarter. Versant Capital Management Inc now owns 307 shares of the company’s stock valued at $40,000 after acquiring an additional 210 shares during the period. Institutional investors and hedge funds own 78.29% of the company’s stock.

Insider Activity at Datadog

In related news, Director Matthew Jacobson sold 9,256 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Amit Agarwal sold 150,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $126.03, for a total transaction of $18,904,500.00. Following the completion of the transaction, the president now directly owns 214,275 shares in the company, valued at $27,005,078.25. This trade represents a 41.18 % decrease in their ownership of the stock. 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 owned by insiders.

Analyst Upgrades and Downgrades

DDOG has been the topic of a number of research reports. TD Cowen reiterated a “buy” rating and issued a $165.00 price objective on shares of Datadog in a research note on Tuesday, November 19th. Citigroup increased their price target on Datadog from $150.00 to $157.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. DA Davidson boosted their price objective on Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a report on Friday, November 8th. Monness Crespi & Hardt upgraded Datadog from a “neutral” rating to a “buy” rating and set a $155.00 target price on the stock in a research note on Thursday, November 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $151.00 price target on shares of Datadog in a research report on Friday, August 9th. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $150.96.

Datadog Price Performance

NASDAQ DDOG opened at $152.75 on Monday. The stock’s 50 day simple moving average is $128.23 and its 200-day simple moving average is $121.31. The company has a market cap of $51.89 billion, a PE ratio of 288.21, a price-to-earnings-growth ratio of 19.99 and a beta of 1.10. Datadog, Inc. has a 1-year low of $98.80 and a 1-year high of $157.48.

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.