Avanza Fonder AB Purchases Shares of 21,453 Datadog, Inc. (NASDAQ:DDOG)

Avanza Fonder AB purchased a new stake in Datadog, Inc. (NASDAQ:DDOG) during the 4th quarter, Holdings Channel.com reports. The fund purchased 21,453 shares of the company’s stock, valued at approximately $3,065,000.

Several other hedge funds also recently added to or reduced their stakes in DDOG. StoneCrest Wealth Management Inc. grew its position in shares of Datadog by 12.8% during the fourth quarter. StoneCrest Wealth Management Inc. now owns 5,525 shares of the company’s stock worth $789,000 after acquiring an additional 628 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its position in shares of Datadog by 31.4% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 6,307 shares of the company’s stock worth $901,000 after acquiring an additional 1,506 shares during the last quarter. Northside Capital Management LLC grew its position in shares of Datadog by 5.2% during the fourth quarter. Northside Capital Management LLC now owns 33,992 shares of the company’s stock worth $4,857,000 after acquiring an additional 1,684 shares during the last quarter. USA Financial Formulas purchased a new position in shares of Datadog during the fourth quarter worth approximately $1,215,000. Finally, Park Avenue Securities LLC grew its position in shares of Datadog by 102.6% during the fourth quarter. Park Avenue Securities LLC now owns 16,160 shares of the company’s stock worth $2,309,000 after acquiring an additional 8,185 shares during the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Datadog

In related news, Director Shardul Shah sold 7,916 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $142.12, for a total value of $1,125,021.92. Following the completion of the transaction, the director now owns 427,785 shares of the company’s stock, valued at approximately $60,796,804.20. The trade was a 1.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $141.21, for a total transaction of $17,948,497.05. Following the completion of the transaction, the chief technology officer now directly owns 324,778 shares of the company’s stock, valued at $45,861,901.38. The trade was a 28.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 617,679 shares of company stock valued at $88,668,671 in the last 90 days. 11.78% of the stock is currently owned by insiders.

Analyst Ratings Changes

DDOG has been the topic of a number of research reports. Loop Capital raised their target price on shares of Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Monness Crespi & Hardt upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 target price on the stock in a research report on Thursday, November 7th. DA Davidson lifted their price objective 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. TD Cowen reiterated a “buy” rating and issued a $165.00 price objective on shares of Datadog in a research report on Tuesday, November 19th. Finally, Truist Financial lowered shares of Datadog from a “buy” rating to a “hold” rating and lowered their price objective for the company from $170.00 to $150.00 in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $158.45.

Datadog Stock Up 1.2 %

NASDAQ:DDOG opened at $138.40 on Friday. The company has a market capitalization of $47.02 billion, a PE ratio of 261.14, a price-to-earnings-growth ratio of 16.31 and a beta of 1.14. Datadog, Inc. has a 52-week low of $98.80 and a 52-week high of $170.08. The stock has a fifty day simple moving average of $145.75 and a 200-day simple moving average of $128.57.

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.