Daiwa Securities Group Inc. Grows Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Daiwa Securities Group Inc. grew its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 44.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 53,396 shares of the company’s stock after purchasing an additional 16,464 shares during the period. Daiwa Securities Group Inc.’s holdings in Datadog were worth $6,144,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in DDOG. Los Angeles Capital Management LLC raised its stake in Datadog by 172.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock valued at $4,469,000 after buying an additional 24,574 shares during the last quarter. Heritage Investors Management Corp bought a new position in Datadog in the 3rd quarter worth $1,157,000. Jennison Associates LLC boosted its holdings in Datadog by 2.1% in the 3rd quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock worth $721,811,000 after buying an additional 126,613 shares during the period. Parnassus Investments LLC boosted its holdings in shares of Datadog by 28.4% during the 3rd quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock valued at $21,324,000 after purchasing an additional 40,952 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of Datadog by 129.2% during the 2nd quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock valued at $79,384,000 after purchasing an additional 344,431 shares during the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DDOG. BMO Capital Markets upped their target price on shares of Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Barclays upped their target price on shares of Datadog from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Wedbush upgraded shares of Datadog from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. DA Davidson increased their price objective on shares of Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, BTIG Research upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 target price for the company in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $150.96.

Insider Activity

In related news, President Amit Agarwal sold 150,000 shares of Datadog stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $126.03, for a total value of $18,904,500.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Sean Michael Walters sold 2,322 shares of Datadog stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $125.00, for a total value of $290,250.00. Following the completion of the sale, the executive now owns 183,512 shares of the company’s stock, valued at approximately $22,939,000. The trade was a 1.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 541,491 shares of company stock valued at $68,927,496. 11.78% of the stock is owned by company insiders.

Datadog Stock Performance

NASDAQ:DDOG opened at $156.63 on Tuesday. The stock’s 50 day moving average price is $125.12 and its 200 day moving average price is $120.34. Datadog, Inc. has a 52 week low of $98.80 and a 52 week high of $157.15. The company has a market capitalization of $53.21 billion, a P/E ratio of 295.53, a P/E/G ratio of 20.27 and a beta of 1.10.

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.