Venturi Wealth Management LLC Sells 90 Shares of Datadog, Inc. (NASDAQ:DDOG)

Venturi Wealth Management LLC reduced its stake in Datadog, Inc. (NASDAQ:DDOG) by 10.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 777 shares of the company’s stock after selling 90 shares during the quarter. Venturi Wealth Management LLC’s holdings in Datadog were worth $89,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Los Angeles Capital Management LLC boosted 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 worth $4,469,000 after acquiring an additional 24,574 shares in the last quarter. Heritage Investors Management Corp bought a new position in Datadog in the 3rd quarter worth about $1,157,000. Vanguard Group Inc. grew its position in Datadog by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock valued at $3,390,485,000 after purchasing an additional 171,693 shares during the last quarter. Bank of Montreal Can increased its stake in 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 in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Datadog by 23.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,933 shares of the company’s stock worth $19,635,000 after buying an additional 32,217 shares during the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Insider Activity

In other news, CRO Sean Michael Walters sold 2,322 shares of Datadog stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $125.00, for a total transaction of $290,250.00. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew Jacobson sold 9,256 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 48,411 shares of the company’s stock, valued at $5,230,808.55. The trade was a 16.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 320,579 shares of company stock valued at $40,386,541. 11.78% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DDOG. Wedbush upgraded shares of Datadog from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. UBS Group reissued an “underperform” rating on shares of Datadog in a research report on Friday, October 18th. Monness Crespi & Hardt upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a research report on Thursday, November 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $151.00 price target on shares of Datadog in a report on Friday, August 9th. Finally, DA Davidson increased their price target on Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $150.96.

Datadog Stock Performance

Shares of Datadog stock opened at $131.43 on Friday. The business’s 50 day moving average price is $120.42 and its 200 day moving average price is $119.46. The company has a market cap of $44.31 billion, a price-to-earnings ratio of 247.98, a PEG ratio of 18.45 and a beta of 1.10. Datadog, Inc. has a one year low of $98.80 and a one year high of $138.61.

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.