Charles Schwab Investment Management Inc. Raises Position in Datadog, Inc. (NASDAQ:DDOG)

Charles Schwab Investment Management Inc. raised its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 2.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,176,577 shares of the company’s stock after buying an additional 29,404 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Datadog were worth $135,377,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SouthState Corp bought a new stake in shares of Datadog in the 2nd quarter valued at about $26,000. Meeder Asset Management Inc. increased its stake in Datadog by 66.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after purchasing an additional 115 shares during the period. Blue Trust Inc. bought a new stake in Datadog in the second quarter valued at approximately $37,000. Versant Capital Management Inc boosted its stake in shares of Datadog by 216.5% during the second quarter. Versant Capital Management Inc now owns 307 shares of the company’s stock valued at $40,000 after purchasing an additional 210 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Datadog by 70.2% in the first quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock worth $39,000 after purchasing an additional 127 shares during the last quarter. 78.29% of the stock is owned by institutional investors.

Datadog Trading Up 7.6 %

Shares of NASDAQ:DDOG opened at $154.83 on Monday. The stock has a fifty day simple moving average of $124.21 and a two-hundred day simple moving average of $120.05. Datadog, Inc. has a 12-month low of $98.80 and a 12-month high of $155.42. The stock has a market capitalization of $52.60 billion, a price-to-earnings ratio of 292.14, a PEG ratio of 18.83 and a beta of 1.10.

Insider Activity

In other Datadog news, CRO Sean Michael Walters sold 2,322 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $125.00, for a total transaction of $290,250.00. Following the sale, the executive now directly owns 183,512 shares in the company, valued at approximately $22,939,000. This trade represents a 1.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Matthew Jacobson sold 9,256 shares of Datadog stock in a transaction 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 sale, the director now directly owns 48,411 shares of the company’s stock, valued at approximately $5,230,808.55. The trade was a 16.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 541,491 shares of company stock worth $68,927,496 over the last three months. 11.78% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on DDOG shares. Rosenblatt Securities upped their price target on shares of Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a report on Friday, November 8th. BTIG Research raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective for the company in a research note on Thursday, August 1st. Monness Crespi & Hardt raised 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. Needham & Company LLC lowered their price target on Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, BNP Paribas started coverage on Datadog in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $150.96.

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.