Nordea Investment Management AB Has $8.38 Million Holdings in Datadog, Inc. (NASDAQ:DDOG)

Nordea Investment Management AB lifted its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 21.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,256 shares of the company’s stock after buying an additional 10,199 shares during the quarter. Nordea Investment Management AB’s holdings in Datadog were worth $8,376,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of DDOG. Los Angeles Capital Management LLC lifted its stake in shares of Datadog by 172.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock valued at $4,469,000 after purchasing an additional 24,574 shares during the period. Heritage Investors Management Corp bought a new position in shares of Datadog during the 3rd quarter worth approximately $1,157,000. Atom Investors LP acquired a new stake in shares of Datadog during the 3rd quarter worth approximately $1,112,000. Jennison Associates LLC increased its stake in shares of Datadog by 2.1% in the 3rd quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock valued at $721,811,000 after acquiring an additional 126,613 shares in the last quarter. Finally, Parnassus Investments LLC lifted its position 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 acquiring an additional 40,952 shares during the period. Institutional investors own 78.29% of the company’s stock.

Wall Street Analyst Weigh In

DDOG has been the subject of several research analyst reports. Stifel Nicolaus lifted their price target on shares of Datadog from $141.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Truist Financial lowered Datadog from a “buy” rating to a “hold” rating and cut their price target for the stock from $170.00 to $150.00 in a report on Tuesday. Scotiabank lowered their target price on Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. Wedbush upgraded Datadog from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. Finally, Monness Crespi & Hardt upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Datadog presently has a consensus rating of “Moderate Buy” and an average price target of $157.46.

Datadog Stock Up 0.3 %

Shares of NASDAQ:DDOG opened at $141.88 on Friday. The company has a 50-day moving average price of $144.49 and a two-hundred day moving average price of $128.04. Datadog, Inc. has a twelve month low of $98.80 and a twelve month high of $170.08. The firm has a market capitalization of $48.20 billion, a PE ratio of 267.70, a P/E/G ratio of 20.27 and a beta of 1.14.

Insider Buying and Selling

In other news, Director Matthew Jacobson sold 3,393 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $125.03, for a total transaction of $424,226.79. Following the sale, the director now directly owns 695,086 shares in the company, valued at $86,906,602.58. This represents a 0.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Amit Agarwal sold 150,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $126.03, for a total transaction of $18,904,500.00. Following the transaction, the president now directly owns 214,275 shares of the company’s stock, valued at approximately $27,005,078.25. This represents a 41.18 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 592,679 shares of company stock valued at $83,508,362. Company insiders own 11.78% of the company’s stock.

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.