Wedmont Private Capital Increases Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Wedmont Private Capital raised its holdings in Datadog, Inc. (NASDAQ:DDOG) by 8.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,149 shares of the company’s stock after buying an additional 164 shares during the quarter. Wedmont Private Capital’s holdings in Datadog were worth $302,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in DDOG. True Wealth Design LLC boosted its stake in Datadog by 12,000.0% in the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after purchasing an additional 240 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in shares of Datadog by 66.5% in the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after buying an additional 115 shares during the last quarter. Quarry LP acquired a new stake in shares of Datadog during the third quarter worth $33,000. Kieckhefer Group LLC purchased a new stake in shares of Datadog during the fourth quarter valued at $43,000. Finally, American National Bank & Trust acquired a new position in shares of Datadog in the 3rd quarter valued at $39,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

Analyst Ratings Changes

DDOG has been the subject of a number of research reports. TD Cowen reaffirmed a “buy” rating and set a $165.00 price target on shares of Datadog in a research report on Tuesday, November 19th. Robert W. Baird upped their target price on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. BNP Paribas started coverage on shares of Datadog in a report on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 price target on the stock. Monness Crespi & Hardt upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a research note on Thursday, November 7th. Finally, Truist Financial lowered shares of Datadog from a “buy” rating to a “hold” rating and cut their price objective for the stock from $170.00 to $150.00 in a research note on Tuesday, January 7th. One investment 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Datadog presently has an average rating of “Moderate Buy” and an average target price of $156.97.

Insider Activity

In other Datadog news, CRO Sean Michael Walters sold 4,244 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $135.00, for a total transaction of $572,940.00. Following the sale, the executive now directly owns 179,367 shares in the company, valued at $24,214,545. This represents a 2.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shardul Shah sold 7,916 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $155.25, for a total transaction of $1,228,959.00. Following the completion of the transaction, the director now directly owns 435,701 shares of the company’s stock, valued at approximately $67,642,580.25. The trade was a 1.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 609,763 shares of company stock valued at $87,543,649. Company insiders own 11.78% of the company’s stock.

Datadog Price Performance

NASDAQ DDOG opened at $136.79 on Friday. The stock has a market capitalization of $46.47 billion, a P/E ratio of 258.10, a PEG ratio of 16.31 and a beta of 1.14. The firm’s 50-day moving average is $145.61 and its two-hundred day moving average is $128.51. Datadog, Inc. has a 12 month low of $98.80 and a 12 month high of $170.08.

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.