Perigon Wealth Management LLC Raises Holdings in Datadog, Inc. (NASDAQ:DDOG)

Perigon Wealth Management LLC lifted its position in Datadog, Inc. (NASDAQ:DDOG) by 29.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,294 shares of the company’s stock after buying an additional 516 shares during the period. Perigon Wealth Management LLC’s holdings in Datadog were worth $314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Los Angeles Capital Management LLC lifted its position in Datadog by 172.2% during the third 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 in the last quarter. Heritage Investors Management Corp purchased a new position in Datadog during the third quarter valued at $1,157,000. Atom Investors LP purchased a new position in Datadog during the third quarter valued at $1,112,000. Parnassus Investments LLC raised its holdings in Datadog by 28.4% during the third 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. Finally, Jennison Associates LLC raised its holdings in Datadog by 2.1% during the third 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 during the period. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DDOG. Rosenblatt Securities raised their price target on Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a report on Friday, November 8th. 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 report on Thursday, November 7th. DA Davidson lifted their target price on Datadog from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Robert W. Baird lifted their target price on Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, BMO Capital Markets lifted their target price on Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $157.59.

Datadog Trading Up 0.1 %

Shares of Datadog stock opened at $142.71 on Monday. The firm’s 50-day moving average price is $147.99 and its 200 day moving average price is $129.48. 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 $48.48 billion, a PE ratio of 269.27, a P/E/G ratio of 16.94 and a beta of 1.14.

Insiders Place Their Bets

In related news, President Amit Agarwal sold 150,000 shares of Datadog stock in a transaction that occurred on Friday, November 15th. The shares were 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 owns 214,275 shares in the company, valued at approximately $27,005,078.25. This trade represents a 41.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Olivier Pomel sold 178,723 shares of Datadog stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the completion of the sale, the chief executive officer now owns 379,693 shares of the company’s stock, valued at $61,236,887.04. This trade represents a 32.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 653,874 shares of company stock valued at $93,721,154 in the last ninety days. 11.78% of the stock is currently owned by corporate insiders.

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.