Blue Trust Inc. Boosts Holdings in Datadog, Inc. (NASDAQ:DDOG)

Blue Trust Inc. raised its stake in Datadog, Inc. (NASDAQ:DDOG) by 521.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,349 shares of the company’s stock after purchasing an additional 2,810 shares during the period. Blue Trust Inc.’s holdings in Datadog were worth $479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the company. Retirement Wealth Solutions LLC purchased a new position in shares of Datadog during the 4th quarter worth approximately $30,000. Avior Wealth Management LLC increased its holdings in shares of Datadog by 55.9% in the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after purchasing an additional 81 shares in the last quarter. True Wealth Design LLC lifted its stake in shares of Datadog by 12,000.0% in the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after purchasing an additional 240 shares during the period. Meeder Asset Management Inc. grew its position in Datadog by 66.5% during 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 period. Finally, Quarry LP purchased a new position in Datadog in the 3rd quarter valued at approximately $33,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DDOG. Macquarie began coverage on shares of Datadog in a research report on Thursday, December 12th. They issued an “outperform” rating and a $200.00 price objective on the stock. Jefferies Financial Group upped their price objective on Datadog from $155.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, January 6th. BMO Capital Markets boosted their target price on shares of Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Mizuho upped their price objective on shares of Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Truist Financial lowered Datadog from a “buy” rating to a “hold” rating and decreased their price target 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, five have issued a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $157.59.

Insider Activity

In other news, Director Matthew Jacobson sold 3,393 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were 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 of the company’s stock, valued at $86,906,602.58. This represents a 0.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Olivier Pomel sold 178,723 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the completion of the transaction, 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. Over the last ninety days, insiders sold 653,874 shares of company stock worth $93,721,154. 11.78% of the stock is owned by corporate insiders.

Datadog Price Performance

DDOG stock opened at $142.71 on Friday. The business has a fifty day moving average price of $148.23 and a 200 day moving average price of $129.39. Datadog, Inc. has a fifty-two week low of $98.80 and a fifty-two week high of $170.08. The stock has a market capitalization of $48.48 billion, a price-to-earnings ratio of 269.27, a P/E/G ratio of 16.94 and a beta of 1.14.

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.