Clearbridge Investments LLC Grows Position in Datadog, Inc. (NASDAQ:DDOG)

Clearbridge Investments LLC raised its holdings in Datadog, Inc. (NASDAQ:DDOG) by 15.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 246,203 shares of the company’s stock after acquiring an additional 32,134 shares during the period. Clearbridge Investments LLC’s holdings in Datadog were worth $29,884,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Anchor Investment Management LLC purchased a new position in shares of Datadog during the 4th quarter valued at about $25,000. Private Trust Co. NA raised its holdings in shares of Datadog by 743.3% during the 4th quarter. Private Trust Co. NA now owns 253 shares of the company’s stock valued at $31,000 after buying an additional 223 shares in the last quarter. AM Squared Ltd purchased a new position in shares of Datadog during the 3rd quarter valued at about $36,000. GAMMA Investing LLC purchased a new position in shares of Datadog during the 4th quarter valued at about $45,000. Finally, Headinvest LLC purchased a new position in shares of Datadog during the 3rd quarter valued at about $46,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Trading Down 0.5 %

Shares of NASDAQ DDOG opened at $122.12 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.43 and a current ratio of 3.43. The business’s 50 day moving average price is $123.15 and its 200-day moving average price is $121.76. Datadog, Inc. has a fifty-two week low of $77.81 and a fifty-two week high of $138.61. The company has a market cap of $40.85 billion, a price-to-earnings ratio of 381.63, a PEG ratio of 47.83 and a beta of 1.14.

Analysts Set New Price Targets

Several equities analysts recently issued reports on DDOG shares. Barclays reduced their price target on Datadog from $152.00 to $145.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. Canaccord Genuity Group restated a “buy” rating and set a $150.00 price target on shares of Datadog in a research report on Friday, February 23rd. Wolfe Research raised their price target on Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 14th. BMO Capital Markets reduced their price target on Datadog from $155.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 8th. Finally, Needham & Company LLC restated a “buy” rating and set a $165.00 price target on shares of Datadog in a research report on Wednesday, May 15th. Five research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $135.58.

Insider Buying and Selling

In related news, CEO Olivier Pomel sold 19,226 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $130.06, for a total value of $2,500,533.56. Following the transaction, the chief executive officer now owns 299,075 shares of the company’s stock, valued at $38,897,694.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Datadog news, General Counsel Kerry Acocella sold 6,538 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $128.58, for a total transaction of $840,656.04. Following the sale, the general counsel now owns 66,402 shares of the company’s stock, valued at approximately $8,537,969.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Olivier Pomel sold 19,226 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $130.06, for a total value of $2,500,533.56. Following the sale, the chief executive officer now directly owns 299,075 shares in the company, valued at approximately $38,897,694.50. The disclosure for this sale can be found here. Insiders have sold a total of 712,402 shares of company stock valued at $89,071,727 over the last quarter. 11.78% of the stock is 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.