Rakuten Securities Inc. Sells 528 Shares of Datadog, Inc. (NASDAQ:DDOG)

Rakuten Securities Inc. trimmed its position in Datadog, Inc. (NASDAQ:DDOG) by 34.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,008 shares of the company’s stock after selling 528 shares during the period. Rakuten Securities Inc.’s holdings in Datadog were worth $116,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Heritage Investors Management Corp bought a new position in Datadog in the third quarter valued at approximately $1,157,000. Vanguard Group Inc. grew its stake in shares of Datadog by 0.6% in the first quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock valued at $3,390,485,000 after buying an additional 171,693 shares in the last quarter. Bank of Montreal Can increased its holdings in Datadog by 129.2% during the second quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock worth $79,384,000 after buying an additional 344,431 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Datadog by 23.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,933 shares of the company’s stock worth $19,635,000 after acquiring an additional 32,217 shares in the last quarter. Finally, Plato Investment Management Ltd lifted its stake in Datadog by 1,648.8% in the first quarter. Plato Investment Management Ltd now owns 5,159 shares of the company’s stock valued at $638,000 after acquiring an additional 4,864 shares during the last quarter. 78.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on DDOG. BNP Paribas started coverage on Datadog in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 price objective on the stock. Scotiabank reduced their price objective on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Friday. Robert W. Baird increased their price objective on shares of Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday. Monness Crespi & Hardt raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a report on Thursday, November 7th. Finally, Evercore ISI began coverage on shares of Datadog in a research note on Monday, July 15th. They issued an “outperform” rating and a $150.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $150.96.

Datadog Stock Performance

Shares of DDOG opened at $122.36 on Tuesday. Datadog, Inc. has a 52-week low of $98.80 and a 52-week high of $138.61. The firm has a market cap of $41.25 billion, a price-to-earnings ratio of 230.87, a PEG ratio of 22.72 and a beta of 1.10. The business’s fifty day moving average is $119.79 and its 200-day moving average is $119.46.

Insider Transactions at Datadog

In related news, Director Matthew Jacobson sold 9,256 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total value of $1,000,110.80. Following the completion of the transaction, the director now owns 48,411 shares in the company, valued at $5,230,808.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Matthew Jacobson sold 9,256 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total value of $1,000,110.80. Following the completion of the sale, the director now directly owns 48,411 shares in the company, valued at $5,230,808.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $129.33, for a total value of $16,438,489.65. Following the transaction, the chief technology officer now owns 336,165 shares of the company’s stock, valued at $43,476,219.45. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 317,186 shares of company stock worth $39,962,314. Corporate insiders own 11.78% of the company’s stock.

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.