Insight Holdings Group LLC Buys 1,000 Shares of Datadog, Inc. (NASDAQ:DDOG)

Insight Holdings Group LLC increased its stake in Datadog, Inc. (NASDAQ:DDOG) by 0.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 139,600 shares of the company’s stock after purchasing an additional 1,000 shares during the quarter. Datadog comprises 0.7% of Insight Holdings Group LLC’s investment portfolio, making the stock its 15th largest holding. Insight Holdings Group LLC’s holdings in Datadog were worth $16,062,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DDOG. Investment Management Corp of Ontario grew its position in shares of Datadog by 50.5% in the third quarter. Investment Management Corp of Ontario now owns 9,237 shares of the company’s stock valued at $1,063,000 after purchasing an additional 3,100 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Datadog by 29.8% in the 3rd quarter. Janus Henderson Group PLC now owns 22,851 shares of the company’s stock worth $2,629,000 after buying an additional 5,252 shares during the last quarter. Hilltop Holdings Inc. purchased a new stake in Datadog in the 3rd quarter worth approximately $291,000. Holocene Advisors LP lifted its holdings in shares of Datadog by 205.2% in the third quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock worth $187,878,000 after buying an additional 1,097,815 shares in the last quarter. Finally, Benjamin Edwards Inc. raised its stake in Datadog by 78,000.0% during the third quarter. Benjamin Edwards Inc. now owns 2,343 shares of the company’s stock valued at $270,000 after purchasing an additional 2,340 shares in the last quarter. 78.29% of the stock is owned by institutional investors.

Datadog Stock Up 1.2 %

NASDAQ:DDOG traded up $1.87 on Tuesday, hitting $154.75. The stock had a trading volume of 602,280 shares, compared to its average volume of 3,932,357. Datadog, Inc. has a 52 week low of $98.80 and a 52 week high of $157.48. The business’s fifty day moving average is $128.23 and its 200 day moving average is $121.31. The company has a market cap of $52.57 billion, a PE ratio of 288.46, a P/E/G ratio of 19.99 and a beta of 1.11.

Insiders Place Their Bets

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction on 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 completion of the sale, the chief technology officer now owns 336,165 shares in the company, valued at approximately $43,476,219.45. This represents a 27.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Matthew Jacobson sold 9,256 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the completion of the sale, the director now directly owns 48,411 shares of the company’s stock, valued at approximately $5,230,808.55. The trade was a 16.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 541,491 shares of company stock valued at $68,927,496 over the last 90 days. Insiders own 11.78% of the company’s stock.

Analysts Set New Price Targets

DDOG has been the subject of several research analyst reports. Sanford C. Bernstein decreased their price objective on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. Monness Crespi & Hardt upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a research note on Thursday, November 7th. BMO Capital Markets raised their target price on Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Barclays lifted their price objective on Datadog from $140.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, Scotiabank reduced their price target on Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Datadog presently has an average rating of “Moderate Buy” and a consensus price target of $150.96.

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.