Biltmore Wealth Management LLC Buys New Shares in Datadog, Inc. (NASDAQ:DDOG)

Biltmore Wealth Management LLC purchased a new position in shares of Datadog, Inc. (NASDAQ:DDOG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,686 shares of the company’s stock, valued at approximately $812,000. Datadog makes up about 0.3% of Biltmore Wealth Management LLC’s portfolio, making the stock its 28th biggest holding.

Other large investors have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC increased its holdings in shares of Datadog by 172.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock worth $4,469,000 after acquiring an additional 24,574 shares during the last quarter. Heritage Investors Management Corp acquired a new position in shares of Datadog in the third quarter valued at $1,157,000. Atom Investors LP bought a new position in shares of Datadog in the third quarter valued at about $1,112,000. Jennison Associates LLC lifted its stake in shares of Datadog by 2.1% during the 3rd quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock worth $721,811,000 after buying an additional 126,613 shares during the last quarter. Finally, Parnassus Investments LLC boosted its holdings in shares of Datadog by 28.4% during the 3rd quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock worth $21,324,000 after buying an additional 40,952 shares during the period. Institutional investors and hedge funds own 78.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DDOG. Robert W. Baird raised their price objective on shares of Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Loop Capital boosted their price target on Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. BNP Paribas started coverage on Datadog in a research report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price objective on the stock. Royal Bank of Canada boosted their target price on shares of Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Citigroup upped their price target on shares of Datadog from $150.00 to $157.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.46.

Insiders Place Their Bets

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $141.21, for a total value of $17,948,497.05. Following the completion of the transaction, the chief technology officer now owns 324,778 shares in the company, valued at $45,861,901.38. This trade represents a 28.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the chief executive officer now directly owns 379,693 shares in the company, valued at $61,236,887.04. The trade was a 32.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 609,763 shares of company stock valued at $87,543,649. 11.78% of the stock is currently owned by insiders.

Datadog Trading Down 1.7 %

Shares of Datadog stock opened at $138.00 on Tuesday. The firm’s 50 day moving average is $145.08 and its 200 day moving average is $128.36. The firm has a market capitalization of $46.88 billion, a PE ratio of 260.38, a price-to-earnings-growth ratio of 19.82 and a beta of 1.14. Datadog, Inc. has a 1 year low of $98.80 and a 1 year high of $170.08.

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.