Pallas Capital Advisors LLC Increases Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Pallas Capital Advisors LLC lifted its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 26.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,834 shares of the company’s stock after purchasing an additional 594 shares during the period. Pallas Capital Advisors LLC’s holdings in Datadog were worth $405,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of DDOG. Oppenheimer & Co. Inc. lifted its holdings in Datadog by 4.6% in the second quarter. Oppenheimer & Co. Inc. now owns 13,624 shares of the company’s stock valued at $1,767,000 after acquiring an additional 593 shares during the period. Parallel Advisors LLC lifted its stake in shares of Datadog by 3.5% in the second quarter. Parallel Advisors LLC now owns 3,076 shares of the company’s stock valued at $399,000 after purchasing an additional 105 shares during the period. Thoroughbred Financial Services LLC purchased a new stake in Datadog during the second quarter worth about $481,000. Envestnet Asset Management Inc. increased its holdings in Datadog by 8.0% in the second quarter. Envestnet Asset Management Inc. now owns 356,011 shares of the company’s stock valued at $46,171,000 after buying an additional 26,431 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Datadog by 9.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock valued at $511,620,000 after acquiring an additional 331,808 shares during the period. 78.29% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Datadog

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the 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 sale, the chief technology officer now owns 324,778 shares of the company’s stock, valued at $45,861,901.38. This trade represents a 28.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Olivier Pomel sold 178,723 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 379,693 shares in the company, valued at approximately $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. Insiders sold 609,763 shares of company stock valued at $87,543,649 over the last 90 days. Corporate insiders own 11.78% of the company’s stock.

Datadog Stock Performance

DDOG opened at $139.16 on Wednesday. The company has a market cap of $47.28 billion, a PE ratio of 262.57, 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. The firm has a 50 day moving average price of $145.36 and a 200 day moving average price of $128.42.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada upped their price target on Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Sanford C. Bernstein decreased their target price on Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Loop Capital raised their price target on Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Citigroup lifted their price target on Datadog from $150.00 to $157.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, DA Davidson increased their price objective on shares of Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Datadog has a consensus rating of “Moderate Buy” and a consensus target price of $157.46.

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.