First Horizon Advisors Inc. Grows Stock Position in Datadog, Inc. (NASDAQ:DDOG)

First Horizon Advisors Inc. lifted its stake in Datadog, Inc. (NASDAQ:DDOG) by 15.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 940 shares of the company’s stock after buying an additional 127 shares during the quarter. First Horizon Advisors Inc.’s holdings in Datadog were worth $108,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DDOG. Los Angeles Capital Management LLC boosted its position in Datadog by 172.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock worth $4,469,000 after purchasing an additional 24,574 shares in the last quarter. Heritage Investors Management Corp purchased a new stake in Datadog during the third quarter worth $1,157,000. Parnassus Investments LLC grew its position in Datadog by 28.4% during the third quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock valued at $21,324,000 after buying an additional 40,952 shares during the period. Jennison Associates LLC increased its holdings in Datadog by 2.1% in the third quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock valued at $721,811,000 after buying an additional 126,613 shares in the last quarter. Finally, Bank of Montreal Can raised its position in shares of Datadog by 129.2% in the second quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock worth $79,384,000 after acquiring an additional 344,431 shares during the period. 78.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Datadog

In other news, CFO David M. Obstler sold 33,334 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $135.95, for a total value of $4,531,757.30. Following the sale, the chief financial officer now directly owns 314,158 shares of the company’s stock, valued at approximately $42,709,780.10. The trade was a 9.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Amit Agarwal sold 150,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $126.03, for a total transaction of $18,904,500.00. Following the transaction, the president now directly owns 214,275 shares of the company’s stock, valued at $27,005,078.25. The trade was a 41.18 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 541,491 shares of company stock worth $68,927,496. Insiders own 11.78% of the company’s stock.

Wall Street Analyst Weigh In

DDOG has been the topic of a number of analyst reports. BTIG Research upgraded Datadog from a “neutral” rating to a “buy” rating and set a $143.00 target price on the stock in a research report on Thursday, August 1st. BMO Capital Markets upped their target price on Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Needham & Company LLC decreased their target price on Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Barclays boosted their price target on shares of Datadog from $140.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, Sanford C. Bernstein reduced 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.96.

Datadog Price Performance

NASDAQ:DDOG opened at $154.83 on Friday. The company’s 50-day moving average is $124.21 and its two-hundred day moving average is $120.03. The firm has a market capitalization of $52.60 billion, a price-to-earnings ratio of 292.14, a PEG ratio of 18.83 and a beta of 1.10. Datadog, Inc. has a 1-year low of $98.80 and a 1-year high of $155.42.

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.