USA Financial Formulas Acquires New Stake in Datadog, Inc. (NASDAQ:DDOG)

USA Financial Formulas bought a new position in Datadog, Inc. (NASDAQ:DDOG) during the fourth quarter, Holdings Channel.com reports. The fund bought 8,504 shares of the company’s stock, valued at approximately $1,215,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC increased its holdings in Datadog by 12,000.0% during the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after buying an additional 240 shares during the period. Meeder Asset Management Inc. boosted its position in Datadog by 66.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after acquiring an additional 115 shares in the last quarter. Quarry LP bought a new position in shares of Datadog in the 3rd quarter worth $33,000. Kieckhefer Group LLC purchased a new stake in shares of Datadog during the 4th quarter worth $43,000. Finally, American National Bank & Trust purchased a new stake in Datadog during the 3rd quarter worth approximately $39,000. Institutional investors own 78.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Rosenblatt Securities raised their price target on shares of Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, November 8th. BNP Paribas initiated coverage on Datadog in a research report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price target for the company. Jefferies Financial Group increased their price objective on Datadog from $155.00 to $170.00 and gave the company a “buy” rating in a report on Monday, January 6th. Sanford C. Bernstein decreased their target price on Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Finally, Robert W. Baird boosted their target price on shares of Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $156.97.

Datadog Price Performance

NASDAQ:DDOG opened at $140.95 on Thursday. The firm has a market capitalization of $47.88 billion, a price-to-earnings ratio of 265.95, a PEG 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 company’s 50-day moving average is $145.36 and its two-hundred day moving average is $128.42.

Insider Activity

In other news, President Amit Agarwal sold 150,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the president now directly owns 214,275 shares in the company, valued at $27,005,078.25. This trade represents a 41.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Matthew Jacobson sold 3,393 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $125.03, for a total value of $424,226.79. Following the completion of the sale, the director now owns 695,086 shares in the company, valued at $86,906,602.58. This represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 609,763 shares of company stock valued at $87,543,649 in the last quarter. 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.