Donoghue Forlines LLC Acquires 9,045 Shares of Datadog, Inc. (NASDAQ:DDOG)

Donoghue Forlines LLC boosted its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 196.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,653 shares of the company’s stock after purchasing an additional 9,045 shares during the quarter. Donoghue Forlines LLC’s holdings in Datadog were worth $1,951,000 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. Los Angeles Capital Management LLC boosted its position in shares of Datadog by 172.2% in the third quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock valued at $4,469,000 after acquiring an additional 24,574 shares during the period. Heritage Investors Management Corp acquired a new stake in Datadog in the 3rd quarter worth $1,157,000. Atom Investors LP bought a new position in shares of Datadog during the 3rd quarter worth about $1,112,000. Parnassus Investments LLC raised its position in shares of 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 last quarter. Finally, Jennison Associates LLC lifted its stake in shares of 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 during the period. Institutional investors and hedge funds own 78.29% of the company’s stock.

Wall Street Analysts Forecast Growth

DDOG has been the subject of several recent research reports. Cantor Fitzgerald assumed coverage on Datadog in a report on Friday, January 17th. They issued an “overweight” rating and a $180.00 price target for the company. Stifel Nicolaus raised their target price on Datadog from $141.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Morgan Stanley reissued an “equal weight” rating and issued a $143.00 price target on shares of Datadog in a report on Thursday, January 16th. Monness Crespi & Hardt raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a report on Thursday, November 7th. Finally, Loop Capital lifted their target price on shares of Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.45.

Datadog Stock Performance

NASDAQ:DDOG opened at $142.35 on Thursday. The stock’s fifty day moving average price is $146.89 and its two-hundred day moving average price is $128.74. The company has a market cap of $48.36 billion, a price-to-earnings ratio of 266.52, a P/E/G ratio of 16.09 and a beta of 1.14. Datadog, Inc. has a 52-week low of $98.80 and a 52-week high of $170.08.

Insider Activity

In other Datadog news, Director Matthew Jacobson sold 3,393 shares of Datadog stock in a transaction on Monday, November 11th. The shares were sold at an average price of $125.03, for a total transaction of $424,226.79. Following the completion of the sale, the director now owns 695,086 shares of the company’s stock, valued at approximately $86,906,602.58. The trade was a 0.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction 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 directly owns 324,778 shares in the company, valued at approximately $45,861,901.38. This trade represents a 28.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 617,679 shares of company stock valued at $88,668,671 over the last 90 days. 11.78% of the stock is owned by company insiders.

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.