Pier 88 Investment Partners LLC Has $1.07 Million Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Pier 88 Investment Partners LLC boosted its position in Datadog, Inc. (NASDAQ:DDOG) by 10.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,270 shares of the company’s stock after acquiring an additional 850 shares during the period. Pier 88 Investment Partners LLC’s holdings in Datadog were worth $1,067,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Illinois Municipal Retirement Fund acquired a new stake in shares of Datadog during the first quarter worth $593,000. QRG Capital Management Inc. increased its stake in shares of Datadog by 3.1% in the 1st quarter. QRG Capital Management Inc. now owns 7,899 shares of the company’s stock valued at $976,000 after acquiring an additional 234 shares during the last quarter. Avantax Advisory Services Inc. raised its position in shares of Datadog by 36.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 6,442 shares of the company’s stock valued at $796,000 after acquiring an additional 1,713 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Datadog by 19.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 204,116 shares of the company’s stock worth $25,229,000 after acquiring an additional 32,538 shares during the last quarter. Finally, Midwest Professional Planners LTD. grew its holdings in Datadog by 13.3% during the first quarter. Midwest Professional Planners LTD. now owns 2,707 shares of the company’s stock valued at $335,000 after purchasing an additional 318 shares during the period. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Stock Performance

DDOG opened at $128.45 on Thursday. The stock has a fifty day moving average of $120.03 and a 200-day moving average of $119.40. The company has a market capitalization of $43.31 billion, a P/E ratio of 242.36, a P/E/G ratio of 18.45 and a beta of 1.10. Datadog, Inc. has a fifty-two week low of $98.80 and a fifty-two week high of $138.61.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DDOG. Wedbush upgraded shares of Datadog from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. Scotiabank reduced their target price on Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. Citigroup boosted their target price on Datadog from $150.00 to $157.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Needham & Company LLC dropped their price target on Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Sanford C. Bernstein decreased their price objective on 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 assigned a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.96.

Insiders Place Their Bets

In other news, CRO Sean Michael Walters sold 2,322 shares of Datadog stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $125.00, for a total value of $290,250.00. Following the completion of the sale, the executive now directly owns 183,512 shares in the company, valued at approximately $22,939,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Datadog news, CRO Sean Michael Walters sold 2,322 shares of Datadog stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $125.00, for a total value of $290,250.00. Following the completion of the transaction, the executive now directly owns 183,512 shares of the company’s stock, valued at $22,939,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Olivier Pomel sold 85,637 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $122.61, for a total value of $10,499,952.57. Following the sale, the chief executive officer now directly owns 392,111 shares in the company, valued at approximately $48,076,729.71. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 320,579 shares of company stock worth $40,386,541 in the last quarter. 11.78% of the stock is currently owned by corporate insiders.

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.