MQS Management LLC Invests $236,000 in Datadog, Inc. (NASDAQ:DDOG)

MQS Management LLC acquired a new stake in Datadog, Inc. (NASDAQ:DDOG) in the third quarter, Holdings Channel.com reports. The firm acquired 2,047 shares of the company’s stock, valued at approximately $236,000.

A number of other hedge funds have also bought and sold shares of the business. SouthState Corp purchased a new position in shares of Datadog during the 2nd quarter valued at $26,000. Blue Trust Inc. purchased a new position in shares of Datadog during the 2nd quarter valued at $37,000. EverSource Wealth Advisors LLC grew its position in shares of Datadog by 70.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock valued at $39,000 after purchasing an additional 127 shares in the last quarter. American National Bank & Trust purchased a new position in shares of Datadog during the 3rd quarter valued at $39,000. Finally, Versant Capital Management Inc grew its position in shares of Datadog by 216.5% during the 2nd quarter. Versant Capital Management Inc now owns 307 shares of the company’s stock valued at $40,000 after purchasing an additional 210 shares in the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Needham & Company LLC reduced their price target on shares of Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, August 9th. BTIG Research raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective for the company in a report on Thursday, August 1st. DA Davidson lifted their price objective on shares of Datadog from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Sanford C. Bernstein dropped their price objective on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Finally, BNP Paribas started coverage on shares of Datadog in a report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price objective for the company. One investment 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $150.96.

Insiders Place Their Bets

In other news, General Counsel Kerry Acocella sold 2,452 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $120.06, for a total value of $294,387.12. Following the transaction, the general counsel now owns 74,421 shares in the company, valued at approximately $8,934,985.26. This represents a 3.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO Sean Michael Walters sold 2,322 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $125.00, for a total transaction of $290,250.00. Following the completion of the transaction, the executive now owns 183,512 shares in the company, valued at approximately $22,939,000. This represents a 1.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 320,579 shares of company stock worth $40,386,541. 11.78% of the stock is currently owned by company insiders.

Datadog Stock Performance

Shares of DDOG opened at $126.09 on Friday. The stock has a market cap of $42.51 billion, a PE ratio of 237.91, a price-to-earnings-growth ratio of 19.20 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. The firm’s 50-day simple moving average is $120.85 and its two-hundred day simple moving average is $119.55.

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.