Needham Investment Management LLC Makes New $230,000 Investment in Datadog, Inc. (NASDAQ:DDOG)

Needham Investment Management LLC purchased a new position in Datadog, Inc. (NASDAQ:DDOG) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,000 shares of the company’s stock, valued at approximately $230,000.

A number of other institutional investors also recently modified their holdings of the stock. Los Angeles Capital Management LLC boosted its holdings in Datadog by 172.2% in the third 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 bought a new position in shares of Datadog in the third quarter worth about $1,157,000. Jennison Associates LLC boosted its stake in Datadog by 2.1% during the 3rd quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock valued at $721,811,000 after purchasing an additional 126,613 shares during the period. Parnassus Investments LLC grew its holdings in Datadog by 28.4% in the 3rd 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, Bank of Montreal Can increased its position in Datadog by 129.2% in the 2nd quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock worth $79,384,000 after buying an additional 344,431 shares during the period. Institutional investors and hedge funds own 78.29% of the company’s stock.

Insider Transactions at Datadog

In other news, CRO Sean Michael Walters sold 4,244 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $135.00, for a total transaction of $572,940.00. Following the completion of the transaction, the executive now directly owns 179,367 shares of the company’s stock, valued at $24,214,545. This trade represents a 2.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Shardul Shah sold 15,832 shares of the business’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $120.02, for a total transaction of $1,900,156.64. Following the completion of the sale, the director now directly owns 459,449 shares in the company, valued at approximately $55,143,068.98. This represents a 3.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 541,491 shares of company stock valued at $68,927,496 over the last 90 days. 11.78% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DDOG. Robert W. Baird boosted their price objective on shares of Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Barclays upped their price target on Datadog from $140.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Wedbush raised Datadog from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. 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 report on Monday, October 21st. Finally, Scotiabank decreased their target price on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $150.96.

Datadog Stock Performance

Shares of NASDAQ:DDOG opened at $155.01 on Wednesday. The company has a 50 day moving average price of $129.72 and a two-hundred day moving average price of $121.79. The company has a market capitalization of $52.66 billion, a PE ratio of 292.48, a PEG ratio of 20.01 and a beta of 1.11. Datadog, Inc. has a 52 week low of $98.80 and a 52 week high of $157.48.

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.