Champlain Investment Partners LLC Purchases Shares of 456,810 Datadog, Inc. (NASDAQ:DDOG)

Champlain Investment Partners LLC purchased a new stake in Datadog, Inc. (NASDAQ:DDOG) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 456,810 shares of the company’s stock, valued at approximately $52,561,000.

A number of other institutional investors have also recently made changes to their positions in DDOG. SouthState Corp bought a new stake in shares of Datadog in the 2nd quarter valued at about $26,000. Meeder Asset Management Inc. boosted its position in shares of 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 purchasing an additional 115 shares in the last quarter. Blue Trust Inc. bought a new stake in shares of Datadog during the 2nd quarter valued at about $37,000. EverSource Wealth Advisors LLC boosted 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. Finally, American National Bank & Trust bought a new stake in shares of Datadog during the 3rd quarter valued at about $39,000. Institutional investors own 78.29% of the company’s stock.

Wall Street Analysts Forecast Growth

DDOG has been the topic of several research analyst reports. Scotiabank cut their target price on Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. Monness Crespi & Hardt upgraded Datadog from a “neutral” rating to a “buy” rating and set a $155.00 target price on the stock in a research report on Thursday, November 7th. Citigroup upped their target price on Datadog from $150.00 to $157.00 and gave the company a “buy” rating in a research report on Friday, November 8th. BMO Capital Markets upped their price target on Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Robert W. Baird upped their price target on Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $150.96.

Datadog Trading Up 7.6 %

Shares of DDOG opened at $154.83 on Friday. The company has a market capitalization of $52.60 billion, a price-to-earnings ratio of 292.14, a PEG ratio of 18.83 and a beta of 1.10. The stock has a 50 day moving average of $124.21 and a 200 day moving average of $120.03. Datadog, Inc. has a 12 month low of $98.80 and a 12 month high of $155.42.

Insider Activity at Datadog

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $129.33, for a total value of $16,438,489.65. Following the completion of the sale, the chief technology officer now directly owns 336,165 shares of the company’s stock, valued at $43,476,219.45. This trade represents a 27.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CRO Sean Michael Walters sold 4,244 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $135.00, for a total value of $572,940.00. Following the transaction, the executive now directly owns 179,367 shares in the company, valued at $24,214,545. This represents a 2.31 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 541,491 shares of company stock valued at $68,927,496. 11.78% of the stock is owned by 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.