Westfield Capital Management Co. LP Has $68.78 Million Stake in Datadog, Inc. (NASDAQ:DDOG)

Westfield Capital Management Co. LP raised its position in Datadog, Inc. (NASDAQ:DDOG) by 5.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 597,805 shares of the company’s stock after acquiring an additional 31,059 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Datadog were worth $68,783,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of DDOG. Larson Financial Group LLC lifted its stake in Datadog by 3,718.2% in the 3rd quarter. Larson Financial Group LLC now owns 840 shares of the company’s stock valued at $97,000 after purchasing an additional 818 shares during the last quarter. Swedbank AB raised its stake in Datadog by 3.2% in the third quarter. Swedbank AB now owns 110,712 shares of the company’s stock valued at $12,739,000 after buying an additional 3,483 shares during the period. Algert Global LLC lifted its position in shares of Datadog by 832.9% in the third quarter. Algert Global LLC now owns 41,299 shares of the company’s stock valued at $4,752,000 after buying an additional 36,872 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of Datadog by 33.9% during the 3rd quarter. Cerity Partners LLC now owns 40,752 shares of the company’s stock worth $4,689,000 after acquiring an additional 10,318 shares during the period. Finally, Champlain Investment Partners LLC acquired a new position in shares of Datadog during the 3rd quarter worth approximately $52,561,000. Institutional investors own 78.29% of the company’s stock.

Wall Street Analysts Forecast Growth

DDOG has been the subject of a number of research analyst reports. 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 research report on Monday, October 21st. Citigroup lifted their target price on shares of Datadog from $150.00 to $157.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $151.00 price target on shares of Datadog in a report on Friday, August 9th. BTIG Research upgraded 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. Finally, BNP Paribas began coverage on Datadog in a research note on Tuesday, October 8th. They set an “outperform” rating and a $150.00 target price on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $150.96.

Datadog Trading Up 7.6 %

NASDAQ DDOG opened at $154.83 on Friday. The firm’s 50 day simple moving average is $124.21 and its 200 day simple moving average is $120.03. The firm has a market capitalization of $52.60 billion, a price-to-earnings ratio of 292.14, a P/E/G ratio of 18.83 and a beta of 1.10. Datadog, Inc. has a 1 year low of $98.80 and a 1 year high of $155.42.

Insiders Place Their Bets

In related news, CRO Sean Michael Walters sold 4,244 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $135.00, for a total transaction of $572,940.00. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Olivier Pomel sold 85,637 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $122.61, for a total value of $10,499,952.57. Following the completion of the sale, the chief executive officer now directly owns 392,111 shares in the company, valued at $48,076,729.71. This trade represents a 17.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 541,491 shares of company stock worth $68,927,496 over the last three months. Insiders own 11.78% of the company’s stock.

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.