Tidal Investments LLC Grows Holdings in Datadog, Inc. (NASDAQ:DDOG)

Tidal Investments LLC increased its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 27.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,295 shares of the company’s stock after acquiring an additional 6,119 shares during the period. Tidal Investments LLC’s holdings in Datadog were worth $3,256,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Blankinship & Foster LLC purchased a new stake in shares of Datadog in the 3rd quarter worth approximately $351,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Datadog in the third quarter worth $625,000. Sanctuary Advisors LLC increased its holdings in shares of Datadog by 106.8% during the third quarter. Sanctuary Advisors LLC now owns 15,018 shares of the company’s stock valued at $1,728,000 after acquiring an additional 7,757 shares in the last quarter. TCW Group Inc. raised its position in shares of Datadog by 0.6% in the 3rd quarter. TCW Group Inc. now owns 224,144 shares of the company’s stock worth $25,790,000 after purchasing an additional 1,412 shares during the last quarter. Finally, Arete Wealth Advisors LLC purchased a new stake in Datadog during the 3rd quarter valued at about $403,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Trading Down 2.4 %

NASDAQ:DDOG opened at $153.03 on Friday. The stock has a 50-day moving average price of $136.72 and a 200 day moving average price of $123.89. Datadog, Inc. has a 12-month low of $98.80 and a 12-month high of $170.08. The stock has a market capitalization of $51.99 billion, a P/E ratio of 288.74, a P/E/G ratio of 20.27 and a beta of 1.11.

Analyst Ratings Changes

DDOG has been the topic of several analyst reports. BNP Paribas initiated coverage on shares of Datadog in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 target price on the stock. Rosenblatt Securities lifted their target price on Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Citigroup lifted their price objective on Datadog from $150.00 to $157.00 and gave the stock a “buy” rating in a report on Friday, November 8th. BMO Capital Markets lifted their price target on shares of Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Sanford C. Bernstein lowered their price objective on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $155.07.

Insider Activity

In other Datadog news, CEO Olivier Pomel sold 178,723 shares of Datadog stock in a transaction on Monday, December 9th. The shares were sold at an average price of $161.28, for a total value of $28,824,445.44. Following the sale, the chief executive officer now directly owns 379,693 shares in the company, valued at approximately $61,236,887.04. The trade was a 32.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $129.33, for a total transaction of $16,438,489.65. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 713,446 shares of company stock worth $97,145,034 over the last quarter. Insiders own 11.78% of the company’s stock.

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.