Pacer Advisors Inc. Purchases 40,177 Shares of Datadog, Inc. (NASDAQ:DDOG)

Pacer Advisors Inc. increased its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 141.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 68,595 shares of the company’s stock after purchasing an additional 40,177 shares during the period. Pacer Advisors Inc.’s holdings in Datadog were worth $9,802,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of DDOG. Los Angeles Capital Management LLC boosted its stake in shares of Datadog by 172.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock worth $4,469,000 after acquiring an additional 24,574 shares during the period. Heritage Investors Management Corp bought a new position in shares of Datadog in the third quarter valued at about $1,157,000. Atom Investors LP acquired a new stake in shares of Datadog during the 3rd quarter worth about $1,112,000. Parnassus Investments LLC lifted its position in Datadog by 28.4% during the third quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock worth $21,324,000 after acquiring an additional 40,952 shares during the last quarter. Finally, Jennison Associates LLC increased its position in Datadog by 2.1% during the 3rd quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock worth $721,811,000 after buying an additional 126,613 shares during the period. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Price Performance

Shares of DDOG opened at $151.89 on Wednesday. Datadog, Inc. has a one year low of $98.80 and a one year high of $170.08. The company has a market cap of $51.60 billion, a PE ratio of 286.59, a P/E/G ratio of 16.28 and a beta of 1.14. The stock has a 50-day moving average of $147.68 and a 200-day moving average of $129.02.

Insiders Place Their Bets

In related news, Director Matthew Jacobson sold 3,393 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $125.03, for a total value of $424,226.79. Following the sale, the director now owns 695,086 shares in the company, valued at $86,906,602.58. This represents a 0.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Amit Agarwal sold 150,000 shares of Datadog stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $126.03, for a total value of $18,904,500.00. Following the transaction, the president now owns 214,275 shares of the company’s stock, valued at $27,005,078.25. This trade represents a 41.18 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 642,679 shares of company stock worth $92,155,421. Corporate insiders own 11.78% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DDOG. Sanford C. Bernstein reduced their target price 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. Rosenblatt Securities raised their target price on shares of Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, November 8th. DA Davidson boosted their price target on Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 8th. BMO Capital Markets increased their price target on Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Citigroup lifted their price objective on Datadog from $157.00 to $170.00 and gave the company a “buy” rating in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $158.45.

Datadog 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.