Banque Cantonale Vaudoise Cuts Stake in Datadog, Inc. (NASDAQ:DDOG)

Banque Cantonale Vaudoise reduced its position in Datadog, Inc. (NASDAQ:DDOG) by 80.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 856 shares of the company’s stock after selling 3,492 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Datadog were worth $98,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Massachusetts Financial Services Co. MA lifted its stake in shares of Datadog by 9.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock worth $511,620,000 after buying an additional 331,808 shares during the period. 1832 Asset Management L.P. lifted its stake in shares of Datadog by 5.9% during the second quarter. 1832 Asset Management L.P. now owns 2,486,600 shares of the company’s stock worth $322,487,000 after buying an additional 138,700 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Datadog by 19.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,068,070 shares of the company’s stock worth $138,518,000 after buying an additional 172,887 shares during the period. Kodai Capital Management LP acquired a new stake in shares of Datadog during the first quarter worth $116,054,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in Datadog by 0.8% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 886,221 shares of the company’s stock valued at $101,969,000 after purchasing an additional 7,339 shares during the period. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Trading Up 7.6 %

Shares of NASDAQ DDOG opened at $154.83 on Friday. Datadog, Inc. has a 12-month low of $98.80 and a 12-month high of $155.42. The stock has a market cap of $52.60 billion, a PE ratio of 292.13, a P/E/G ratio of 17.46 and a beta of 1.10. The company has a 50-day moving average of $124.21 and a 200 day moving average of $119.98.

Analyst Ratings Changes

A number of research firms recently issued reports on DDOG. BTIG Research upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 target price for the company in a research report on Thursday, August 1st. Rosenblatt Securities boosted their target price on shares of Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Scotiabank decreased their target price on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. BNP Paribas began coverage on shares of Datadog in a research report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 target price for the company. Finally, Monness Crespi & Hardt upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Datadog currently has a consensus rating of “Moderate Buy” and a consensus target price of $150.96.

Insider Activity at Datadog

In other Datadog news, CRO Sean Michael Walters sold 2,322 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $125.00, for a total value of $290,250.00. Following the transaction, the executive now directly owns 183,512 shares in the company, valued at $22,939,000. The trade was a 1.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Matthew Jacobson sold 9,256 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the completion of the transaction, the director now owns 48,411 shares in the company, valued at $5,230,808.55. The trade was a 16.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 541,491 shares of company stock valued at $68,927,496. Corporate 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.