Charles Schwab Investment Management Inc. Purchases 29,404 Shares of Datadog, Inc. (NASDAQ:DDOG)

Charles Schwab Investment Management Inc. raised its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 2.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,176,577 shares of the company’s stock after acquiring an additional 29,404 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.35% of Datadog worth $135,377,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. SouthState Corp acquired a new position in shares of Datadog during the second quarter valued at about $26,000. Meeder Asset Management Inc. increased its position in Datadog by 66.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after buying an additional 115 shares in the last quarter. Blue Trust Inc. acquired a new position in Datadog during the 2nd quarter worth approximately $37,000. Versant Capital Management Inc boosted its holdings in Datadog by 216.5% in the second quarter. Versant Capital Management Inc now owns 307 shares of the company’s stock worth $40,000 after acquiring an additional 210 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Datadog by 70.2% in the first quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock valued at $39,000 after acquiring an additional 127 shares during the period. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. BNP Paribas started coverage on shares of Datadog in a report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price objective on the stock. UBS Group reaffirmed an “underperform” rating on shares of Datadog in a research report on Friday, October 18th. Royal Bank of Canada reissued an “outperform” rating and set a $151.00 price objective on shares of Datadog in a report on Friday, August 9th. DA Davidson raised their target price on Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Wedbush upgraded Datadog from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $150.96.

Insider Activity

In related news, Director Shardul Shah sold 15,832 shares of the business’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $120.02, for a total transaction of $1,900,156.64. Following the sale, the director now directly owns 459,449 shares in the company, valued at approximately $55,143,068.98. The trade was a 3.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated 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 sale, the chief technology officer now directly owns 336,165 shares in the company, 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 541,491 shares of company stock valued at $68,927,496 over the last quarter. Company insiders own 11.78% of the company’s stock.

Datadog Stock Performance

Shares of Datadog stock opened at $154.83 on Monday. The stock has a market capitalization of $52.60 billion, a P/E ratio of 292.14, a P/E/G ratio of 18.83 and a beta of 1.10. Datadog, Inc. has a 52-week low of $98.80 and a 52-week high of $155.42. The stock’s 50-day simple moving average is $124.21 and its 200 day simple moving average is $120.05.

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.