Datadog, Inc. (NASDAQ:DDOG) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 8.4% during the 3rd quarter, Holdings Channel reports. The firm owned 131,545 shares of the company’s stock after selling 12,118 shares during the period. Principal Financial Group Inc.’s holdings in Datadog were worth $15,136,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Datadog by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock worth $3,390,485,000 after acquiring an additional 171,693 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Datadog by 9.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock worth $511,620,000 after acquiring an additional 331,808 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in shares of Datadog by 5.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,486,600 shares of the company’s stock worth $322,487,000 after acquiring an additional 138,700 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Datadog by 19.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,068,070 shares of the company’s stock worth $138,518,000 after acquiring an additional 172,887 shares during the last quarter. Finally, Kodai Capital Management LP acquired a new position in shares of Datadog in the 1st quarter worth $116,054,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Price Performance

Shares of NASDAQ:DDOG opened at $126.09 on Friday. Datadog, Inc. has a fifty-two week low of $98.80 and a fifty-two week high of $138.61. The business has a 50-day moving average of $120.85 and a two-hundred day moving average of $119.55. The stock has a market capitalization of $42.51 billion, a P/E ratio of 240.74, a P/E/G ratio of 19.20 and a beta of 1.10.

Analysts Set New Price Targets

DDOG has been the topic of a number of recent research reports. DA Davidson lifted their target price on Datadog from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, November 8th. BNP Paribas started coverage on Datadog in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 target price for the company. UBS Group reaffirmed an “underperform” rating on shares of Datadog in a research report on Friday, October 18th. Robert W. Baird raised their target price on Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Sanford C. Bernstein decreased their target price on Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Datadog has a consensus rating of “Moderate Buy” and an average target price of $150.96.

Insiders Place Their Bets

In other news, CEO Olivier Pomel sold 85,637 shares of Datadog stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $122.61, for a total value of $10,499,952.57. Following the transaction, the chief executive officer now directly owns 392,111 shares in the company, valued at approximately $48,076,729.71. The trade was a 17.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog 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 completion of the transaction, the chief technology officer now owns 336,165 shares in the company, valued at $43,476,219.45. The trade was a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 320,579 shares of company stock valued at $40,386,541 over the last quarter. Insiders own 11.78% of the company’s stock.

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.