Quest Partners LLC Increases Position in Datadog, Inc. (NASDAQ:DDOG)

Quest Partners LLC lifted its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 2,323.9% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,115 shares of the company’s stock after buying an additional 1,069 shares during the quarter. Quest Partners LLC’s holdings in Datadog were worth $128,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of DDOG. SouthState Corp bought a new stake in shares of Datadog in the second quarter worth about $26,000. Blue Trust Inc. bought a new stake in Datadog in the 2nd quarter worth approximately $37,000. EverSource Wealth Advisors LLC raised its holdings in shares of Datadog by 70.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock worth $39,000 after acquiring an additional 127 shares in the last quarter. American National Bank & Trust bought a new position in shares of Datadog during the 3rd quarter valued at approximately $39,000. Finally, Versant Capital Management Inc grew its holdings in shares of Datadog by 216.5% in the second quarter. Versant Capital Management Inc now owns 307 shares of the company’s stock valued at $40,000 after purchasing an additional 210 shares in the last quarter. Institutional investors own 78.29% of the company’s stock.

Datadog Price Performance

Shares of DDOG opened at $151.96 on Friday. Datadog, Inc. has a 1-year low of $98.80 and a 1-year high of $157.48. The stock has a market cap of $51.62 billion, a PE ratio of 286.72, a price-to-earnings-growth ratio of 20.50 and a beta of 1.10. The firm has a fifty day moving average price of $127.47 and a 200 day moving average price of $121.02.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Monness Crespi & Hardt raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a research note on Thursday, November 7th. Wedbush upgraded Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. BTIG Research upgraded Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective on the stock in a research report on Thursday, August 1st. Royal Bank of Canada reiterated an “outperform” rating and issued a $151.00 target price on shares of Datadog in a report on Friday, August 9th. Finally, TD Cowen restated a “buy” rating and set a $165.00 price target on shares of Datadog in a report on Tuesday, November 19th. One 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 company. According to data from MarketBeat, Datadog currently has a consensus rating of “Moderate Buy” and an average price target of $150.96.

Insider Buying and Selling

In related news, President Amit Agarwal sold 150,000 shares of the firm’s 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 completion of the sale, the president now owns 214,275 shares in the company, valued at $27,005,078.25. This trade represents a 41.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $129.33, for a total value of $16,438,489.65. Following the completion of the sale, the chief technology officer now directly owns 336,165 shares of the company’s stock, valued at $43,476,219.45. This represents a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 541,491 shares of company stock worth $68,927,496 in the last 90 days. Company 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.