Plato Investment Management Ltd Buys 1,241 Shares of Datadog, Inc. (NASDAQ:DDOG)

Plato Investment Management Ltd increased its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 22.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,886 shares of the company’s stock after buying an additional 1,241 shares during the quarter. Plato Investment Management Ltd’s holdings in Datadog were worth $792,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. SouthState Corp bought a new stake in Datadog during the second quarter worth $26,000. Blue Trust Inc. bought a new stake in Datadog during the second quarter worth $37,000. Versant Capital Management Inc grew its holdings in Datadog by 216.5% during the second quarter. Versant Capital Management Inc now owns 307 shares of the company’s stock worth $40,000 after buying an additional 210 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Datadog by 70.2% in the first quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock worth $39,000 after purchasing an additional 127 shares during the last quarter. Finally, ORG Partners LLC purchased a new position in Datadog in the second quarter worth $43,000. Institutional investors own 78.29% of the company’s stock.

Datadog Stock Up 2.3 %

Shares of NASDAQ DDOG opened at $131.43 on Friday. The firm has a market capitalization of $44.31 billion, a P/E ratio of 247.98, a P/E/G ratio of 18.45 and a beta of 1.10. The stock’s 50-day simple moving average is $120.42 and its two-hundred day simple moving average is $119.46. Datadog, Inc. has a twelve month low of $98.80 and a twelve month high of $138.61.

Wall Street Analyst Weigh In

Several research firms have weighed in on DDOG. Barclays boosted their price objective on Datadog from $140.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Robert W. Baird boosted their price objective on Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Monness Crespi & Hardt raised Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a research report on Thursday, November 7th. Needham & Company LLC cut their price objective on Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, TD Cowen boosted their price objective on Datadog from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. 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 issued a strong buy rating to the stock. According to MarketBeat, Datadog presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.96.

Insiders Place Their Bets

In other news, Director Matthew Jacobson sold 9,256 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the transaction, the director now directly owns 48,411 shares in the company, valued at approximately $5,230,808.55. This represents a 16.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Kerry Acocella sold 2,452 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $120.06, for a total value of $294,387.12. Following the transaction, the general counsel now owns 74,421 shares in the company, valued at $8,934,985.26. This trade represents a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 320,579 shares of company stock worth $40,386,541 in the last ninety days. 11.78% of the stock is currently owned by insiders.

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.