Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of Datadog (NASDAQ:DDOG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 344,581 shares of the company’s stock, valued at approximately $11,685,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in DDOG. Zimmer Partners LP acquired a new stake in shares of Datadog during the 3rd quarter worth $3,391,000. Segantii Capital Management Ltd acquired a new position in Datadog in the third quarter valued at $1,187,000. Voloridge Investment Management LLC purchased a new stake in Datadog during the third quarter valued at about $1,356,000. FNY Investment Advisers LLC purchased a new stake in Datadog during the third quarter valued at about $161,000. Finally, Zweig DiMenna Associates LLC acquired a new stake in Datadog during the third quarter worth about $1,916,000. 33.12% of the stock is owned by institutional investors.
A number of research firms have recently commented on DDOG. Goldman Sachs Group began coverage on Datadog in a report on Monday, October 14th. They issued a “neutral” rating and a $33.00 price objective on the stock. Morgan Stanley began coverage on Datadog in a report on Monday, October 14th. They set an “equal weight” rating and a $39.00 target price for the company. Jefferies Financial Group increased their target price on shares of Datadog from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Wednesday, November 13th. They noted that the move was a valuation call. Royal Bank of Canada initiated coverage on shares of Datadog in a report on Monday, October 14th. They issued a “sector perform” rating and a $39.00 price target on the stock. Finally, Oppenheimer initiated coverage on shares of Datadog in a research report on Thursday, November 21st. They set a “market perform” rating on the stock. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Datadog has a consensus rating of “Hold” and a consensus target price of $40.89.
In related news, CFO David M. Obstler bought 15,000 shares of the stock in a transaction dated Monday, September 23rd. The stock was acquired at an average price of $27.00 per share, for a total transaction of $405,000.00. Also, major shareholder Iconiq Strategic Partners Ii, bought 525,000 shares of the stock in a transaction dated Monday, September 23rd. The stock was bought at an average price of $27.00 per share, with a total value of $14,175,000.00. In the last 90 days, insiders have acquired 571,280 shares of company stock worth $15,271,460.
NASDAQ:DDOG opened at $34.81 on Wednesday. The firm has a 50-day moving average of $36.52. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.94 and a current ratio of 4.94. Datadog has a 12 month low of $27.55 and a 12 month high of $44.09.
Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. Its SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, and log management to provide real-time observability of customers technology stack.
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