ING Groep NV Trims Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

ING Groep NV decreased its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 26.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 58,886 shares of the company's stock after selling 20,648 shares during the period. ING Groep NV's holdings in Datadog were worth $7,148,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in DDOG. Massachusetts Financial Services Co. MA purchased a new stake in Datadog during the 3rd quarter worth about $189,668,000. Alkeon Capital Management LLC purchased a new stake in shares of Datadog in the 3rd quarter valued at about $127,526,000. Vanguard Group Inc. raised its holdings in shares of Datadog by 4.7% in the 3rd quarter. Vanguard Group Inc. now owns 26,524,875 shares of the company's stock valued at $2,416,151,000 after acquiring an additional 1,191,742 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of Datadog in the 3rd quarter valued at about $44,939,000. Finally, Eagle Asset Management Inc. raised its holdings in shares of Datadog by 83.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,069,224 shares of the company's stock valued at $97,396,000 after acquiring an additional 486,582 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company's stock.

Analysts Set New Price Targets

DDOG has been the topic of several recent analyst reports. Wedbush reaffirmed an "outperform" rating and issued a $155.00 price target on shares of Datadog in a report on Monday, May 6th. Baird R W raised Datadog from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 8th. Citigroup raised their price objective on Datadog from $125.00 to $150.00 and gave the company a "buy" rating in a report on Monday, January 22nd. Needham & Company LLC reissued a "buy" rating and set a $165.00 price objective on shares of Datadog in a report on Wednesday, May 15th. Finally, Royal Bank of Canada raised their price objective on Datadog from $145.00 to $151.00 and gave the company an "outperform" rating in a report on Wednesday, February 14th. Five analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $135.58.

Insider Activity at Datadog

In related news, CRO Sean Michael Walters sold 20,692 shares of Datadog stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $128.58, for a total transaction of $2,660,577.36. Following the sale, the executive now directly owns 182,593 shares in the company, valued at $23,477,807.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CRO Sean Michael Walters sold 20,692 shares of Datadog stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $128.58, for a total transaction of $2,660,577.36. Following the sale, the executive now directly owns 182,593 shares in the company, valued at $23,477,807.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Madre Armelle De sold 300 shares of Datadog stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $113.37, for a total value of $34,011.00. Following the sale, the insider now owns 100,053 shares in the company, valued at $11,343,008.61. The disclosure for this sale can be found here. Insiders have sold 712,402 shares of company stock worth $89,071,727 over the last ninety days. 11.78% of the stock is owned by corporate insiders.

Datadog Trading Up 1.0 %

Shares of DDOG stock traded up $1.22 during trading hours on Monday, reaching $121.29. The company's stock had a trading volume of 2,359,904 shares, compared to its average volume of 4,208,957. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.34. Datadog, Inc. has a one year low of $77.81 and a one year high of $138.61. The stock has a market capitalization of $40.57 billion, a P/E ratio of 379.03, a P/E/G ratio of 46.78 and a beta of 1.14. The firm's fifty day simple moving average is $123.19 and its 200 day simple moving average is $121.47.

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.