Pier 88 Investment Partners LLC Has $1.07 Million Stake in Datadog, Inc. (NASDAQ:DDOG)

Pier 88 Investment Partners LLC grew its stake in Datadog, Inc. (NASDAQ:DDOG) by 10.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,270 shares of the company’s stock after purchasing an additional 850 shares during the period. Pier 88 Investment Partners LLC’s holdings in Datadog were worth $1,067,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in DDOG. Baader Bank Aktiengesellschaft boosted its position in Datadog by 1.5% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 5,077 shares of the company’s stock worth $657,000 after buying an additional 77 shares during the period. GAMMA Investing LLC boosted its holdings in Datadog by 19.5% in the third quarter. GAMMA Investing LLC now owns 563 shares of the company’s stock valued at $65,000 after acquiring an additional 92 shares during the last quarter. HB Wealth Management LLC raised its holdings in Datadog by 5.2% during the 2nd quarter. HB Wealth Management LLC now owns 1,926 shares of the company’s stock worth $250,000 after purchasing an additional 95 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of Datadog by 1.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 8,867 shares of the company’s stock worth $1,096,000 after purchasing an additional 103 shares during the period. Finally, WR Wealth Planners LLC lifted its position in shares of Datadog by 31.6% in the 2nd quarter. WR Wealth Planners LLC now owns 433 shares of the company’s stock worth $56,000 after purchasing an additional 104 shares during the period. 78.29% of the stock is owned by institutional investors.

Datadog Price Performance

Shares of DDOG stock opened at $128.45 on Thursday. The firm has a 50-day moving average of $120.03 and a 200-day moving average of $119.40. Datadog, Inc. has a one year low of $98.80 and a one year high of $138.61. The company has a market cap of $43.31 billion, a P/E ratio of 242.36, a P/E/G ratio of 18.45 and a beta of 1.10.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. BTIG Research raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 target price for the company in a research note on Thursday, August 1st. Barclays upped their target price on Datadog from $140.00 to $155.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Needham & Company LLC lowered their target price on Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a report on Friday, August 9th. Sanford C. Bernstein cut their price target on Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. Finally, DA Davidson lifted their price objective on shares of Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.96.

Insiders Place Their Bets

In other Datadog news, CRO Sean Michael Walters sold 2,322 shares of Datadog stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $125.00, for a total transaction of $290,250.00. Following the transaction, the executive now owns 183,512 shares of the company’s stock, valued at $22,939,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CRO Sean Michael Walters sold 2,322 shares of Datadog stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $125.00, for a total transaction of $290,250.00. Following the sale, the executive now directly owns 183,512 shares in the company, valued at $22,939,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Matthew Jacobson sold 3,393 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $125.03, for a total transaction of $424,226.79. Following the transaction, the director now owns 695,086 shares of the company’s stock, valued at approximately $86,906,602.58. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 320,579 shares of company stock valued at $40,386,541. Corporate insiders own 11.78% of the company’s stock.

About Datadog

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.