Bouvel Investment Partners LLC Acquires Shares of 19,766 Datadog, Inc. (NASDAQ:DDOG)

Bouvel Investment Partners LLC purchased a new stake in shares of Datadog, Inc. (NASDAQ:DDOG) in the third quarter, according to its most recent filing with the SEC. The firm purchased 19,766 shares of the company’s stock, valued at approximately $2,274,000.

A number of other hedge funds have also made changes to their positions in DDOG. SouthState Corp purchased a new stake in shares of Datadog during the second quarter worth about $26,000. Blue Trust Inc. purchased a new stake in Datadog during the 2nd quarter worth $37,000. Versant Capital Management Inc boosted its holdings in 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 during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Datadog by 70.2% during the first quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock worth $39,000 after buying an additional 127 shares in the last quarter. Finally, ORG Partners LLC bought a new stake in shares of Datadog in the 2nd quarter worth about $43,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Stock Up 4.1 %

Shares of DDOG stock opened at $128.45 on Thursday. Datadog, Inc. has a 12-month low of $98.80 and a 12-month high of $138.61. The business has a 50-day moving average price of $120.03 and a two-hundred day moving average price of $119.40. The firm has a market cap of $43.31 billion, a P/E ratio of 242.36, a price-to-earnings-growth ratio of 18.45 and a beta of 1.10.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $151.00 price target on shares of Datadog in a research report on Friday, August 9th. Scotiabank cut their price objective on Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. Needham & Company LLC reduced their price objective on shares of Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Citigroup upped their price target on Datadog from $150.00 to $157.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $150.00 target price on shares of Datadog in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Datadog currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.96.

Insider Transactions at Datadog

In related news, Director Matthew Jacobson sold 3,393 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $125.03, for a total transaction of $424,226.79. Following the completion of the transaction, the director now owns 695,086 shares of the company’s stock, valued at $86,906,602.58. 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 at this hyperlink. In other news, Director Matthew Jacobson sold 3,393 shares of the firm’s 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 sale, the director now owns 695,086 shares of the company’s stock, valued at $86,906,602.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Kerry Acocella sold 2,452 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $120.06, for a total transaction of $294,387.12. Following the completion of the sale, the general counsel now owns 74,421 shares in the company, valued at $8,934,985.26. This represents 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. 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.