Point72 Asset Management L.P. Acquires Shares of 87,018 Datadog (NASDAQ:DDOG)

Point72 Asset Management L.P. bought a new position in shares of Datadog (NASDAQ:DDOG) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 87,018 shares of the company’s stock, valued at approximately $2,951,000.

Several other large investors have also recently made changes to their positions in DDOG. California State Teachers Retirement System purchased a new position in shares of Datadog in the 3rd quarter valued at approximately $34,000. FNY Investment Advisers LLC purchased a new stake in Datadog in the third quarter worth $161,000. Price Wealth LLC purchased a new stake in Datadog in the third quarter worth $178,000. SG Americas Securities LLC bought a new position in Datadog in the third quarter worth $196,000. Finally, Massachusetts Financial Services Co. MA bought a new position in Datadog in the third quarter worth $383,000. 33.70% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Amit Agarwal purchased 25,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were purchased at an average price of $27.00 per share, for a total transaction of $675,000.00. Also, CFO David M. Obstler purchased 15,000 shares of Datadog stock in a transaction that occurred on Monday, September 23rd. The shares were purchased at an average cost of $27.00 per share, with a total value of $405,000.00. Insiders have bought 571,280 shares of company stock valued at $15,271,460 over the last 90 days.

A number of brokerages have recently commented on DDOG. JMP Securities started coverage on shares of Datadog in a report on Monday, October 14th. They set a “market perform” rating on the stock. Jefferies Financial Group increased their price target on shares of Datadog from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Wednesday, November 13th. They noted that the move was a valuation call. William Blair reissued a “buy” rating on shares of Datadog in a research report on Wednesday, November 13th. Credit Suisse Group initiated coverage on shares of Datadog in a research report on Wednesday, November 6th. They set a “neutral” rating and a $40.00 price target for the company. They noted that the move was a valuation call. Finally, Goldman Sachs Group assumed coverage on shares of Datadog in a research note on Monday, October 14th. They set a “neutral” rating and a $33.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $40.89.

NASDAQ DDOG opened at $37.77 on Wednesday. Datadog has a 12 month low of $27.55 and a 12 month high of $44.09. The business has a fifty day moving average of $36.10. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.94 and a current ratio of 4.94.

About Datadog

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.

Recommended Story: Market Timing – The Benefits and the Danger

Want to see what other hedge funds are holding DDOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Datadog (NASDAQ:DDOG).

Institutional Ownership by Quarter for Datadog (NASDAQ:DDOG)

Receive News & Ratings for Datadog Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Datadog and related companies with MarketBeat.com's FREE daily email newsletter.