5 Large-Cap Stocks With Insider Buying

1. Datadog, Inc. (NASDAQ:DDOG)

Market Cap as of December 14: $25.61 Billion

Number of Hedge Fund Holders: 74

Datadog, Inc. (NASDAQ:DDOG) is a leading provider of cloud-based services for monitoring and analytics which provide data and insights for customers to optimize their operations. On December 14, Oppenheimer analyst Ittai Kidron upgraded Datadog, Inc. (NASDAQ:DDOG) to Outperform from Perform and reiterated his $105 price target.

On December 7, Datadog, Inc. (NASDAQ:DDOG) disclosed that Matthew Jacobson, one of the company’s directors, purchased 192,154 common shares of the company at $69.35 each. The transaction was valued at $13.32 million. As of December 14, Datadog, Inc. (NASDAQ:DDOG) is valued at $25.61 billion. The stock is placed among the large-cap stocks with insider buying.

At the close of Q3 2022, 74 hedge funds were eager on Datadog, Inc. (NASDAQ:DDOG) and disclosed positions worth $2.56 billion in the company. Of those, Tiger Global Management LLC was the top stockholder in the company and disclosed a position worth $512.7 million.

Here is what Baron Funds had to say about Datadog, Inc. (NASDAQ:DDOG) in its third-quarter 2022 investor letter:

“Similarly, we continued scaling up our investment in Datadog, Inc. (NASDAQ:DDOG), recognizing significant opportunities for the long term, while the majority of investors remain preoccupied with the here and now. While the company may see some short-term headwinds to growth (the company reported seeing some impact to its volume-driven logs and Application Performance Management modules), long-term prospects remain bright, in our view. Datadog reported a best-in-class gross retention rate in the “mid-to-high 90s%,” 74% year-over-year revenue growth, and 21% adjusted operating margins.”

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