Jennison Associates LLC Reduces Position in Datadog, Inc. (NASDAQ:DDOG)

Jennison Associates LLC cut its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 31.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,389,613 shares of the company's stock after selling 2,889,035 shares during the quarter. Jennison Associates LLC owned about 1.86% of Datadog worth $633,914,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Datadog by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company's stock worth $4,337,316,000 after purchasing an additional 220,527 shares during the last quarter. Groupama Asset Managment raised its holdings in shares of Datadog by 407.6% during the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock worth $943,074,000 after purchasing an additional 5,299,688 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Datadog by 9.6% during the fourth quarter. Geode Capital Management LLC now owns 5,684,612 shares of the company's stock worth $811,076,000 after purchasing an additional 499,055 shares during the last quarter. Brown Advisory Inc. raised its holdings in shares of Datadog by 76.5% during the first quarter. Brown Advisory Inc. now owns 4,853,012 shares of the company's stock worth $481,467,000 after purchasing an additional 2,103,838 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Datadog by 4.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 4,656,379 shares of the company's stock worth $461,959,000 after purchasing an additional 180,100 shares during the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Stifel Nicolaus upped their price objective on shares of Datadog from $120.00 to $135.00 and gave the stock a "hold" rating in a research report on Thursday, June 26th. Morgan Stanley upped their price objective on shares of Datadog from $115.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Jefferies Financial Group reiterated a "buy" rating on shares of Datadog in a research report on Tuesday, May 6th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $119.00 price objective on shares of Datadog in a research report on Wednesday, May 7th. Finally, Canaccord Genuity Group decreased their price objective on shares of Datadog from $150.00 to $145.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, Datadog presently has an average rating of "Moderate Buy" and a consensus target price of $145.34.

Datadog Trading Up 1.3%

NASDAQ:DDOG traded up $1.87 on Friday, hitting $145.02. The stock had a trading volume of 3,607,634 shares, compared to its average volume of 5,005,333. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.34. The stock has a market cap of $50.08 billion, a price-to-earnings ratio of 315.27, a PEG ratio of 78.72 and a beta of 1.03. The company has a fifty day moving average price of $127.40 and a two-hundred day moving average price of $120.76. Datadog, Inc. has a 1-year low of $81.63 and a 1-year high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.04. The company had revenue of $761.55 million for the quarter, compared to analyst estimates of $741.73 million. Datadog had a net margin of 5.85% and a return on equity of 6.39%. Datadog's revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 EPS. Equities research analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Datadog news, Director Shardul Shah sold 7,924 shares of the business's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $140.80, for a total value of $1,115,699.20. Following the completion of the transaction, the director owned 380,281 shares in the company, valued at $53,543,564.80. The trade was a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Olivier Pomel sold 32,924 shares of the business's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $146.05, for a total transaction of $4,808,550.20. Following the completion of the transaction, the chief executive officer owned 548,715 shares of the company's stock, valued at approximately $80,139,825.75. This trade represents a 5.66% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 957,666 shares of company stock worth $117,576,223. Insiders own 8.70% of the company's stock.

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.