Zweig DiMenna Associates LLC Increases Stake in Datadog, Inc. (NASDAQ:DDOG)

Zweig DiMenna Associates LLC raised its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 22.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 73,550 shares of the company's stock after purchasing an additional 13,350 shares during the period. Zweig DiMenna Associates LLC's holdings in Datadog were worth $8,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in DDOG. Norges Bank acquired a new stake in Datadog in the fourth quarter worth about $202,877,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Datadog during the third quarter worth about $189,668,000. Alkeon Capital Management LLC acquired a new stake in shares of Datadog during the third quarter worth about $127,526,000. Vanguard Group Inc. lifted its holdings in shares of Datadog by 4.7% during the third quarter. Vanguard Group Inc. now owns 26,524,875 shares of the company's stock worth $2,416,151,000 after purchasing an additional 1,191,742 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Datadog by 104.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,084,788 shares of the company's stock worth $315,783,000 after purchasing an additional 1,066,716 shares during the period. Institutional investors and hedge funds own 78.29% of the company's stock.

Datadog Price Performance

Shares of DDOG traded up $3.68 during trading hours on Friday, hitting $124.40. 2,500,657 shares of the stock were exchanged, compared to its average volume of 2,496,336. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.17 and a current ratio of 3.17. Datadog, Inc. has a 12-month low of $62.60 and a 12-month high of $138.61. The company has a market cap of $41.28 billion, a price-to-earnings ratio of 1,036.67 and a beta of 1.15. The stock's 50-day moving average price is $126.73 and its two-hundred day moving average price is $113.55.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. The firm had revenue of $589.65 million during the quarter, compared to analysts' expectations of $568.73 million. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The firm's revenue for the quarter was up 25.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.08) earnings per share. Research analysts expect that Datadog, Inc. will post -0.14 earnings per share for the current year.

Wall Street Analyst Weigh In

DDOG has been the subject of a number of research reports. Robert W. Baird lifted their target price on Datadog from $120.00 to $130.00 and gave the stock a "neutral" rating in a report on Wednesday, February 14th. Citigroup lifted their target price on Datadog from $125.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, January 22nd. BMO Capital Markets reissued an "outperform" rating and issued a $155.00 price target (up from $140.00) on shares of Datadog in a report on Wednesday, February 14th. William Blair reissued an "outperform" rating on shares of Datadog in a report on Friday, February 16th. Finally, Needham & Company LLC boosted their price target on Datadog from $125.00 to $165.00 and gave the company a "buy" rating in a report on Tuesday, February 13th. Six analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $130.33.

Insider Transactions at Datadog

In other news, CFO David M. Obstler sold 3,732 shares of the business's stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $125.36, for a total value of $467,843.52. Following the sale, the chief financial officer now directly owns 275,191 shares of the company's stock, valued at approximately $34,497,943.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO David M. Obstler sold 3,732 shares of the business's stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $125.36, for a total value of $467,843.52. Following the sale, the chief financial officer now directly owns 275,191 shares of the company's stock, valued at approximately $34,497,943.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business's stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $120.08, for a total transaction of $15,262,768.40. Following the completion of the sale, the chief technology officer now directly owns 247,328 shares in the company, valued at $29,699,146.24. The disclosure for this sale can be found here. Insiders have sold a total of 730,390 shares of company stock worth $93,147,705 in the last quarter. Company insiders own 14.97% 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.