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

Jennison Associates LLC cut its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 20.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 325,318 shares of the company's stock after selling 83,947 shares during the quarter. Jennison Associates LLC owned about 0.10% of Datadog worth $39,487,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DDOG. AM Squared Ltd lifted its position in Datadog by 25.0% in the 4th quarter. AM Squared Ltd now owns 500 shares of the company's stock valued at $61,000 after acquiring an additional 100 shares in the last quarter. Sunbelt Securities Inc. increased its stake in shares of Datadog by 5.3% during the 3rd quarter. Sunbelt Securities Inc. now owns 2,177 shares of the company's stock worth $198,000 after purchasing an additional 110 shares during the last quarter. Yousif Capital Management LLC increased its stake in shares of Datadog by 4.9% during the 3rd quarter. Yousif Capital Management LLC now owns 3,083 shares of the company's stock worth $281,000 after purchasing an additional 145 shares during the last quarter. Park Avenue Securities LLC increased its stake in shares of Datadog by 1.3% during the 3rd quarter. Park Avenue Securities LLC now owns 11,410 shares of the company's stock worth $1,039,000 after purchasing an additional 146 shares during the last quarter. Finally, Flagship Harbor Advisors LLC increased its stake in shares of Datadog by 6.9% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 2,339 shares of the company's stock worth $213,000 after purchasing an additional 150 shares during the last quarter. 78.29% of the stock is owned by institutional investors.

Insider Transactions at Datadog

In related news, CEO Olivier Pomel sold 133,315 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $129.82, for a total transaction of $17,306,953.30. Following the transaction, the chief executive officer now directly owns 299,075 shares of the company's stock, valued at $38,825,916.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Datadog news, insider Madre Armelle De sold 600 shares of the firm's stock in a transaction on Monday, April 8th. The shares were sold at an average price of $125.34, for a total value of $75,204.00. Following the completion of the sale, the insider now directly owns 100,353 shares in the company, valued at $12,578,245.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Olivier Pomel sold 133,315 shares of Datadog stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $129.82, for a total transaction of $17,306,953.30. Following the transaction, the chief executive officer now owns 299,075 shares of the company's stock, valued at $38,825,916.50. The disclosure for this sale can be found here. Insiders sold a total of 735,984 shares of company stock worth $94,617,681 over the last three months. 14.97% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Stifel Nicolaus restated a "buy" rating and set a $152.00 price objective on shares of Datadog in a research note on Monday. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $150.00 target price on shares of Datadog in a report on Wednesday, April 17th. Royal Bank of Canada lifted their target price on shares of Datadog from $145.00 to $151.00 and gave the stock an "outperform" rating in a report on Wednesday, February 14th. Citigroup lifted their target price on shares of Datadog from $125.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, January 22nd. Finally, Wells Fargo & Company raised shares of Datadog from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $130.00 to $150.00 in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $131.70.

Datadog Price Performance

Shares of Datadog stock traded up $0.63 on Wednesday, reaching $127.07. 3,279,797 shares of the stock were exchanged, compared to its average volume of 4,047,524. The firm's 50 day moving average is $125.35 and its 200-day moving average is $116.67. Datadog, Inc. has a one year low of $62.60 and a one year high of $138.61. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.17 and a current ratio of 3.17. The firm has a market cap of $42.17 billion, a PE ratio of 1,058.92 and a beta of 1.15.

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

About Datadog

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.