Allstate Corp Takes Position in Datadog, Inc. (NASDAQ:DDOG)

Allstate Corp purchased a new stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,254 shares of the company's stock, valued at approximately $1,179,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Datadog by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company's stock valued at $4,337,316,000 after purchasing an additional 220,527 shares during the last quarter. Baillie Gifford & Co. raised its stake in shares of Datadog by 15.8% during the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company's stock valued at $1,558,234,000 after acquiring an additional 1,484,562 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Datadog by 47.9% during the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company's stock worth $1,325,826,000 after purchasing an additional 3,005,300 shares during the period. Geode Capital Management LLC grew its stake in shares of Datadog by 2.5% in the third quarter. Geode Capital Management LLC now owns 5,185,557 shares of the company's stock worth $595,438,000 after purchasing an additional 125,457 shares during the last quarter. Finally, Norges Bank acquired a new stake in Datadog in the fourth quarter valued at $462,910,000. Institutional investors own 78.29% of the company's stock.

Datadog Trading Down 6.2 %

Shares of DDOG stock traded down $6.35 during trading hours on Thursday, reaching $95.36. The company's stock had a trading volume of 3,427,428 shares, compared to its average volume of 5,039,651. The firm's fifty day simple moving average is $121.49 and its 200 day simple moving average is $130.62. Datadog, Inc. has a one year low of $93.15 and a one year high of $170.08. The stock has a market capitalization of $32.69 billion, a P/E ratio of 186.76, a P/E/G ratio of 44.03 and a beta of 1.22.

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Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. As a group, equities research analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Olivier Pomel sold 11,195 shares of the company's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $139.86, for a total transaction of $1,565,732.70. Following the completion of the sale, the chief executive officer now owns 379,693 shares in the company, valued at approximately $53,103,862.98. This represents a 2.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amit Agarwal sold 25,000 shares of the firm's stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $141.12, for a total value of $3,528,000.00. Following the completion of the transaction, the director now directly owns 195,667 shares in the company, valued at $27,612,527.04. The trade was a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 601,412 shares of company stock worth $75,444,584 in the last three months. Insiders own 11.78% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Macquarie reissued an "outperform" rating and issued a $200.00 price target on shares of Datadog in a research note on Tuesday, February 11th. Citigroup lowered their price objective on Datadog from $170.00 to $165.00 and set a "buy" rating for the company in a research report on Friday, February 14th. Rosenblatt Securities lifted their target price on Datadog from $148.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Cantor Fitzgerald assumed coverage on shares of Datadog in a research note on Friday, January 17th. They issued an "overweight" rating and a $180.00 price objective for the company. Finally, Wolfe Research lowered shares of Datadog from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Datadog currently has a consensus rating of "Moderate Buy" and a consensus price target of $157.22.

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.