Arrowstreet Capital Limited Partnership Acquires 466,985 Shares of Datadog, Inc. (NASDAQ:DDOG)

Arrowstreet Capital Limited Partnership increased its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 158.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 762,583 shares of the company's stock after purchasing an additional 466,985 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.22% of Datadog worth $108,965,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings 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 buying an additional 220,527 shares in the last quarter. Baillie Gifford & Co. increased its position 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 worth $1,558,234,000 after purchasing an additional 1,484,562 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Datadog by 47.9% during the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company's stock valued at $1,325,826,000 after purchasing an additional 3,005,300 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Datadog by 2.5% in the 3rd 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 in the last quarter. Finally, Norges Bank purchased a new position in Datadog during the 4th quarter worth $462,910,000. Institutional investors own 78.29% of the company's stock.

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Analyst Ratings Changes

A number of equities research analysts have recently weighed in on DDOG shares. Loop Capital boosted their price target on Datadog from $160.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, December 23rd. Wolfe Research lowered shares of Datadog from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, February 18th. Morgan Stanley reiterated an "equal weight" rating and set a $143.00 price objective on shares of Datadog in a research note on Thursday, January 16th. Rosenblatt Securities raised their target price on Datadog from $148.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Finally, Stifel Nicolaus downgraded Datadog from a "buy" rating to a "hold" rating and dropped their price target for the company from $165.00 to $140.00 in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $157.22.

Datadog Stock Performance

Datadog stock traded down $6.44 during midday trading on Thursday, reaching $95.27. 3,507,157 shares of the company were exchanged, compared to its average volume of 4,199,325. Datadog, Inc. has a 1 year low of $93.23 and a 1 year high of $170.08. The company has a market capitalization of $32.66 billion, a price-to-earnings ratio of 187.30, a P/E/G ratio of 44.03 and a beta of 1.22. The firm's 50-day simple moving average is $121.49 and its 200-day simple moving average is $130.62.

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

Insiders Place Their Bets

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the firm's stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $141.21, for a total value of $17,948,497.05. Following the sale, the chief technology officer now owns 324,778 shares in the company, valued at approximately $45,861,901.38. This trade represents a 28.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Amit Agarwal sold 25,000 shares of the business's stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $141.12, for a total transaction of $3,528,000.00. Following the sale, the director now owns 195,667 shares in the company, valued at $27,612,527.04. This trade represents a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 601,412 shares of company stock worth $75,444,584 in the last three months. 11.78% of the stock is owned by insiders.

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.