Zweig DiMenna Associates LLC Lowers Holdings in Datadog, Inc. (NASDAQ:DDOG)

Zweig DiMenna Associates LLC decreased its position in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 20.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,775 shares of the company's stock after selling 22,325 shares during the quarter. Zweig DiMenna Associates LLC's holdings in Datadog were worth $12,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Jennison Associates LLC increased its position in shares of Datadog by 2.1% during the 3rd quarter. Jennison Associates LLC now owns 6,273,348 shares of the company's stock valued at $721,811,000 after purchasing an additional 126,613 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Datadog by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,185,557 shares of the company's stock valued at $595,438,000 after purchasing an additional 125,457 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Datadog by 2.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,024,926 shares of the company's stock valued at $232,988,000 after acquiring an additional 46,746 shares during the period. Holocene Advisors LP boosted its holdings in Datadog by 205.2% during the 3rd quarter. Holocene Advisors LP now owns 1,632,870 shares of the company's stock valued at $187,878,000 after acquiring an additional 1,097,815 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Datadog by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,176,577 shares of the company's stock valued at $135,377,000 after acquiring an additional 29,404 shares during the period. Institutional investors own 78.29% of the company's stock.

Datadog Stock Performance

NASDAQ:DDOG traded up $0.79 during mid-day trading on Friday, hitting $140.99. 2,884,896 shares of the company's stock traded hands, compared to its average volume of 3,445,797. The company has a fifty day moving average of $147.06 and a 200 day moving average of $128.82. Datadog, Inc. has a twelve month low of $98.80 and a twelve month high of $170.08. The company has a market capitalization of $47.90 billion, a P/E ratio of 266.02, a P/E/G ratio of 16.28 and a beta of 1.14.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DDOG. Barclays boosted their price objective on Datadog from $155.00 to $187.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Cantor Fitzgerald began coverage on Datadog in a report on Friday, January 17th. They set an "overweight" rating and a $180.00 price objective for the company. Robert W. Baird boosted their price objective on Datadog from $140.00 to $150.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Guggenheim restated a "neutral" rating on shares of Datadog in a report on Wednesday. Finally, Citigroup upped their target price on Datadog from $157.00 to $170.00 and gave the stock a "buy" rating in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $158.45.

Insider Activity

In other news, President Amit Agarwal sold 150,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $126.03, for a total value of $18,904,500.00. Following the transaction, the president now directly owns 214,275 shares of the company's stock, valued at approximately $27,005,078.25. This represents a 41.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Olivier Pomel sold 178,723 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $161.28, for a total value of $28,824,445.44. Following the completion of the transaction, the chief executive officer now directly owns 379,693 shares in the company, valued at $61,236,887.04. This represents a 32.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 642,679 shares of company stock valued at $92,155,421. Company insiders own 11.78% 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.