Datadog, Inc. (NASDAQ:DDOG) Shares Purchased by Jennison Associates LLC

Jennison Associates LLC increased its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 47.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,278,648 shares of the company's stock after purchasing an additional 3,005,300 shares during the quarter. Jennison Associates LLC owned 2.73% of Datadog worth $1,325,826,000 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 the company. Spire Wealth Management grew its holdings in shares of Datadog by 21.4% in the 4th quarter. Spire Wealth Management now owns 453 shares of the company's stock worth $65,000 after acquiring an additional 80 shares during the period. Avior Wealth Management LLC raised its holdings in Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock worth $32,000 after purchasing an additional 81 shares during the last quarter. Pathstone Holdings LLC boosted its position in Datadog by 0.4% during the third quarter. Pathstone Holdings LLC now owns 23,152 shares of the company's stock worth $2,664,000 after purchasing an additional 91 shares in the last quarter. GAMMA Investing LLC grew its holdings in Datadog by 19.5% in the third quarter. GAMMA Investing LLC now owns 563 shares of the company's stock valued at $65,000 after purchasing an additional 92 shares during the last quarter. Finally, Parsons Capital Management Inc. RI increased its position in shares of Datadog by 2.0% in the fourth quarter. Parsons Capital Management Inc. RI now owns 4,943 shares of the company's stock valued at $706,000 after buying an additional 96 shares in the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Datadog

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the 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 completion of the sale, the chief technology officer now owns 324,778 shares of the company's stock, valued at $45,861,901.38. This trade represents a 28.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Olivier Pomel sold 178,723 shares of the business's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the transaction, the chief executive officer now directly owns 379,693 shares in the company, valued at approximately $61,236,887.04. The trade was a 32.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 780,979 shares of company stock valued at $111,869,206 over the last 90 days. Corporate insiders own 11.78% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on DDOG. Jefferies Financial Group boosted their price objective on shares of Datadog from $155.00 to $170.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Rosenblatt Securities upped their price target on shares of Datadog from $140.00 to $148.00 and gave the company a "buy" rating in a report on Friday, November 8th. Guggenheim reissued a "neutral" rating on shares of Datadog in a research note on Wednesday, January 22nd. Sanford C. Bernstein reduced their target price on Datadog from $157.00 to $151.00 and set an "outperform" rating on the stock in a research note on Monday, October 21st. Finally, Truist Financial downgraded Datadog from a "buy" rating to a "hold" rating and dropped their price target for the stock from $170.00 to $150.00 in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $157.59.

Datadog Price Performance

NASDAQ DDOG traded down $0.98 during mid-day trading on Wednesday, hitting $144.85. The company's stock had a trading volume of 4,836,855 shares, compared to its average volume of 4,235,811. Datadog, Inc. has a 52-week low of $98.80 and a 52-week high of $170.08. The stock's fifty day simple moving average is $147.55 and its two-hundred day simple moving average is $129.90. The firm has a market capitalization of $49.21 billion, a P/E ratio of 273.31, a price-to-earnings-growth ratio of 16.59 and a beta of 1.15.

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.