Jennison Associates LLC Has $721.81 Million Holdings in Datadog, Inc. (NASDAQ:DDOG)

Jennison Associates LLC grew its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 2.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,273,348 shares of the company's stock after purchasing an additional 126,613 shares during the quarter. Jennison Associates LLC owned approximately 1.86% of Datadog worth $721,811,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. SouthState Corp acquired a new stake in shares of Datadog in the 2nd quarter worth approximately $26,000. Meeder Asset Management Inc. increased its position in shares of Datadog by 66.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company's stock valued at $33,000 after purchasing an additional 115 shares during the period. Blue Trust Inc. bought a new stake in shares of Datadog in the 2nd quarter worth $37,000. Versant Capital Management Inc lifted its holdings in shares of Datadog by 216.5% in the second quarter. Versant Capital Management Inc now owns 307 shares of the company's stock valued at $40,000 after buying an additional 210 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in Datadog by 70.2% during the first quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company's stock valued at $39,000 after buying an additional 127 shares in the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. UBS Group reissued an "underperform" rating on shares of Datadog in a report on Friday, October 18th. Scotiabank reduced their target price on shares of Datadog from $135.00 to $133.00 and set a "sector outperform" rating for the company in a report on Friday, November 8th. Sanford C. Bernstein decreased their price target on shares of Datadog from $157.00 to $151.00 and set an "outperform" rating on the stock in a research report on Monday, October 21st. Citigroup increased their price objective on Datadog from $150.00 to $157.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Finally, Rosenblatt Securities lifted their target price on Datadog from $140.00 to $148.00 and gave the stock a "buy" rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, one has assigned 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, Datadog currently has an average rating of "Moderate Buy" and an average price target of $150.96.

Datadog Trading Up 1.5 %

Datadog stock traded up $2.04 during mid-day trading on Wednesday, hitting $135.45. 6,080,359 shares of the company's stock were exchanged, compared to its average volume of 3,864,271. Datadog, Inc. has a 1-year low of $98.80 and a 1-year high of $138.61. The stock has a 50 day moving average of $122.10 and a two-hundred day moving average of $119.50. The stock has a market cap of $46.02 billion, a P/E ratio of 251.72, a P/E/G ratio of 18.85 and a beta of 1.10.

Insider Activity at Datadog

In related news, President Amit Agarwal sold 150,000 shares of the business's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $126.03, for a total transaction of $18,904,500.00. Following the transaction, the president now directly owns 214,275 shares in the company, valued at $27,005,078.25. The trade was a 41.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO David M. Obstler sold 33,333 shares of the firm's stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $130.39, for a total value of $4,346,289.87. Following the completion of the sale, the chief financial officer now owns 314,158 shares of the company's stock, valued at $40,963,061.62. This represents a 9.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 470,579 shares of company stock worth $59,291,041. 11.78% of the stock is owned by insiders.

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.