Pinebridge Investments L.P. Buys 134,150 Shares of Datadog, Inc. (NASDAQ:DDOG)

Pinebridge Investments L.P. increased its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 247.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 188,266 shares of the company's stock after purchasing an additional 134,150 shares during the period. Pinebridge Investments L.P. owned 0.06% of Datadog worth $26,901,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Retirement Wealth Solutions LLC purchased a new position in Datadog during the fourth quarter valued at approximately $30,000. Avior Wealth Management LLC boosted its stake in Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock valued at $32,000 after buying an additional 81 shares during the period. Kieckhefer Group LLC purchased a new position in Datadog during the fourth quarter worth about $43,000. Summit Securities Group LLC bought a new position in Datadog in the 4th quarter worth about $43,000. Finally, Friedenthal Financial bought a new position in shares of Datadog in the fourth quarter worth approximately $54,000. Hedge funds and other institutional investors own 78.29% of the company's stock.

Datadog Stock Up 1.9 %

DDOG traded up $1.92 during midday trading on Friday, reaching $101.52. The company had a trading volume of 3,025,472 shares, compared to its average volume of 4,351,894. The business has a 50-day moving average of $103.32 and a two-hundred day moving average of $127.47. The company has a market cap of $34.80 billion, a P/E ratio of 199.06, a P/E/G ratio of 44.03 and a beta of 1.20. Datadog, Inc. has a 1 year low of $81.63 and a 1 year high of $170.08.

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

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. UBS Group lowered their price objective on shares of Datadog from $164.00 to $120.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Cantor Fitzgerald began coverage on Datadog in a research report on Friday, January 17th. They set an "overweight" rating and a $180.00 price objective on the stock. Citigroup lowered their price objective on shares of Datadog from $170.00 to $165.00 and set a "buy" rating for the company in a report on Friday, February 14th. Rosenblatt Securities boosted their price target on shares of Datadog from $148.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Finally, Truist Financial decreased their price objective on Datadog from $140.00 to $120.00 and set a "hold" rating on the stock in a report on Monday, March 31st. Seven equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $150.33.

Insiders Place Their Bets

In related news, CEO Olivier Pomel sold 107,365 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $87.33, for a total value of $9,376,185.45. Following the completion of the transaction, the chief executive officer now owns 563,598 shares of the company's stock, valued at approximately $49,219,013.34. This trade represents a 16.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Sean Michael Walters sold 8,454 shares of Datadog stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total transaction of $862,646.16. Following the transaction, the executive now directly owns 185,871 shares of the company's stock, valued at approximately $18,966,276.84. This represents a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 523,756 shares of company stock worth $58,732,500 in the last three months. 11.78% of the stock is owned by company insiders.

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.