73,518 Shares in Datadog, Inc. (NASDAQ:DDOG) Purchased by Benchstone Capital Management LP

Benchstone Capital Management LP acquired a new position in shares of Datadog, Inc. (NASDAQ:DDOG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 73,518 shares of the company’s stock, valued at approximately $10,505,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DDOG. Groupama Asset Managment lifted its holdings in Datadog by 407.6% during the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock worth $943,074,000 after buying an additional 5,299,688 shares in the last quarter. Norges Bank acquired a new position in shares of Datadog during the fourth quarter valued at $462,910,000. Jennison Associates LLC boosted its holdings in Datadog by 47.9% in the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after acquiring an additional 3,005,300 shares during the last quarter. Baillie Gifford & Co. increased its position in Datadog by 15.8% in 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 during the period. Finally, William Blair Investment Management LLC bought a new stake in Datadog during the 4th quarter worth about $173,163,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Price Performance

Shares of NASDAQ:DDOG opened at $105.00 on Friday. The business’s 50 day simple moving average is $100.95 and its 200 day simple moving average is $126.47. Datadog, Inc. has a 1 year low of $81.63 and a 1 year high of $170.08. The company has a market capitalization of $35.99 billion, a P/E ratio of 205.89, a P/E/G ratio of 44.03 and a beta of 1.12.

Datadog (NASDAQ:DDOG) last issued 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 return on equity of 8.28% and a net margin of 6.85%. On average, sell-side analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Insider Transactions at Datadog

In related news, CEO Olivier Pomel sold 107,365 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $109.56, for a total transaction of $11,762,909.40. Following the completion of the transaction, the chief executive officer now directly owns 435,793 shares in the company, valued at $47,745,481.08. This represents a 19.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $142.78, for a total transaction of $18,148,051.90. Following the completion of the transaction, the chief technology officer now directly owns 324,778 shares of the company’s stock, valued at approximately $46,371,802.84. The trade was a 28.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 512,561 shares of company stock valued at $57,166,767. Company insiders own 11.78% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on DDOG. Wells Fargo & Company lowered shares of Datadog from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $152.00 to $140.00 in a research note on Thursday, February 13th. Macquarie reaffirmed an “outperform” rating and set a $200.00 target price on shares of Datadog in a report on Tuesday, February 11th. Morgan Stanley cut their price target on Datadog from $143.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Scotiabank decreased their price objective on Datadog from $155.00 to $125.00 and set a “sector outperform” rating for the company in a research note on Tuesday, April 15th. Finally, Wolfe Research lowered Datadog from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Seven investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $150.33.

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.