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

Jennison Associates LLC decreased its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 31.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,389,613 shares of the company’s stock after selling 2,889,035 shares during the quarter. Jennison Associates LLC owned about 1.86% of Datadog worth $633,914,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of DDOG. OVERSEA CHINESE BANKING Corp Ltd raised its position in Datadog by 887.0% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 25,199 shares of the company’s stock worth $25,000 after acquiring an additional 22,646 shares in the last quarter. Cornerstone Planning Group LLC grew its stake in Datadog by 96.9% during the 1st quarter. Cornerstone Planning Group LLC now owns 313 shares of the company’s stock valued at $30,000 after acquiring an additional 154 shares in the last quarter. Putney Financial Group LLC bought a new stake in shares of Datadog in the 4th quarter valued at approximately $32,000. Elequin Capital LP bought a new stake in shares of Datadog in the 4th quarter valued at approximately $34,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Datadog in the 1st quarter valued at approximately $37,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

Insider Activity

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $105.83, for a total value of $13,451,522.15. Following the sale, the chief technology officer directly owned 466,535 shares of the company’s stock, valued at approximately $49,373,399.05. This trade represents a 21.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Amit Agarwal sold 25,000 shares of Datadog stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $117.02, for a total value of $2,925,500.00. Following the transaction, the director owned 76,052 shares in the company, valued at approximately $8,899,605.04. The trade was a 24.74% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 957,666 shares of company stock valued at $117,576,223. 8.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on DDOG shares. BTIG Research set a $136.00 target price on Datadog and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Bank of America raised their target price on Datadog from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, July 7th. Jefferies Financial Group restated a “buy” rating on shares of Datadog in a research note on Tuesday, May 6th. Rosenblatt Securities decreased their price target on Datadog from $160.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, May 5th. Finally, Scotiabank set a $130.00 price target on Datadog and gave the company an “outperform” rating in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Datadog currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.34.

Datadog Trading Down 0.1%

DDOG opened at $143.06 on Friday. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.34. Datadog, Inc. has a 1-year low of $81.63 and a 1-year high of $170.08. The firm has a 50-day moving average price of $126.66 and a two-hundred day moving average price of $120.74. The stock has a market capitalization of $49.41 billion, a PE ratio of 311.44, a PEG ratio of 76.64 and a beta of 1.03.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.04. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The firm had revenue of $761.55 million during the quarter, compared to analyst estimates of $741.73 million. During the same quarter last year, the business earned $0.44 EPS. The company’s revenue was up 24.6% compared to the same quarter last year. As a group, equities analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

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.