Jennison Associates LLC Sells 83,947 Shares of Datadog, Inc. (NASDAQ:DDOG)

Jennison Associates LLC lessened its stake in Datadog, Inc. (NASDAQ:DDOG) by 20.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 325,318 shares of the company’s stock after selling 83,947 shares during the quarter. Jennison Associates LLC owned approximately 0.10% of Datadog worth $39,487,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Anchor Investment Management LLC purchased a new position in Datadog during the 4th quarter worth $25,000. BluePath Capital Management LLC purchased a new position in Datadog in the third quarter worth $31,000. Private Trust Co. NA raised its stake in shares of Datadog by 743.3% during the 4th quarter. Private Trust Co. NA now owns 253 shares of the company’s stock worth $31,000 after purchasing an additional 223 shares during the period. AM Squared Ltd purchased a new position in Datadog in the third quarter valued at about $36,000. Finally, Headinvest LLC bought a new position in shares of Datadog during the 3rd quarter valued at approximately $46,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on DDOG shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $150.00 price objective on shares of Datadog in a research note on Wednesday, April 17th. Robert W. Baird lifted their price objective on Datadog from $120.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Royal Bank of Canada upped their price objective on shares of Datadog from $145.00 to $151.00 and gave the company an “outperform” rating in a report on Wednesday, February 14th. William Blair reiterated an “outperform” rating on shares of Datadog in a research note on Friday, February 16th. Finally, Mizuho boosted their target price on shares of Datadog from $108.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Five research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Datadog has an average rating of “Moderate Buy” and an average price target of $131.70.

Insider Activity at Datadog

In related news, CFO David M. Obstler sold 70,000 shares of Datadog stock in a transaction on Monday, March 11th. The shares were sold at an average price of $120.73, for a total value of $8,451,100.00. Following the sale, the chief financial officer now owns 275,191 shares in the company, valued at $33,223,809.43. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Datadog news, CFO David M. Obstler sold 70,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $120.73, for a total transaction of $8,451,100.00. Following the completion of the transaction, the chief financial officer now owns 275,191 shares of the company’s stock, valued at $33,223,809.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David M. Obstler sold 15,000 shares of the stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $130.28, for a total transaction of $1,954,200.00. Following the completion of the transaction, the chief financial officer now owns 275,191 shares of the company’s stock, valued at $35,851,883.48. The disclosure for this sale can be found here. Insiders sold a total of 735,984 shares of company stock worth $94,617,681 over the last quarter. 14.97% of the stock is owned by corporate insiders.

Datadog Stock Performance

Shares of DDOG stock opened at $126.44 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.17 and a current ratio of 3.17. Datadog, Inc. has a fifty-two week low of $62.60 and a fifty-two week high of $138.61. The stock has a 50 day moving average price of $125.53 and a two-hundred day moving average price of $116.60. The company has a market capitalization of $41.96 billion, a P/E ratio of 1,053.67 and a beta of 1.15.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. Datadog had a net margin of 2.28% and a return on equity of 3.79%. The firm had revenue of $589.65 million during the quarter, compared to the consensus estimate of $568.73 million. During the same period in the prior year, the firm posted ($0.08) earnings per share. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. Analysts expect that Datadog, Inc. will post -0.14 earnings per share for the current year.

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.