Datadog, Inc. (NASDAQ:DDOG) Stock Position Lifted by Choreo LLC

Choreo LLC raised its holdings in Datadog, Inc. (NASDAQ:DDOG) by 12.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,892 shares of the company’s stock after acquiring an additional 552 shares during the quarter. Choreo LLC’s holdings in Datadog were worth $704,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Jennison Associates LLC lifted its stake in shares of Datadog by 47.9% in the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock worth $1,325,826,000 after buying an additional 3,005,300 shares during the last quarter. Holocene Advisors LP lifted its stake in shares of Datadog by 205.2% in the third quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock worth $187,878,000 after buying an additional 1,097,815 shares during the last quarter. Champlain Investment Partners LLC acquired a new stake in shares of Datadog in the third quarter worth $52,561,000. Eagle Asset Management Inc. lifted its stake in shares of Datadog by 72.4% in the third quarter. Eagle Asset Management Inc. now owns 914,776 shares of the company’s stock worth $113,844,000 after buying an additional 384,121 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of Datadog by 51.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 608,252 shares of the company’s stock worth $69,985,000 after buying an additional 206,696 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Datadog

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $142.78, for a total transaction of $18,148,051.90. Following the completion of the sale, the chief technology officer now directly owns 324,778 shares of the company’s stock, valued at approximately $46,371,802.84. This represents a 28.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Olivier Pomel sold 178,723 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the transaction, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at $61,236,887.04. This represents a 32.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 777,586 shares of company stock worth $111,444,979. Company insiders own 11.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on DDOG shares. Sanford C. Bernstein reduced their price objective on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. Morgan Stanley restated an “equal weight” rating and issued a $143.00 price objective on shares of Datadog in a research note on Thursday, January 16th. Cantor Fitzgerald began coverage on shares of Datadog in a research report on Friday, January 17th. They set an “overweight” rating and a $180.00 target price on the stock. Robert W. Baird boosted their target price on shares of Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, TD Cowen reaffirmed a “buy” rating and set a $165.00 target price on shares of Datadog in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.10.

Datadog Stock Performance

DDOG opened at $147.10 on Tuesday. The firm’s 50-day simple moving average is $147.06 and its 200-day simple moving average is $130.39. Datadog, Inc. has a twelve month low of $98.80 and a twelve month high of $170.08. The firm has a market cap of $49.97 billion, a price-to-earnings ratio of 277.55, a PEG ratio of 16.83 and a beta of 1.15.

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.