Arrowstreet Capital Limited Partnership Buys 466,985 Shares of Datadog, Inc. (NASDAQ:DDOG)

Arrowstreet Capital Limited Partnership boosted its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 158.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 762,583 shares of the company’s stock after buying an additional 466,985 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Datadog were worth $108,965,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of DDOG. Allworth Financial LP raised its stake in shares of Datadog by 7.7% in the fourth quarter. Allworth Financial LP now owns 1,043 shares of the company’s stock valued at $146,000 after acquiring an additional 75 shares during the period. Spire Wealth Management lifted its stake in Datadog by 21.4% in the fourth quarter. Spire Wealth Management now owns 453 shares of the company’s stock worth $65,000 after purchasing an additional 80 shares during the last quarter. Avior Wealth Management LLC boosted its position in shares of 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. Farther Finance Advisors LLC grew its stake in shares of Datadog by 5.2% during the fourth quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company’s stock valued at $265,000 after buying an additional 92 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in shares of Datadog by 16.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 663 shares of the company’s stock worth $95,000 after buying an additional 94 shares during the period. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Trading Down 3.6 %

Shares of Datadog stock opened at $101.10 on Monday. The firm’s 50 day simple moving average is $123.79 and its two-hundred day simple moving average is $130.95. The firm has a market capitalization of $34.65 billion, a price-to-earnings ratio of 198.24, a PEG ratio of 44.03 and a beta of 1.22. Datadog, Inc. has a 12-month low of $98.30 and a 12-month high of $170.08.

Datadog (NASDAQ:DDOG) last issued its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share (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 predict that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on DDOG shares. Stifel Nicolaus downgraded Datadog from a “buy” rating to a “hold” rating and cut their price objective for the company from $165.00 to $140.00 in a research report on Wednesday, January 29th. Rosenblatt Securities boosted their price target on Datadog from $148.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Citigroup reduced their price objective on Datadog from $170.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Cantor Fitzgerald assumed coverage on Datadog in a report on Friday, January 17th. They issued an “overweight” rating and a $180.00 target price for the company. Finally, Mizuho raised their price target on Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $158.70.

Insider Activity at Datadog

In other news, Director Amit Agarwal sold 25,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $141.12, for a total value of $3,528,000.00. Following the sale, the director now directly owns 195,667 shares of the company’s stock, valued at $27,612,527.04. This represents a 11.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction 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 transaction, the chief technology officer now directly owns 324,778 shares of the company’s stock, valued at approximately $46,371,802.84. This trade represents a 28.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 601,412 shares of company stock worth $75,444,584 over the last quarter. Insiders own 11.78% of the company’s stock.

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.