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

Arrowstreet Capital Limited Partnership raised its holdings in Datadog, Inc. (NASDAQ:DDOG) by 158.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 762,583 shares of the company’s stock after buying an additional 466,985 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.22% of Datadog worth $108,965,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Townsquare Capital LLC increased its position in Datadog by 50.5% during the 3rd quarter. Townsquare Capital LLC now owns 2,871 shares of the company’s stock valued at $330,000 after purchasing an additional 963 shares during the period. Freedom Investment Management Inc. bought a new stake in shares of Datadog during the 3rd quarter valued at about $419,000. CreativeOne Wealth LLC purchased a new position in shares of Datadog during the third quarter valued at about $302,000. Rockefeller Capital Management L.P. raised its stake in Datadog by 3.5% in the third quarter. Rockefeller Capital Management L.P. now owns 15,172 shares of the company’s stock worth $1,746,000 after buying an additional 511 shares in the last quarter. Finally, Captrust Financial Advisors lifted its holdings in Datadog by 16.5% in the third quarter. Captrust Financial Advisors now owns 9,513 shares of the company’s stock worth $1,095,000 after buying an additional 1,349 shares during the period. 78.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on DDOG shares. Guggenheim reiterated a “neutral” rating on shares of Datadog in a report on Wednesday, January 22nd. Cantor Fitzgerald assumed coverage on Datadog in a report on Friday, January 17th. They issued an “overweight” rating and a $180.00 price objective for the company. Wolfe Research cut shares of Datadog from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 target price on shares of Datadog in a research report on Tuesday, March 4th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $143.00 price target on shares of Datadog in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $158.70.

Datadog Stock Performance

Datadog stock opened at $101.10 on Monday. Datadog, Inc. has a one year low of $98.30 and a one year high of $170.08. The stock has a fifty day moving average of $123.79 and a 200 day moving average of $130.95. The stock has a market cap of $34.65 billion, a PE ratio of 198.24, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a net margin of 6.85% and a return on equity of 8.28%. As a group, sell-side analysts predict that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Insider Transactions at Datadog

In related news, Director Shardul Shah sold 7,916 shares of Datadog stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $142.12, for a total transaction of $1,125,021.92. Following the transaction, the director now owns 427,785 shares in the company, valued at approximately $60,796,804.20. The trade was a 1.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total value of $17,948,497.05. Following the sale, the chief technology officer now owns 324,778 shares of the company’s stock, valued at $45,861,901.38. This represents a 28.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 601,412 shares of company stock worth $75,444,584 in the last 90 days. 11.78% of the stock is currently owned by insiders.

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.