Alliancebernstein L.P. Boosts Holdings in Datadog, Inc. (NASDAQ:DDOG)

Alliancebernstein L.P. increased its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 138.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 282,285 shares of the company’s stock after buying an additional 164,106 shares during the period. Alliancebernstein L.P.’s holdings in Datadog were worth $40,336,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in DDOG. Axiom Investors LLC DE acquired a new stake in shares of Datadog in the fourth quarter valued at $2,320,000. O Shaughnessy Asset Management LLC increased its holdings in Datadog by 35.5% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 16,071 shares of the company’s stock worth $2,296,000 after purchasing an additional 4,213 shares during the period. Summit Securities Group LLC acquired a new stake in Datadog in the 4th quarter valued at about $43,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Datadog by 158.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 762,583 shares of the company’s stock valued at $108,965,000 after buying an additional 466,985 shares during the period. Finally, Allianz SE acquired a new position in shares of Datadog during the fourth quarter worth about $179,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Olivier Pomel sold 11,195 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $139.86, for a total transaction of $1,565,732.70. Following the completion of the transaction, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at $53,103,862.98. This represents a 2.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $142.78, for a total value of $18,148,051.90. Following the completion of the sale, the chief technology officer now directly owns 324,778 shares in the company, valued at $46,371,802.84. This represents a 28.13 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 601,412 shares of company stock worth $75,444,584. 11.78% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on DDOG shares. Stifel Nicolaus downgraded shares of Datadog from a “buy” rating to a “hold” rating and decreased their price target for the stock from $165.00 to $140.00 in a research note on Wednesday, January 29th. Barclays decreased their price objective on shares of Datadog from $187.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Morgan Stanley reissued an “equal weight” rating and issued a $143.00 target price on shares of Datadog in a report on Thursday, January 16th. DA Davidson lifted their price target on Datadog from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Finally, Cantor Fitzgerald began coverage on Datadog in a research report on Friday, January 17th. They set an “overweight” rating and a $180.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $157.22.

Datadog Stock Down 6.9 %

Shares of DDOG stock opened at $87.93 on Friday. The stock’s 50-day moving average price is $119.52 and its 200 day moving average price is $130.33. The stock has a market capitalization of $30.14 billion, a PE ratio of 172.42, a price-to-earnings-growth ratio of 44.03 and a beta of 1.20. Datadog, Inc. has a 52-week low of $86.57 and a 52-week high of $170.08.

Datadog (NASDAQ:DDOG) last released 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 net margin of 6.85% and a return on equity of 8.28%. Analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current fiscal 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.