Jennison Associates LLC Buys 126,613 Shares of Datadog, Inc. (NASDAQ:DDOG)

Jennison Associates LLC lifted its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 2.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,273,348 shares of the company’s stock after acquiring an additional 126,613 shares during the period. Jennison Associates LLC owned approximately 1.86% of Datadog worth $721,811,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Parnassus Investments LLC increased its position in shares of Datadog by 28.4% during the third quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock worth $21,324,000 after acquiring an additional 40,952 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Datadog during the third quarter worth $1,081,000. Meeder Asset Management Inc. increased its position in shares of Datadog by 66.5% during the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after acquiring an additional 115 shares in the last quarter. Pathstone Holdings LLC increased its position in shares of Datadog by 0.4% during the third quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock worth $2,664,000 after acquiring an additional 91 shares in the last quarter. Finally, Meeder Advisory Services Inc. grew its position in Datadog by 40.1% in the third quarter. Meeder Advisory Services Inc. now owns 5,026 shares of the company’s stock valued at $578,000 after purchasing an additional 1,439 shares in the last quarter. Institutional investors own 78.29% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on DDOG shares. DA Davidson raised their target price on shares of Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Wedbush raised shares of Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. BTIG Research raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 target price for the company in a research report on Thursday, August 1st. Scotiabank decreased their target price on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $151.00 target price on shares of Datadog in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $150.96.

Insider Activity at Datadog

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $129.33, for a total transaction of $16,438,489.65. Following the sale, the chief technology officer now directly owns 336,165 shares of the company’s stock, valued at $43,476,219.45. The trade was a 27.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Amit Agarwal sold 150,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $126.03, for a total transaction of $18,904,500.00. Following the sale, the president now directly owns 214,275 shares in the company, valued at $27,005,078.25. The trade was a 41.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 470,579 shares of company stock valued at $59,291,041. 11.78% of the stock is owned by insiders.

Datadog Trading Up 5.9 %

Shares of Datadog stock opened at $133.41 on Wednesday. The firm has a market capitalization of $45.32 billion, a PE ratio of 251.72, a price-to-earnings-growth ratio of 18.85 and a beta of 1.10. The firm’s 50 day moving average is $122.10 and its 200 day moving average is $119.50. Datadog, Inc. has a 1 year low of $98.80 and a 1 year high of $138.61.

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.