Jennison Associates LLC Has $1.33 Billion Position in Datadog, Inc. (NASDAQ:DDOG)

Jennison Associates LLC lifted its holdings in Datadog, Inc. (NASDAQ:DDOG) by 47.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,278,648 shares of the company’s stock after buying an additional 3,005,300 shares during the period. Jennison Associates LLC’s holdings in Datadog were worth $1,325,826,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of DDOG. Retirement Wealth Solutions LLC purchased a new stake in Datadog in the 4th quarter worth approximately $30,000. Avior Wealth Management LLC increased its stake in shares of Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after acquiring an additional 81 shares during the last quarter. True Wealth Design LLC raised its holdings in shares of Datadog by 12,000.0% during the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after acquiring an additional 240 shares in the last quarter. Meeder Asset Management Inc. boosted its position in Datadog by 66.5% during the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after purchasing an additional 115 shares during the last quarter. Finally, Quarry LP purchased a new position in Datadog in the third quarter valued at about $33,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Analysts Set New Price Targets

DDOG has been the subject of a number of recent research reports. Mizuho raised their price target on Datadog from $155.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. DA Davidson raised their price objective 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. Macquarie assumed coverage on shares of Datadog in a research report on Thursday, December 12th. They issued an “outperform” rating and a $200.00 target price for the company. Royal Bank of Canada lifted their price objective on shares of Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Finally, BMO Capital Markets increased their target price on shares of Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.59.

Datadog Stock Performance

NASDAQ DDOG opened at $142.71 on Monday. Datadog, Inc. has a twelve month low of $98.80 and a twelve month high of $170.08. The stock has a market cap of $48.48 billion, a PE ratio of 269.27, a PEG ratio of 16.59 and a beta of 1.15. The firm has a 50-day simple moving average of $147.99 and a 200 day simple moving average of $129.53.

Insiders Place Their Bets

In related news, CEO Olivier Pomel sold 11,195 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $139.86, for a total value of $1,565,732.70. Following the sale, the chief executive officer now owns 379,693 shares of the company’s stock, valued at $53,103,862.98. The trade was a 2.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Kerry Acocella sold 2,488 shares of Datadog stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $158.04, for a total value of $393,203.52. Following the transaction, the general counsel now directly owns 68,758 shares of the company’s stock, valued at approximately $10,866,514.32. The trade was a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 653,874 shares of company stock worth $93,721,154. 11.78% of the stock is currently owned by company 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.