Zweig DiMenna Associates LLC Sells 22,325 Shares of Datadog, Inc. (NASDAQ:DDOG)

Zweig DiMenna Associates LLC trimmed its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 20.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 86,775 shares of the company’s stock after selling 22,325 shares during the quarter. Zweig DiMenna Associates LLC’s holdings in Datadog were worth $12,399,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Holocene Advisors LP boosted its stake in shares of Datadog by 205.2% during the third quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock valued at $187,878,000 after purchasing an additional 1,097,815 shares in the last quarter. Champlain Investment Partners LLC acquired a new position in Datadog in the third quarter valued at approximately $52,561,000. Eagle Asset Management Inc. lifted its stake in Datadog by 72.4% in the third quarter. Eagle Asset Management Inc. now owns 914,776 shares of the company’s stock valued at $113,844,000 after buying an additional 384,121 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in Datadog by 51.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 608,252 shares of the company’s stock valued at $69,985,000 after buying an additional 206,696 shares during the period. Finally, Employees Retirement System of Texas increased its holdings in shares of Datadog by 28.7% during the second quarter. Employees Retirement System of Texas now owns 615,379 shares of the company’s stock valued at $79,809,000 after acquiring an additional 137,073 shares in the last quarter. 78.29% of the stock is currently owned by institutional investors.

Datadog Price Performance

DDOG opened at $142.09 on Friday. The stock’s 50 day simple moving average is $146.89 and its 200 day simple moving average is $128.74. Datadog, Inc. has a 1 year low of $98.80 and a 1 year high of $170.08. The firm has a market cap of $48.27 billion, a price-to-earnings ratio of 268.10, a PEG ratio of 16.28 and a beta of 1.14.

Insiders Place Their Bets

In other Datadog news, CEO Olivier Pomel sold 178,723 shares of Datadog stock in a transaction on Monday, December 9th. The stock was sold at an average price of $161.28, for a total value of $28,824,445.44. Following the completion of the sale, the chief executive officer now owns 379,693 shares of the company’s stock, valued at approximately $61,236,887.04. This trade represents a 32.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David M. Obstler sold 33,334 shares of Datadog stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $135.95, for a total value of $4,531,757.30. Following the completion of the sale, the chief financial officer now directly owns 314,158 shares of the company’s stock, valued at approximately $42,709,780.10. The trade was a 9.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 617,679 shares of company stock worth $88,668,671. 11.78% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wedbush upgraded Datadog from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. DA Davidson upped their price target on Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, November 8th. BNP Paribas started coverage on Datadog in a report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price objective on the stock. UBS Group restated an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. Finally, Cantor Fitzgerald started coverage on Datadog in a research note on Friday, January 17th. They issued an “overweight” rating and a $180.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $158.45.

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.