Allstate Corp Takes $1.18 Million Position in Datadog, Inc. (NASDAQ:DDOG)

Allstate Corp bought a new position in shares of Datadog, Inc. (NASDAQ:DDOG) in the fourth quarter, Holdings Channel.com reports. The fund bought 8,254 shares of the company’s stock, valued at approximately $1,179,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Datadog by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company’s stock worth $4,337,316,000 after acquiring an additional 220,527 shares in the last quarter. Baillie Gifford & Co. increased its holdings in Datadog by 15.8% in the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock worth $1,558,234,000 after purchasing an additional 1,484,562 shares in the last quarter. Jennison Associates LLC lifted its stake in Datadog by 47.9% in the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after buying an additional 3,005,300 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Datadog by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,185,557 shares of the company’s stock worth $595,438,000 after buying an additional 125,457 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Datadog during the 4th quarter worth approximately $462,910,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on DDOG. Royal Bank of Canada boosted their target price on shares of Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Barclays dropped their price objective on shares of Datadog from $187.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Needham & Company LLC restated a “buy” rating and issued a $160.00 target price on shares of Datadog in a research note on Tuesday, March 4th. Wolfe Research downgraded Datadog from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company lowered Datadog from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $152.00 to $140.00 in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $158.70.

Insider Transactions at Datadog

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $102.15, for a total transaction of $12,983,775.75. Following the sale, the chief technology officer now directly owns 371,865 shares of the company’s stock, valued at $37,986,009.75. This represents a 25.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Shardul Shah sold 7,916 shares of the stock in a transaction dated Wednesday, January 15th. The stock was 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 of the company’s stock, valued at $60,796,804.20. This represents a 1.82 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 601,412 shares of company stock worth $75,444,584. 11.78% of the stock is owned by company insiders.

Datadog Stock Performance

NASDAQ DDOG opened at $101.10 on Monday. The company has a market capitalization 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, Inc. has a 52-week low of $98.30 and a 52-week high of $170.08. The company has a 50-day simple moving average of $123.79 and a 200 day simple moving average of $130.95.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. As a group, analysts forecast that Datadog, Inc. will post 0.34 EPS 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.