Zweig DiMenna Associates LLC Decreases Holdings in Datadog, Inc. (NASDAQ:DDOG)

Zweig DiMenna Associates LLC lowered its position in Datadog, Inc. (NASDAQ:DDOG) by 0.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,100 shares of the company’s stock after selling 200 shares during the period. Datadog makes up about 1.3% of Zweig DiMenna Associates LLC’s investment portfolio, making the stock its 29th biggest position. Zweig DiMenna Associates LLC’s holdings in Datadog were worth $12,553,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Riverview Trust Co purchased a new stake in Datadog during the first quarter worth $26,000. SouthState Corp acquired a new position in shares of Datadog during the 2nd quarter worth $26,000. Blue Trust Inc. purchased a new stake in shares of Datadog in the 2nd quarter worth about $37,000. EverSource Wealth Advisors LLC grew its stake in Datadog by 70.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock valued at $39,000 after acquiring an additional 127 shares during the last quarter. Finally, American National Bank & Trust acquired a new stake in Datadog in the 3rd quarter valued at about $39,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

Datadog Price Performance

NASDAQ:DDOG opened at $123.89 on Friday. Datadog, Inc. has a 12 month low of $77.81 and a 12 month high of $138.61. The business’s 50-day moving average is $117.21 and its two-hundred day moving average is $119.46. The firm has a market capitalization of $41.44 billion, a PE ratio of 387.16, a price-to-earnings-growth ratio of 22.85 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last announced its earnings results on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.06. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The business had revenue of $645.28 million during the quarter, compared to the consensus estimate of $624.92 million. During the same period in the prior year, the firm earned $0.36 earnings per share. The business’s quarterly revenue was up 26.7% compared to the same quarter last year. Equities analysts anticipate that Datadog, Inc. will post 0.42 EPS for the current year.

Wall Street Analysts Forecast Growth

DDOG has been the topic of several recent research reports. Scotiabank reduced their price target on shares of Datadog from $145.00 to $135.00 and set a “sector outperform” rating on the stock in a report on Friday, August 9th. Barclays reduced their target price on Datadog from $145.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Loop Capital reissued a “buy” rating and set a $160.00 price target on shares of Datadog in a research report on Friday, July 5th. Wedbush raised Datadog from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. Finally, Evercore ISI started coverage on Datadog in a research note on Monday, July 15th. They set an “outperform” rating and a $150.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned 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 company currently has an average rating of “Moderate Buy” and an average price target of $142.43.

Insider Activity

In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $104.21, for a total value of $8,924,231.77. Following the transaction, the chief executive officer now directly owns 405,314 shares of the company’s stock, valued at $42,237,771.94. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Olivier Pomel sold 85,637 shares of Datadog stock in a transaction on Monday, August 5th. The shares were sold at an average price of $104.21, for a total value of $8,924,231.77. Following the completion of the sale, the chief executive officer now owns 405,314 shares in the company, valued at approximately $42,237,771.94. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Sean Michael Walters sold 2,322 shares of the stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $125.00, for a total transaction of $290,250.00. Following the transaction, the executive now owns 183,512 shares in the company, valued at $22,939,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 529,928 shares of company stock worth $63,079,091 over the last ninety days. Corporate insiders own 11.78% of the company’s stock.

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.