Allstate Corp Purchases New Holdings in Datadog, Inc. (NASDAQ:DDOG)

Allstate Corp purchased a new position in shares of Datadog, Inc. (NASDAQ:DDOG) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 8,254 shares of the company’s stock, valued at approximately $1,179,000.

A number of other institutional investors have also added to or reduced their stakes in DDOG. True Wealth Design LLC grew its position in shares of Datadog by 12,000.0% in the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after acquiring an additional 240 shares during the period. Retirement Wealth Solutions LLC bought a new position in Datadog during the fourth quarter worth about $30,000. Avior Wealth Management LLC increased its position in Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after buying an additional 81 shares during the last quarter. Quarry LP bought a new stake in Datadog in the third quarter valued at approximately $33,000. Finally, Kieckhefer Group LLC acquired a new stake in shares of Datadog in the fourth quarter valued at approximately $43,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on DDOG shares. DA Davidson boosted their target price on Datadog from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Stifel Nicolaus lowered shares of Datadog from a “buy” rating to a “hold” rating and dropped their price objective for the company from $165.00 to $140.00 in a research report on Wednesday, January 29th. Cantor Fitzgerald initiated coverage on shares of Datadog in a research note on Friday, January 17th. They set an “overweight” rating and a $180.00 target price for the company. Citigroup decreased their price target on shares of Datadog from $170.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. Finally, Macquarie restated an “outperform” rating and set a $200.00 price objective on shares of Datadog in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Datadog presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.70.

Datadog Trading Down 3.6 %

Shares of Datadog stock opened at $101.10 on Monday. The firm’s 50 day moving average is $123.79 and its 200 day moving average is $130.95. The firm 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 1 year low of $98.30 and a 1 year high of $170.08.

Datadog (NASDAQ:DDOG) last posted its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share 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, research analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current year.

Insiders Place Their Bets

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction that occurred on 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. The trade was a 25.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Sean Michael Walters sold 8,454 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total transaction of $862,646.16. Following the transaction, the executive now directly owns 185,871 shares of the company’s stock, valued at $18,966,276.84. The trade was a 4.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 601,412 shares of company stock valued at $75,444,584 in the last 90 days. Corporate insiders own 11.78% of the company’s stock.

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.