Benchstone Capital Management LP Invests $10.51 Million in Datadog, Inc. (NASDAQ:DDOG)

Benchstone Capital Management LP purchased a new stake in shares of Datadog, Inc. (NASDAQ:DDOG) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 73,518 shares of the company’s stock, valued at approximately $10,505,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Datadog by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company’s stock worth $4,337,316,000 after purchasing an additional 220,527 shares in the last quarter. Baillie Gifford & Co. lifted its position in Datadog by 15.8% in the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock worth $1,558,234,000 after buying an additional 1,484,562 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Datadog by 47.9% during the 4th 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. Groupama Asset Managment grew its holdings in shares of Datadog by 407.6% during the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock valued at $943,074,000 after acquiring an additional 5,299,688 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Datadog by 9.6% in the fourth quarter. Geode Capital Management LLC now owns 5,684,612 shares of the company’s stock worth $811,076,000 after acquiring an additional 499,055 shares during the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on DDOG shares. Jefferies Financial Group restated a “buy” rating and issued a $135.00 target price (down previously from $150.00) on shares of Datadog in a research note on Monday, April 7th. Stifel Nicolaus downgraded Datadog from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $165.00 to $140.00 in a report on Wednesday, January 29th. Macquarie reiterated an “outperform” rating and issued a $200.00 target price on shares of Datadog in a research note on Tuesday, February 11th. UBS Group cut their price target on shares of Datadog from $164.00 to $120.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Finally, Truist Financial decreased their price objective on shares of Datadog from $140.00 to $120.00 and set a “hold” rating for the company in a report on Monday, March 31st. Seven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $150.33.

Datadog Price Performance

DDOG opened at $105.00 on Friday. The company has a market capitalization of $35.99 billion, a P/E ratio of 205.89, a P/E/G ratio of 44.03 and a beta of 1.12. The firm’s fifty day moving average price is $100.95 and its two-hundred day moving average price is $126.47. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $170.08.

Datadog (NASDAQ:DDOG) last issued its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a net margin of 6.85% and a return on equity of 8.28%. On average, equities research analysts expect that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Insider Transactions at Datadog

In other Datadog news, CEO Olivier Pomel sold 107,365 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $87.33, for a total transaction of $9,376,185.45. Following the completion of the transaction, the chief executive officer now directly owns 563,598 shares in the company, valued at $49,219,013.34. This represents a 16.00 % decrease in their ownership of the stock. 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 Datadog stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total value of $862,646.16. Following the transaction, the executive now directly owns 185,871 shares of the company’s stock, valued at approximately $18,966,276.84. The trade was a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 512,561 shares of company stock valued at $57,166,767. 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.