Datadog, Inc. (NASDAQ:DDOG) Stock Position Decreased by Summit Trail Advisors LLC

Summit Trail Advisors LLC trimmed its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 1.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 137,000 shares of the company’s stock after selling 1,462 shares during the quarter. Summit Trail Advisors LLC’s holdings in Datadog were worth $15,763,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of DDOG. O Shaughnessy Asset Management LLC boosted its holdings in shares of Datadog by 17.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 9,396 shares of the company’s stock worth $1,161,000 after buying an additional 1,382 shares during the period. UniSuper Management Pty Ltd grew its position in Datadog by 116.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 3,900 shares of the company’s stock worth $482,000 after purchasing an additional 2,100 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in Datadog during the 1st quarter valued at $43,000. Public Employees Retirement Association of Colorado raised its stake in Datadog by 1.4% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 39,033 shares of the company’s stock valued at $4,824,000 after purchasing an additional 553 shares during the period. Finally, Kodai Capital Management LP acquired a new stake in shares of Datadog in the first quarter worth $116,054,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Price Performance

DDOG stock opened at $154.83 on Friday. The company has a 50-day moving average of $124.21 and a two-hundred day moving average of $120.03. The stock has a market capitalization of $52.60 billion, a price-to-earnings ratio of 292.14, a price-to-earnings-growth ratio of 18.83 and a beta of 1.10. Datadog, Inc. has a 52-week low of $98.80 and a 52-week high of $155.42.

Insider Buying and Selling

In related news, CRO Sean Michael Walters sold 2,322 shares of the company’s 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 completion of the transaction, the executive now directly owns 183,512 shares in the company, valued at $22,939,000. This represents a 1.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Amit Agarwal sold 150,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $126.03, for a total transaction of $18,904,500.00. Following the completion of the sale, the president now owns 214,275 shares in the company, valued at $27,005,078.25. This represents a 41.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 541,491 shares of company stock valued at $68,927,496. Insiders own 11.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DDOG. Scotiabank dropped their price target on Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. Barclays increased their price target on shares of Datadog from $140.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Needham & Company LLC lowered their price objective on shares of Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. BNP Paribas initiated coverage on shares of Datadog in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 target price for the company. Finally, Rosenblatt Securities boosted their price target on shares of Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $150.96.

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.