Summit Trail Advisors LLC Decreases Stake in Datadog, Inc. (NASDAQ:DDOG)

Summit Trail Advisors LLC reduced its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 21.6% during the first quarter, according to its most recent filing with the SEC. The fund owned 107,749 shares of the company's stock after selling 29,753 shares during the quarter. Summit Trail Advisors LLC's holdings in Datadog were worth $10,690,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in DDOG. Groupama Asset Managment lifted its holdings in Datadog by 407.6% during the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock valued at $943,074,000 after purchasing an additional 5,299,688 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Datadog by 17,477.2% in the fourth quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company's stock valued at $573,923,000 after purchasing an additional 3,993,707 shares during the period. Norges Bank bought a new stake in shares of Datadog in the fourth quarter valued at approximately $462,910,000. Brown Advisory Inc. lifted its stake in shares of Datadog by 2,804.2% during the 4th quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company's stock valued at $392,830,000 after buying an additional 2,654,512 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Datadog by 341.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,569,341 shares of the company's stock worth $155,694,000 after buying an additional 1,213,475 shares during the period. Hedge funds and other institutional investors own 78.29% of the company's stock.

Datadog Price Performance

NASDAQ:DDOG traded up $2.68 during trading hours on Wednesday, reaching $135.01. The stock had a trading volume of 4,422,220 shares, compared to its average volume of 4,432,421. The stock has a market capitalization of $46.63 billion, a PE ratio of 293.51, a PEG ratio of 73.20 and a beta of 1.03. The company has a 50 day moving average price of $116.99 and a two-hundred day moving average price of $121.01. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.74 and a current ratio of 2.74. Datadog, Inc. has a 52 week low of $81.63 and a 52 week high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.04. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The company had revenue of $761.55 million for the quarter, compared to analyst estimates of $741.73 million. During the same period in the prior year, the company posted $0.44 EPS. The firm's revenue for the quarter was up 24.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Datadog

In related news, Director Shardul Shah sold 7,916 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $120.86, for a total transaction of $956,727.76. Following the completion of the sale, the director directly owned 388,205 shares in the company, valued at approximately $46,918,456.30. The trade was a 2.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Olivier Pomel sold 100,754 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $131.88, for a total value of $13,287,437.52. Following the transaction, the chief executive officer owned 548,715 shares in the company, valued at approximately $72,364,534.20. This represents a 15.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 901,778 shares of company stock valued at $103,817,113. Insiders own 8.70% of the company's stock.

Wall Street Analysts Forecast Growth

DDOG has been the topic of a number of analyst reports. Wells Fargo & Company lowered their target price on shares of Datadog from $140.00 to $115.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. Jefferies Financial Group reiterated a "buy" rating on shares of Datadog in a research note on Tuesday, May 6th. UBS Group increased their price objective on Datadog from $125.00 to $140.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Stifel Nicolaus lifted their target price on Datadog from $120.00 to $135.00 and gave the company a "hold" rating in a report on Thursday, June 26th. Finally, Macquarie decreased their price target on Datadog from $175.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Six analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $143.03.

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.