304 Shares in Datadog, Inc. (NASDAQ:DDOG) Acquired by Summit Securities Group LLC

Summit Securities Group LLC acquired a new position in Datadog, Inc. (NASDAQ:DDOG) in the fourth quarter, HoldingsChannel reports. The firm acquired 304 shares of the company’s stock, valued at approximately $43,000.

Other institutional investors also recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new stake in Datadog in the fourth quarter worth $14,884,000. ARK Investment Management LLC raised its holdings in shares of Datadog by 62.7% during the fourth quarter. ARK Investment Management LLC now owns 127,290 shares of the company’s stock valued at $18,188,000 after acquiring an additional 49,050 shares in the last quarter. Y Intercept Hong Kong Ltd raised its holdings in Datadog by 140.1% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company’s stock worth $7,590,000 after purchasing an additional 30,998 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in Datadog by 15.8% in the fourth 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 during the period. Finally, Atom Investors LP bought a new stake in shares of Datadog during the third quarter valued at approximately $1,112,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Insider Buying and Selling

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $141.21, for a total value of $17,948,497.05. Following the completion of the sale, the chief technology officer now owns 324,778 shares in the company, valued at approximately $45,861,901.38. This trade represents a 28.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Sean Michael Walters sold 8,454 shares of the company’s stock in a transaction dated 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 owns 185,871 shares in the company, valued at $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. Insiders sold a total of 601,412 shares of company stock worth $75,444,584 over the last three months. 11.78% of the stock is owned by insiders.

Datadog Stock Down 3.6 %

Datadog stock opened at $101.10 on Monday. Datadog, Inc. has a twelve month low of $98.30 and a twelve month high of $170.08. The company’s 50-day moving average price is $123.79 and its 200-day moving average price is $130.95. The company has a market cap 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 (NASDAQ:DDOG) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a net margin of 6.85% and a return on equity of 8.28%. As a group, sell-side analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Rosenblatt Securities boosted their price objective on shares of Datadog from $148.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Guggenheim reiterated a “neutral” rating on shares of Datadog in a report on Wednesday, January 22nd. Royal Bank of Canada lifted their target price on shares of Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Barclays reduced their price target on shares of Datadog from $187.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Finally, Wolfe Research cut shares of Datadog from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. One research 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.70.

About Datadog

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.