Sumitomo Mitsui Trust Holdings Inc. Acquires 5,898 Shares of Datadog, Inc. (NASDAQ:DDOG)

Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Datadog, Inc. (NASDAQ:DDOG) by 0.9% in the 4th quarter, Holdings Channel reports. The fund owned 636,740 shares of the company’s stock after buying an additional 5,898 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Datadog were worth $77,288,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA purchased a new stake in Datadog during the 3rd quarter valued at about $189,668,000. Quintet Private Bank Europe S.A. purchased a new stake in Datadog during the 3rd quarter valued at about $270,000. Mengis Capital Management Inc. purchased a new stake in Datadog during the 3rd quarter valued at about $409,000. Bank of New York Mellon Corp grew its position in Datadog by 2.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,378,534 shares of the company’s stock valued at $125,571,000 after purchasing an additional 33,748 shares during the last quarter. Finally, Cercano Management LLC grew its position in Datadog by 40.4% during the 3rd quarter. Cercano Management LLC now owns 309,560 shares of the company’s stock valued at $28,198,000 after purchasing an additional 89,019 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DDOG. Royal Bank of Canada raised their price target on shares of Datadog from $145.00 to $151.00 and gave the company an “outperform” rating in a report on Wednesday, February 14th. Needham & Company LLC raised their price target on shares of Datadog from $125.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Robert W. Baird raised their price target on shares of Datadog from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Truist Financial raised their price target on shares of Datadog from $140.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $150.00 price target on shares of Datadog in a report on Friday, February 23rd. Six research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $130.52.

Insider Buying and Selling

In related news, COO Adam Blitzer sold 20,892 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $128.58, for a total value of $2,686,293.36. Following the sale, the chief operating officer now owns 203,503 shares in the company, valued at $26,166,415.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Datadog news, COO Adam Blitzer sold 20,892 shares of Datadog stock in a transaction on Monday, March 4th. The shares were sold at an average price of $128.58, for a total transaction of $2,686,293.36. Following the completion of the transaction, the chief operating officer now directly owns 203,503 shares of the company’s stock, valued at $26,166,415.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Olivier Pomel sold 133,315 shares of Datadog stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $129.82, for a total transaction of $17,306,953.30. Following the transaction, the chief executive officer now directly owns 299,075 shares of the company’s stock, valued at $38,825,916.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 745,984 shares of company stock worth $95,917,681. Insiders own 14.97% of the company’s stock.

Datadog Trading Down 2.7 %

Datadog stock opened at $123.55 on Thursday. The stock has a market cap of $41.00 billion, a P/E ratio of 1,029.58 and a beta of 1.15. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.17 and a quick ratio of 3.17. Datadog, Inc. has a 1 year low of $62.60 and a 1 year high of $138.61. The firm’s 50 day moving average price is $126.31 and its 200-day moving average price is $115.49.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. Datadog had a net margin of 2.28% and a return on equity of 3.79%. The company had revenue of $589.65 million for the quarter, compared to analysts’ expectations of $568.73 million. During the same quarter in the previous year, the business posted ($0.08) earnings per share. Datadog’s quarterly revenue was up 25.6% on a year-over-year basis. On average, equities analysts predict that Datadog, Inc. will post -0.14 earnings per share for the current fiscal year.

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.