Sumitomo Mitsui Trust Holdings Inc. Acquires 184,231 Shares of Datadog, Inc. (NASDAQ:DDOG)

Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Datadog, Inc. (NASDAQ:DDOG) by 28.9% in the 1st quarter, Holdings Channel reports. The fund owned 820,971 shares of the company’s stock after purchasing an additional 184,231 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Datadog were worth $101,472,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Panagora Asset Management Inc. boosted its position in shares of Datadog by 1.0% in the fourth quarter. Panagora Asset Management Inc. now owns 9,026 shares of the company’s stock valued at $1,096,000 after acquiring an additional 89 shares during the period. Benjamin F. Edwards & Company Inc. lifted its position in Datadog by 17.9% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 639 shares of the company’s stock worth $78,000 after purchasing an additional 97 shares during the period. AM Squared Ltd lifted its position in Datadog by 25.0% in the fourth quarter. AM Squared Ltd now owns 500 shares of the company’s stock worth $61,000 after purchasing an additional 100 shares during the period. Yousif Capital Management LLC lifted its position in Datadog by 3.2% in the fourth quarter. Yousif Capital Management LLC now owns 3,183 shares of the company’s stock worth $386,000 after purchasing an additional 100 shares during the period. Finally, Sunbelt Securities Inc. lifted its position in Datadog by 5.3% in the third quarter. Sunbelt Securities Inc. now owns 2,177 shares of the company’s stock worth $198,000 after purchasing an additional 110 shares during the period. 78.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on DDOG shares. Baird R W raised Datadog from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $146.00 target price on shares of Datadog in a research report on Monday, May 6th. Wells Fargo & Company raised Datadog from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $130.00 to $150.00 in a research report on Tuesday, April 23rd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $152.00 target price on shares of Datadog in a research report on Monday, April 22nd. Finally, BMO Capital Markets cut their price objective on Datadog from $155.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.04.

Insider Buying and Selling at Datadog

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $130.75, for a total value of $16,618,978.75. Following the sale, the chief technology officer now owns 279,025 shares in the company, valued at approximately $36,482,518.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Datadog news, CEO Olivier Pomel sold 98,690 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $109.16, for a total transaction of $10,773,000.40. Following the transaction, the chief executive officer now owns 324,539 shares of the company’s stock, valued at approximately $35,426,677.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $130.75, for a total value of $16,618,978.75. Following the transaction, the chief technology officer now directly owns 279,025 shares in the company, valued at approximately $36,482,518.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 833,242 shares of company stock worth $99,862,497. Corporate insiders own 11.78% of the company’s stock.

Datadog Trading Down 0.2 %

NASDAQ:DDOG opened at $131.50 on Thursday. Datadog, Inc. has a fifty-two week low of $77.81 and a fifty-two week high of $138.61. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 3.43. The stock has a market capitalization of $43.99 billion, a PE ratio of 410.94, a price-to-earnings-growth ratio of 42.70 and a beta of 1.11. The business’s 50-day simple moving average is $120.09 and its 200-day simple moving average is $123.34.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.20. Datadog had a return on equity of 7.48% and a net margin of 5.11%. The business had revenue of $611.25 million for the quarter, compared to analysts’ expectations of $589.97 million. Sell-side analysts expect that Datadog, Inc. will post 0.32 earnings per share for the current fiscal year.

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.