Sumitomo Mitsui DS Asset Management Company Ltd Has $3.99 Million Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Sumitomo Mitsui DS Asset Management Company Ltd decreased its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,886 shares of the company’s stock after selling 688 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Datadog were worth $3,992,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in DDOG. Massachusetts Financial Services Co. MA acquired a new position in shares of Datadog during the third quarter worth approximately $189,668,000. Quintet Private Bank Europe S.A. bought a new position in Datadog in the 3rd quarter valued at $270,000. Mengis Capital Management Inc. bought a new stake in shares of Datadog during the third quarter worth $409,000. Bank of New York Mellon Corp raised its position in shares of Datadog by 2.5% during the third quarter. Bank of New York Mellon Corp now owns 1,378,534 shares of the company’s stock worth $125,571,000 after acquiring an additional 33,748 shares during the last quarter. Finally, Cercano Management LLC lifted its stake in shares of Datadog by 40.4% during the third quarter. Cercano Management LLC now owns 309,560 shares of the company’s stock valued at $28,198,000 after acquiring an additional 89,019 shares during the period. Institutional investors own 78.29% of the company’s stock.

Insiders Place Their Bets

In other news, CRO Sean Michael Walters sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $129.86, for a total value of $1,298,600.00. Following the completion of the sale, the executive now owns 162,706 shares of the company’s stock, valued at approximately $21,129,001.16. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CRO Sean Michael Walters sold 10,000 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $129.86, for a total value of $1,298,600.00. Following the sale, the executive now directly owns 162,706 shares of the company’s stock, valued at approximately $21,129,001.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Madre Armelle De sold 600 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $125.34, for a total transaction of $75,204.00. Following the completion of the sale, the insider now owns 100,353 shares of the company’s stock, valued at $12,578,245.02. The disclosure for this sale can be found here. Insiders have sold 745,984 shares of company stock valued at $95,917,681 in the last 90 days. 14.97% of the stock is currently owned by insiders.

Datadog Stock Performance

Shares of DDOG opened at $122.07 on Tuesday. The stock has a market capitalization of $40.51 billion, a price-to-earnings ratio of 1,017.25 and a beta of 1.16. Datadog, Inc. has a 12 month low of $62.60 and a 12 month high of $138.61. The firm has a fifty day simple moving average of $125.63 and a 200 day simple moving average of $116.37. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 0.37.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $568.73 million. During the same period in the prior year, the business posted ($0.08) EPS. The company’s quarterly revenue was up 25.6% on a year-over-year basis. Research analysts forecast that Datadog, Inc. will post -0.14 EPS for the current fiscal year.

Analyst Ratings Changes

DDOG has been the subject of several recent research reports. Robert W. Baird boosted their price objective on Datadog from $120.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Canaccord Genuity Group restated a “buy” rating and issued a $150.00 price objective on shares of Datadog in a report on Friday, February 23rd. Royal Bank of Canada raised their price objective on shares of Datadog from $145.00 to $151.00 and gave the company an “outperform” rating in a research note on Wednesday, February 14th. Wells Fargo & Company upped their target price on shares of Datadog from $100.00 to $130.00 and gave the company an “equal weight” rating in a research report on Friday, February 9th. Finally, Citigroup raised their price target on Datadog from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. Six research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $130.96.

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.