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

Sumitomo Mitsui DS Asset Management Company Ltd decreased its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 2.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA acquired a new position in Datadog in the third quarter valued at approximately $189,668,000. Quintet Private Bank Europe S.A. acquired a new position in shares of Datadog during the 3rd quarter valued at $270,000. Mengis Capital Management Inc. bought a new position in Datadog during the third quarter worth $409,000. Bank of New York Mellon Corp grew its holdings in Datadog by 2.5% in 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 purchasing an additional 33,748 shares during the period. Finally, Cercano Management LLC increased its stake in Datadog by 40.4% in the third 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 in the last quarter. Institutional investors own 78.29% of the company’s stock.

Datadog Stock Up 1.6 %

DDOG opened at $122.07 on Tuesday. Datadog, Inc. has a twelve month low of $62.60 and a twelve month high of $138.61. The company’s 50-day moving average price is $125.63 and its two-hundred day moving average price is $116.37. The stock has a market cap of $40.51 billion, a price-to-earnings ratio of 1,017.25 and a beta of 1.16. The company has a quick ratio of 3.17, a current 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, beating the consensus estimate of $0.43 by $0.01. The business had revenue of $589.65 million for the quarter, compared to the consensus estimate of $568.73 million. Datadog had a return on equity of 3.79% and a net margin of 2.28%. Datadog’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.08) earnings per share. As a group, equities analysts expect that Datadog, Inc. will post -0.14 earnings per share for the current year.

Wall Street Analyst Weigh In

DDOG has been the topic of a number of research analyst reports. Mizuho increased their price objective on shares of Datadog from $108.00 to $130.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Stifel Nicolaus reiterated a “buy” rating and issued a $152.00 price target on shares of Datadog in a report on Monday. Truist Financial boosted their price objective on Datadog from $140.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Royal Bank of Canada increased their target price on Datadog from $145.00 to $151.00 and gave the stock an “outperform” rating in a report on Wednesday, February 14th. Finally, Citigroup lifted their price target on shares of Datadog from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, January 22nd. Six analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat, Datadog has a consensus rating of “Moderate Buy” and a consensus target price of $130.96.

Insider Activity at Datadog

In other Datadog news, insider Madre Armelle De sold 600 shares of the 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 transaction, the insider now owns 100,353 shares in the company, valued at $12,578,245.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Madre Armelle De sold 600 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $125.34, for a total transaction of $75,204.00. Following the sale, the insider now directly owns 100,353 shares in the company, valued at approximately $12,578,245.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Sean Michael Walters sold 10,000 shares of Datadog stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $129.86, for a total transaction of $1,298,600.00. Following the completion of the transaction, the executive now owns 162,706 shares of the company’s stock, valued at $21,129,001.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 745,984 shares of company stock worth $95,917,681. Company insiders own 14.97% of the company’s stock.

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.