Sierra Summit Advisors LLC Has $10.45 Million Holdings in Datadog, Inc. (NASDAQ:DDOG)

Sierra Summit Advisors LLC grew its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 112.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 80,598 shares of the company’s stock after acquiring an additional 42,727 shares during the period. Datadog comprises 2.6% of Sierra Summit Advisors LLC’s portfolio, making the stock its 10th largest position. Sierra Summit Advisors LLC’s holdings in Datadog were worth $10,453,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Datadog by 0.6% in the first quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock valued at $3,390,485,000 after acquiring an additional 171,693 shares in the last quarter. Sands Capital Management LLC lifted its position in shares of Datadog by 3.7% in the 4th quarter. Sands Capital Management LLC now owns 4,564,776 shares of the company’s stock worth $554,073,000 after purchasing an additional 162,108 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Datadog by 9.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock valued at $511,620,000 after buying an additional 331,808 shares during the period. Norges Bank bought a new position in Datadog in the fourth quarter worth about $384,986,000. Finally, 1832 Asset Management L.P. boosted its position in Datadog by 47.9% during the 4th quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock valued at $317,955,000 after acquiring an additional 848,000 shares in the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Datadog Stock Down 0.3 %

Shares of NASDAQ:DDOG opened at $109.26 on Monday. The firm has a fifty day simple moving average of $116.11 and a two-hundred day simple moving average of $120.08. The stock has a market capitalization of $36.55 billion, a P/E ratio of 341.44, a PEG ratio of 27.84 and a beta of 1.11. Datadog, Inc. has a 52 week low of $77.81 and a 52 week high of $138.61.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.37 by $0.06. The company had revenue of $645.28 million during the quarter, compared to analyst estimates of $624.92 million. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The firm’s revenue was up 26.7% on a year-over-year basis. During the same quarter last year, the business posted $0.36 earnings per share. On average, analysts expect that Datadog, Inc. will post 0.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

DDOG has been the subject of several research reports. Monness Crespi & Hardt raised Datadog from a “sell” rating to a “neutral” rating in a research report on Wednesday, August 7th. UBS Group boosted their price objective on shares of Datadog from $120.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Scotiabank dropped their price target on Datadog from $145.00 to $135.00 and set a “sector outperform” rating on the stock in a research report on Friday, August 9th. Mizuho raised Datadog from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $135.00 to $155.00 in a research report on Tuesday, July 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $151.00 target price on shares of Datadog in a research note on Friday, August 9th. Four analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $139.88.

Insider Transactions at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $130.75, for a total transaction of $16,618,978.75. Following the transaction, the chief technology officer now directly owns 279,025 shares of the company’s stock, valued at $36,482,518.75. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $130.75, for a total transaction of $16,618,978.75. Following the transaction, the chief technology officer now owns 279,025 shares of the company’s stock, valued at approximately $36,482,518.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Madre Armelle De sold 1,749 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $125.00, for a total transaction of $218,625.00. Following the completion of the sale, the insider now directly owns 92,025 shares of the company’s stock, valued at $11,503,125. The disclosure for this sale can be found here. Over the last three months, insiders have sold 561,997 shares of company stock worth $68,517,631. 11.78% of the stock is currently owned by company insiders.

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.