Sumitomo Mitsui DS Asset Management Company Ltd Boosts Position in Datadog, Inc. (NASDAQ:DDOG)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Datadog, Inc. (NASDAQ:DDOG) by 79.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 63,114 shares of the company’s stock after purchasing an additional 27,890 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Datadog were worth $9,018,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Spire Wealth Management boosted its holdings in shares of Datadog by 21.4% in the fourth quarter. Spire Wealth Management now owns 453 shares of the company’s stock worth $65,000 after buying an additional 80 shares during the last quarter. Avior Wealth Management LLC boosted its stake in shares of Datadog by 55.9% during the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after acquiring an additional 81 shares during the last quarter. Pathstone Holdings LLC grew its position in shares of Datadog by 0.4% during the 3rd quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock valued at $2,664,000 after acquiring an additional 91 shares during the period. GAMMA Investing LLC increased its stake in shares of Datadog by 19.5% in the 3rd quarter. GAMMA Investing LLC now owns 563 shares of the company’s stock worth $65,000 after purchasing an additional 92 shares in the last quarter. Finally, Parsons Capital Management Inc. RI raised its holdings in Datadog by 2.0% in the 4th quarter. Parsons Capital Management Inc. RI now owns 4,943 shares of the company’s stock worth $706,000 after purchasing an additional 96 shares during the period. 78.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on DDOG. Cantor Fitzgerald started coverage on Datadog in a research report on Friday, January 17th. They issued an “overweight” rating and a $180.00 price target for the company. Citigroup increased their target price on shares of Datadog from $157.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Robert W. Baird lifted their price target on shares of Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Truist Financial lowered shares of Datadog from a “buy” rating to a “hold” rating and dropped their price target for the stock from $170.00 to $150.00 in a research report on Tuesday, January 7th. Finally, Guggenheim restated a “neutral” rating on shares of Datadog in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $157.59.

Datadog Price Performance

Shares of DDOG stock opened at $142.65 on Friday. The company has a market cap of $48.46 billion, a PE ratio of 269.16, a price-to-earnings-growth ratio of 16.59 and a beta of 1.15. Datadog, Inc. has a 1 year low of $98.80 and a 1 year high of $170.08. The stock’s 50 day simple moving average is $147.26 and its two-hundred day simple moving average is $130.10.

Insider Activity

In other Datadog news, General Counsel Kerry Acocella sold 2,488 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $158.04, for a total transaction of $393,203.52. Following the completion of the transaction, the general counsel now owns 68,758 shares in the company, valued at $10,866,514.32. The trade was a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Olivier Pomel sold 178,723 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $161.28, for a total value of $28,824,445.44. Following the completion of the sale, the chief executive officer now owns 379,693 shares in the company, valued at approximately $61,236,887.04. The trade was a 32.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 780,979 shares of company stock valued at $111,869,206. 11.78% of the stock is currently owned by insiders.

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.