Summit Trail Advisors LLC Boosts Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Summit Trail Advisors LLC grew its position in Datadog, Inc. (NASDAQ:DDOG) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 137,502 shares of the company’s stock after purchasing an additional 502 shares during the period. Datadog comprises about 0.7% of Summit Trail Advisors LLC’s portfolio, making the stock its 20th largest position. Summit Trail Advisors LLC’s holdings in Datadog were worth $19,648,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in DDOG. Jennison Associates LLC raised its stake in shares of Datadog by 47.9% during the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock worth $1,325,826,000 after purchasing an additional 3,005,300 shares during the period. Geode Capital Management LLC raised its position in Datadog by 2.5% in the third quarter. Geode Capital Management LLC now owns 5,185,557 shares of the company’s stock worth $595,438,000 after acquiring an additional 125,457 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Datadog by 2.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,024,926 shares of the company’s stock valued at $232,988,000 after acquiring an additional 46,746 shares during the last quarter. Holocene Advisors LP grew its position in shares of Datadog by 205.2% during the 3rd quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock valued at $187,878,000 after acquiring an additional 1,097,815 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Datadog by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,176,577 shares of the company’s stock worth $135,377,000 after purchasing an additional 29,404 shares during the last quarter. 78.29% of the stock is owned by institutional investors.

Datadog Stock Performance

Shares of Datadog stock opened at $147.10 on Tuesday. Datadog, Inc. has a 52-week low of $98.80 and a 52-week high of $170.08. The company has a fifty day moving average of $147.06 and a 200-day moving average of $130.39. The stock has a market capitalization of $49.97 billion, a price-to-earnings ratio of 277.55, a price-to-earnings-growth ratio of 16.83 and a beta of 1.15.

Analysts Set New Price Targets

DDOG has been the topic of several research analyst reports. Royal Bank of Canada upped their price objective on Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Jefferies Financial Group increased their price target on Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Truist Financial lowered shares of Datadog from a “buy” rating to a “hold” rating and cut their target price for the stock from $170.00 to $150.00 in a research report on Tuesday, January 7th. Monness Crespi & Hardt raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a research report on Thursday, November 7th. Finally, Loop Capital upped their price target on shares of Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $158.10.

Insider Buying and Selling at Datadog

In related news, President Amit Agarwal sold 150,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $126.03, for a total transaction of $18,904,500.00. Following the transaction, the president now owns 214,275 shares in the company, valued at $27,005,078.25. The trade was a 41.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Shardul Shah sold 7,916 shares of Datadog stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $155.25, for a total value of $1,228,959.00. Following the sale, the director now directly owns 435,701 shares in the company, valued at approximately $67,642,580.25. The trade was a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 777,586 shares of company stock worth $111,444,979 over the last three months. Company insiders own 11.78% of the company’s stock.

Datadog 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.