Summit Securities Group LLC Makes New Investment in Datadog, Inc. (NASDAQ:DDOG)

Summit Securities Group LLC acquired a new position in Datadog, Inc. (NASDAQ:DDOG) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 304 shares of the company’s stock, valued at approximately $43,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Datadog by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company’s stock valued at $4,337,316,000 after acquiring an additional 220,527 shares in the last quarter. Baillie Gifford & Co. raised its holdings in shares of Datadog by 15.8% in the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock valued at $1,558,234,000 after purchasing an additional 1,484,562 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Datadog by 47.9% in the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after purchasing an additional 3,005,300 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Datadog by 2.5% during the third quarter. Geode Capital Management LLC now owns 5,185,557 shares of the company’s stock valued at $595,438,000 after purchasing an additional 125,457 shares in the last quarter. Finally, Norges Bank purchased a new position in Datadog during the fourth quarter worth about $462,910,000. Institutional investors own 78.29% of the company’s stock.

Datadog Stock Down 3.6 %

Shares of DDOG opened at $101.10 on Monday. Datadog, Inc. has a twelve month low of $98.30 and a twelve month high of $170.08. The stock has a market cap of $34.65 billion, a PE ratio of 198.24, a P/E/G ratio of 44.03 and a beta of 1.22. The business’s 50-day moving average price is $123.79 and its 200-day moving average price is $130.95.

Datadog (NASDAQ:DDOG) last posted its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. Analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on DDOG. Royal Bank of Canada lifted their target price on shares of Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. JMP Securities reiterated a “market perform” rating on shares of Datadog in a report on Friday, February 14th. Guggenheim restated a “neutral” rating on shares of Datadog in a research note on Wednesday, January 22nd. Macquarie reiterated an “outperform” rating and set a $200.00 target price on shares of Datadog in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company lowered shares of Datadog from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $152.00 to $140.00 in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Datadog currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.70.

Insider Buying and Selling

In other Datadog news, Director Shardul Shah sold 7,916 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $142.12, for a total value of $1,125,021.92. Following the transaction, the director now directly owns 427,785 shares in the company, valued at $60,796,804.20. This represents a 1.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Sean Michael Walters sold 8,454 shares of Datadog stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total value of $862,646.16. Following the sale, the executive now owns 185,871 shares of the company’s stock, valued at approximately $18,966,276.84. This trade represents a 4.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 601,412 shares of company stock worth $75,444,584. Corporate insiders own 11.78% of the company’s stock.

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.