Sumitomo Mitsui Trust Holdings Inc. Has $77.29 Million Stake in Datadog, Inc. (NASDAQ:DDOG)

Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 636,740 shares of the company’s stock after buying an additional 5,898 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.19% of Datadog worth $77,288,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Louisiana State Employees Retirement System bought a new stake in Datadog during the fourth quarter valued at about $2,913,000. Ingalls & Snyder LLC bought a new stake in shares of Datadog in the fourth quarter valued at about $211,000. NewEdge Wealth LLC lifted its stake in shares of Datadog by 10.6% in the fourth quarter. NewEdge Wealth LLC now owns 4,118 shares of the company’s stock valued at $500,000 after buying an additional 395 shares during the period. Friedenthal Financial bought a new stake in shares of Datadog in the fourth quarter valued at about $767,000. Finally, Cerity Partners LLC lifted its stake in shares of Datadog by 80.0% in the fourth quarter. Cerity Partners LLC now owns 30,062 shares of the company’s stock valued at $3,649,000 after buying an additional 13,361 shares during the period. 78.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company increased their target price on shares of Datadog from $100.00 to $130.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Cantor Fitzgerald restated an “overweight” rating and set a $150.00 price target on shares of Datadog in a research note on Wednesday. Citigroup raised their price target on shares of Datadog from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, January 22nd. Robert W. Baird raised their price target on shares of Datadog from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $150.00 price target on shares of Datadog in a research note on Friday, February 23rd. Six analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $130.52.

Datadog Price Performance

Shares of NASDAQ:DDOG opened at $123.55 on Thursday. The company has a market cap of $41.00 billion, a price-to-earnings ratio of 1,029.58 and a beta of 1.15. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.17 and a quick ratio of 3.17. The firm has a 50 day simple moving average of $126.31 and a 200 day simple moving average of $115.49. Datadog, Inc. has a one year low of $62.60 and a one year high of $138.61.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Datadog had a net margin of 2.28% and a return on equity of 3.79%. The firm had revenue of $589.65 million for the quarter, compared to analyst estimates of $568.73 million. During the same period last year, the firm earned ($0.08) earnings per share. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. Research analysts predict that Datadog, Inc. will post -0.14 earnings per share for the current fiscal year.

Insider Activity at Datadog

In related news, CRO Sean Michael Walters sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive now directly owns 162,706 shares of the company’s stock, valued at $21,129,001.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CRO Sean Michael Walters sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive now directly owns 162,706 shares of the company’s stock, valued at $21,129,001.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Olivier Pomel sold 133,315 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $129.82, for a total transaction of $17,306,953.30. Following the transaction, the chief executive officer now directly owns 299,075 shares in the company, valued at $38,825,916.50. The disclosure for this sale can be found here. Insiders have sold 745,984 shares of company stock valued at $95,917,681 over the last ninety days. Corporate insiders own 14.97% 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.