Datadog, Inc. (NASDAQ:DDOG) Shares Sold by Summit Trail Advisors LLC

Summit Trail Advisors LLC reduced its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 0.2% during the 4th quarter, HoldingsChannel reports. The fund owned 143,507 shares of the company’s stock after selling 335 shares during the period. Datadog accounts for 0.6% of Summit Trail Advisors LLC’s portfolio, making the stock its 25th largest position. Summit Trail Advisors LLC’s holdings in Datadog were worth $17,419,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Anchor Investment Management LLC acquired a new position in Datadog in the 4th quarter worth $25,000. Private Trust Co. NA increased its holdings in shares of Datadog by 743.3% in the 4th quarter. Private Trust Co. NA now owns 253 shares of the company’s stock valued at $31,000 after acquiring an additional 223 shares during the last quarter. BluePath Capital Management LLC acquired a new position in Datadog in the third quarter worth $31,000. GAMMA Investing LLC bought a new position in shares of Datadog in the 4th quarter worth about $45,000. Finally, AM Squared Ltd acquired a new stake in Datadog during the third quarter worth about $36,000. 78.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DDOG has been the subject of a number of recent research reports. Wolfe Research upped their price objective on Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 14th. Truist Financial upped their price objective on Datadog from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Mizuho upped their price objective on Datadog from $108.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. BMO Capital Markets reissued an “outperform” rating and issued a $155.00 price target (up previously from $140.00) on shares of Datadog in a research note on Wednesday, February 14th. Finally, Robert W. Baird increased their price target on Datadog from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Five equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, Datadog has an average rating of “Moderate Buy” and a consensus price target of $136.04.

Datadog Stock Down 10.3 %

Shares of NASDAQ DDOG traded down $13.08 during mid-day trading on Tuesday, reaching $113.89. The company had a trading volume of 11,048,132 shares, compared to its average volume of 4,104,664. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.17 and a current ratio of 3.17. The company has a market capitalization of $37.80 billion, a price-to-earnings ratio of 943.25 and a beta of 1.14. The stock has a fifty day moving average of $124.94 and a two-hundred day moving average of $118.97. Datadog, Inc. has a 12-month low of $75.02 and a 12-month high of $138.61.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The business had revenue of $589.65 million during the quarter, compared to analysts’ expectations of $568.73 million. During the same quarter in the previous year, the business posted ($0.08) EPS. The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. As a group, equities research analysts expect that Datadog, Inc. will post -0.14 EPS for the current year.

Insider Activity at Datadog

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $135.10, for a total transaction of $17,171,885.50. Following the transaction, the chief technology officer now owns 247,328 shares of the company’s stock, valued at $33,414,012.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $135.10, for a total value of $17,171,885.50. Following the sale, the chief technology officer now owns 247,328 shares of the company’s stock, valued at approximately $33,414,012.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Olivier Pomel sold 23,924 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $130.05, for a total transaction of $3,111,316.20. Following the completion of the sale, the chief executive officer now directly owns 337,247 shares in the company, valued at approximately $43,858,972.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 626,593 shares of company stock worth $80,422,044. 11.78% of the stock is owned by 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.