Summit Partners Public Asset Management LLC Sells 7,761 Shares of Datadog, Inc. (NASDAQ:DDOG)

Summit Partners Public Asset Management LLC reduced its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 2.1% during the third quarter, Holdings Channel reports. The firm owned 370,710 shares of the company’s stock after selling 7,761 shares during the period. Datadog makes up 1.3% of Summit Partners Public Asset Management LLC’s holdings, making the stock its 18th largest holding. Summit Partners Public Asset Management LLC’s holdings in Datadog were worth $42,654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DDOG. Jennison Associates LLC raised its position in Datadog by 2.1% in the third quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock worth $721,811,000 after acquiring an additional 126,613 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Datadog by 9.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock worth $511,620,000 after purchasing an additional 331,808 shares during the period. 1832 Asset Management L.P. lifted its stake in Datadog by 5.9% in the second quarter. 1832 Asset Management L.P. now owns 2,486,600 shares of the company’s stock valued at $322,487,000 after purchasing an additional 138,700 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position 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 worth $232,988,000 after buying an additional 46,746 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position 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 valued at $135,377,000 after buying an additional 29,404 shares during the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on DDOG. Scotiabank dropped their price objective on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. Needham & Company LLC reduced their price target on Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, August 9th. BTIG Research raised Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective on the stock in a report on Thursday, August 1st. Robert W. Baird raised their target price on Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, TD Cowen reiterated a “buy” rating and set a $165.00 price target on shares of Datadog in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.96.

Datadog Stock Down 1.6 %

Datadog stock opened at $151.96 on Friday. The firm has a fifty day simple moving average of $127.47 and a two-hundred day simple moving average of $121.02. Datadog, Inc. has a twelve month low of $98.80 and a twelve month high of $157.48. The company has a market capitalization of $51.62 billion, a PE ratio of 286.72, a P/E/G ratio of 19.89 and a beta of 1.10.

Insider Transactions at Datadog

In other Datadog news, Director Matthew Jacobson sold 9,256 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total value of $1,000,110.80. Following the sale, the director now owns 48,411 shares of the company’s stock, valued at $5,230,808.55. This trade represents a 16.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Amit Agarwal sold 150,000 shares of the company’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 directly owns 214,275 shares of the company’s stock, valued at approximately $27,005,078.25. This trade represents a 41.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 541,491 shares of company stock worth $68,927,496. 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.