Summit Trail Advisors LLC Sells 335 Shares of Datadog, Inc. (NASDAQ:DDOG)

Summit Trail Advisors LLC reduced its position in Datadog, Inc. (NASDAQ:DDOG) by 0.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 143,507 shares of the company’s stock after selling 335 shares during the period. Datadog accounts for approximately 0.6% of Summit Trail Advisors LLC’s portfolio, making the stock its 25th largest holding. Summit Trail Advisors LLC’s holdings in Datadog were worth $17,419,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of DDOG. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Datadog by 96.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 33,433 shares of the company’s stock worth $3,045,000 after purchasing an additional 16,410 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in Datadog by 5.6% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 46,731 shares of the company’s stock worth $4,257,000 after buying an additional 2,462 shares in the last quarter. Stratos Wealth Partners LTD. bought a new position in shares of Datadog in the 3rd quarter worth $363,000. Bank of New York Mellon Corp grew its position in Datadog by 2.5% in the third quarter. Bank of New York Mellon Corp now owns 1,378,534 shares of the company’s stock worth $125,571,000 after acquiring an additional 33,748 shares in the last quarter. Finally, Forsta AP Fonden increased its stake in Datadog by 1.4% in the third quarter. Forsta AP Fonden now owns 51,100 shares of the company’s stock valued at $4,655,000 after acquiring an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on DDOG. Wedbush reiterated an “outperform” rating and issued a $155.00 price objective on shares of Datadog in a report on Monday. BMO Capital Markets reissued an “outperform” rating and set a $155.00 price target (up from $140.00) on shares of Datadog in a research note on Wednesday, February 14th. Citigroup boosted their target price on Datadog from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. Needham & Company LLC lifted their price target on Datadog from $125.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Finally, Wells Fargo & Company upgraded Datadog from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $130.00 to $150.00 in a research report on Tuesday, April 23rd. Five analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $136.04.

Datadog Price Performance

Shares of NASDAQ:DDOG traded down $13.08 during midday trading on Tuesday, hitting $113.89. The company had a trading volume of 11,048,132 shares, compared to its average volume of 4,104,664. The business’s 50-day simple moving average is $124.94 and its 200-day simple moving average is $118.97. 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 stock has a market cap of $37.80 billion, a price-to-earnings ratio of 943.25 and a beta of 1.14. Datadog, Inc. has a twelve month low of $75.02 and a twelve month high of $138.61.

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

Insider Activity

In other news, insider Madre Armelle De sold 600 shares of Datadog stock in a transaction on Monday, April 8th. The stock was sold at an average price of $125.34, for a total value of $75,204.00. Following the completion of the sale, the insider now directly owns 100,353 shares of the company’s stock, valued at $12,578,245.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $135.10, for a total transaction of $17,171,885.50. Following the completion of the sale, the chief technology officer now directly owns 247,328 shares of the company’s stock, valued at approximately $33,414,012.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Madre Armelle De sold 600 shares of Datadog stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $125.34, for a total value of $75,204.00. Following the sale, the insider now directly owns 100,353 shares of the company’s stock, valued at $12,578,245.02. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 626,593 shares of company stock valued at $80,422,044. 11.78% of the stock is currently owned by corporate insiders.

Datadog Company 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.