Summit Trail Advisors LLC Has $19.65 Million Holdings in Datadog, Inc. (NASDAQ:DDOG)

Summit Trail Advisors LLC boosted its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 0.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 137,502 shares of the company’s stock after buying an additional 502 shares during the period. Datadog makes up approximately 0.7% of Summit Trail Advisors LLC’s investment portfolio, making the stock its 20th largest position. Summit Trail Advisors LLC’s holdings in Datadog were worth $19,648,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Jennison Associates LLC boosted its position in shares of Datadog by 47.9% during the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock worth $1,325,826,000 after acquiring an additional 3,005,300 shares in the last quarter. Holocene Advisors LP lifted its stake in Datadog by 205.2% during the third quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock worth $187,878,000 after purchasing an additional 1,097,815 shares during the last quarter. Champlain Investment Partners LLC acquired a new stake in shares of Datadog in the 3rd quarter valued at $52,561,000. Eagle Asset Management Inc. increased its stake in shares of Datadog by 72.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 914,776 shares of the company’s stock valued at $113,844,000 after purchasing an additional 384,121 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of Datadog by 51.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 608,252 shares of the company’s stock worth $69,985,000 after buying an additional 206,696 shares in the last quarter. 78.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DDOG. BMO Capital Markets raised their price objective on Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Jefferies Financial Group raised their price target on shares of Datadog from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, January 6th. UBS Group reiterated an “underperform” rating on shares of Datadog in a research report on Friday, October 18th. DA Davidson raised their target price on shares of Datadog from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Monday. Finally, Monness Crespi & Hardt upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $158.10.

Insider Buying and Selling at Datadog

In related news, General Counsel Kerry Acocella sold 2,488 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $158.04, for a total value of $393,203.52. Following the transaction, the general counsel now directly owns 68,758 shares in the company, valued at $10,866,514.32. This trade represents a 3.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Olivier Pomel sold 178,723 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the completion of the transaction, the chief executive officer now directly owns 379,693 shares in the company, valued at $61,236,887.04. This trade represents a 32.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 777,586 shares of company stock valued at $111,444,979. Company insiders own 11.78% of the company’s stock.

Datadog Price Performance

Shares of DDOG opened at $147.10 on Tuesday. Datadog, Inc. has a one year low of $98.80 and a one year high of $170.08. The company has a market cap of $49.97 billion, a PE ratio of 277.55, a P/E/G ratio of 16.83 and a beta of 1.15. The stock has a 50-day moving average of $147.06 and a 200-day moving average of $130.39.

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.