Sumitomo Mitsui Trust Group Inc. Has $101.97 Million Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Sumitomo Mitsui Trust Group Inc. grew its holdings in Datadog, Inc. (NASDAQ:DDOG) by 0.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 886,221 shares of the company’s stock after buying an additional 7,339 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Datadog were worth $101,969,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Keystone Financial Services acquired a new position in shares of Datadog in the 3rd quarter valued at $203,000. Nations Financial Group Inc. IA ADV increased its position in shares of Datadog by 3.1% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 4,641 shares of the company’s stock worth $534,000 after purchasing an additional 139 shares in the last quarter. Chartwell Investment Partners LLC increased its position in shares of Datadog by 159.6% during the 3rd quarter. Chartwell Investment Partners LLC now owns 36,432 shares of the company’s stock worth $4,192,000 after purchasing an additional 22,399 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Datadog during the 3rd quarter worth about $54,000. Finally, Los Angeles Capital Management LLC increased its position in shares of Datadog by 172.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock worth $4,469,000 after purchasing an additional 24,574 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Price Performance

Shares of NASDAQ:DDOG opened at $128.45 on Thursday. The company has a market capitalization of $43.31 billion, a price-to-earnings ratio of 242.36, a P/E/G ratio of 18.45 and a beta of 1.10. The firm’s 50 day simple moving average is $120.03 and its 200 day simple moving average is $119.40. Datadog, Inc. has a fifty-two week low of $98.80 and a fifty-two week high of $138.61.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $150.00 target price on shares of Datadog in a research report on Monday, July 22nd. DA Davidson increased their target price on shares of Datadog from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Citigroup increased their target price on shares of Datadog from $150.00 to $157.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Barclays increased their target price on shares of Datadog from $140.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, BTIG Research raised shares of 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $150.96.

Insider Activity at Datadog

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $129.33, for a total value of $16,438,489.65. Following the sale, the chief technology officer now directly owns 336,165 shares in the company, valued at $43,476,219.45. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $129.33, for a total value of $16,438,489.65. Following the sale, the chief technology officer now directly owns 336,165 shares in the company, valued at $43,476,219.45. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Olivier Pomel sold 85,637 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $122.61, for a total transaction of $10,499,952.57. Following the completion of the sale, the chief executive officer now owns 392,111 shares in the company, valued at $48,076,729.71. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 320,579 shares of company stock worth $40,386,541 in the last ninety days. Company insiders own 11.78% of the company’s stock.

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.