Datadog, Inc. (NASDAQ:DDOG) Shares Sold by Summit Partners Public Asset Management LLC

Summit Partners Public Asset Management LLC lessened its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 2.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 370,710 shares of the company’s stock after selling 7,761 shares during the period. Datadog comprises about 1.3% of Summit Partners Public Asset Management LLC’s portfolio, making the stock its 18th largest holding. Summit Partners Public Asset Management LLC owned 0.11% of Datadog worth $42,654,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. B. Riley Wealth Advisors Inc. raised its position in shares of Datadog by 37.8% during the first quarter. B. Riley Wealth Advisors Inc. now owns 3,398 shares of the company’s stock worth $420,000 after purchasing an additional 932 shares during the period. Comerica Bank raised its holdings in Datadog by 2.2% during the 1st quarter. Comerica Bank now owns 36,509 shares of the company’s stock worth $4,513,000 after buying an additional 774 shares during the period. Virtu Financial LLC purchased a new stake in Datadog during the first quarter valued at about $497,000. Swedbank AB acquired a new position in shares of Datadog in the first quarter worth about $12,912,000. Finally, Cetera Investment Advisers increased its position in shares of Datadog by 150.1% in the first quarter. Cetera Investment Advisers now owns 33,880 shares of the company’s stock worth $4,188,000 after acquiring an additional 20,336 shares in the last quarter. 78.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

DDOG has been the subject of a number of recent analyst reports. Needham & Company LLC decreased their price objective on shares of Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Scotiabank decreased their target price on Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. Rosenblatt Securities lifted their price target on Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a report on Friday, November 8th. DA Davidson increased their price objective on Datadog from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Robert W. Baird lifted their target price on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, one has assigned 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 MarketBeat, Datadog presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.96.

Datadog Stock Down 1.6 %

Shares of Datadog stock opened at $151.96 on Friday. The company has a market capitalization of $51.62 billion, a price-to-earnings ratio of 286.72, a PEG ratio of 19.89 and a beta of 1.10. The firm’s 50-day moving average price is $127.47 and its two-hundred day moving average price is $121.02. Datadog, Inc. has a 12-month low of $98.80 and a 12-month high of $157.48.

Insider Activity at Datadog

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction 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 completion of the sale, the chief technology officer now directly owns 336,165 shares of the company’s stock, valued at approximately $43,476,219.45. The trade was a 27.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Amit Agarwal sold 150,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $126.03, for a total value of $18,904,500.00. Following the completion of the transaction, the president now owns 214,275 shares in the company, valued at approximately $27,005,078.25. The trade was a 41.18 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 541,491 shares of company stock valued at $68,927,496. 11.78% of the stock is owned by insiders.

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.