Datadog, Inc. (NASDAQ:DDOG) Stake Raised by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. raised its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 77.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,598 shares of the company's stock after buying an additional 8,969 shares during the period. Sumitomo Life Insurance Co.'s holdings in Datadog were worth $2,943,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. True Wealth Design LLC boosted its holdings in shares of Datadog by 12,000.0% during the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company's stock worth $28,000 after buying an additional 240 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new position in shares of Datadog during the fourth quarter valued at approximately $30,000. Avior Wealth Management LLC grew its stake in shares of Datadog by 55.9% in the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock worth $32,000 after acquiring an additional 81 shares in the last quarter. Meeder Asset Management Inc. grew its position in Datadog by 66.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company's stock worth $33,000 after purchasing an additional 115 shares in the last quarter. Finally, Quarry LP purchased a new position in Datadog in the third quarter worth $33,000. Institutional investors and hedge funds own 78.29% of the company's stock.

Insider Buying and Selling

In other news, Director Amit Agarwal sold 25,000 shares of the business's stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $139.47, for a total value of $3,486,750.00. Following the completion of the sale, the director now directly owns 195,667 shares in the company, valued at approximately $27,289,676.49. The trade was a 11.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Olivier Pomel sold 11,195 shares of the firm's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $139.86, for a total value of $1,565,732.70. Following the transaction, the chief executive officer now owns 379,693 shares in the company, valued at $53,103,862.98. This trade represents a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 653,874 shares of company stock valued at $93,721,154. 11.78% of the stock is currently owned by corporate insiders.

Datadog Stock Down 3.9 %

Shares of DDOG stock traded down $5.96 during trading hours on Wednesday, hitting $145.93. 7,283,154 shares of the company were exchanged, compared to its average volume of 4,002,261. The firm has a fifty day moving average of $148.05 and a 200 day moving average of $129.18. Datadog, Inc. has a 1 year low of $98.80 and a 1 year high of $170.08. The firm has a market cap of $49.58 billion, a PE ratio of 275.35, a PEG ratio of 16.28 and a beta of 1.14.

Analyst Ratings Changes

Several equities analysts have commented on the company. UBS Group reissued an "underperform" rating on shares of Datadog in a research report on Friday, October 18th. DA Davidson upped their price target on Datadog from $140.00 to $150.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. TD Cowen restated a "buy" rating and set a $165.00 target price on shares of Datadog in a research note on Tuesday, November 19th. Wedbush raised Datadog from a "buy" rating to a "strong-buy" rating in a report on Thursday, October 17th. Finally, Cantor Fitzgerald initiated coverage on Datadog in a research note on Friday, January 17th. They issued an "overweight" rating and a $180.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $157.59.

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.