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

Sumitomo Mitsui Trust Group Inc. increased its position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 0.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 886,221 shares of the company's stock after acquiring an additional 7,339 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.26% of Datadog worth $101,969,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Los Angeles Capital Management LLC grew its position in 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. Heritage Investors Management Corp acquired a new position in Datadog during the third quarter valued at $1,157,000. Vanguard Group Inc. lifted its stake in Datadog by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company's stock worth $3,390,485,000 after acquiring an additional 171,693 shares in the last quarter. Bank of Montreal Can lifted its stake in Datadog by 129.2% in the 2nd quarter. Bank of Montreal Can now owns 610,977 shares of the company's stock worth $79,384,000 after acquiring an additional 344,431 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Datadog by 23.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,933 shares of the company's stock worth $19,635,000 after acquiring an additional 32,217 shares during the period. Hedge funds and other institutional investors own 78.29% of the company's stock.

Insider Buying and Selling at Datadog

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the firm's stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $129.33, for a total transaction of $16,438,489.65. Following the completion of the transaction, the chief technology officer now owns 336,165 shares in the company, valued at $43,476,219.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog 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 completion of the transaction, the chief technology officer now owns 336,165 shares in the company, valued at approximately $43,476,219.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Kerry Acocella sold 2,452 shares of the firm's stock in a transaction on Friday, October 4th. The shares were sold at an average price of $120.06, for a total value of $294,387.12. Following the sale, the general counsel now directly owns 74,421 shares of the company's stock, valued at $8,934,985.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 320,579 shares of company stock valued at $40,386,541. 11.78% of the stock is currently owned by corporate insiders.

Datadog Stock Performance

Shares of NASDAQ:DDOG traded up $4.29 during midday trading on Thursday, reaching $132.74. 2,821,012 shares of the company's stock were exchanged, compared to its average volume of 3,832,895. The firm has a market capitalization of $44.75 billion, a PE ratio of 242.36, a price-to-earnings-growth ratio of 18.45 and a beta of 1.10. The company's 50 day simple moving average is $120.42 and its two-hundred day simple moving average is $119.46. Datadog, Inc. has a 12 month low of $98.80 and a 12 month high of $138.61.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. DA Davidson raised their price target on shares of Datadog from $140.00 to $150.00 and gave the stock a "buy" rating in a report on Friday, November 8th. UBS Group reaffirmed an "underperform" rating on shares of Datadog in a research note on Friday, October 18th. Cantor Fitzgerald reiterated an "overweight" rating and set a $150.00 price objective on shares of Datadog in a report on Monday, July 22nd. Scotiabank lowered their target price on Datadog from $135.00 to $133.00 and set a "sector outperform" rating on the stock in a research note on Friday, November 8th. Finally, BTIG Research upgraded Datadog from a "neutral" rating to a "buy" rating and set a $143.00 price target for the company in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Datadog currently has a consensus rating of "Moderate Buy" and a consensus price target of $150.96.

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.