Sumitomo Life Insurance Co. Sells 1,451 Shares of Datadog, Inc. (NASDAQ:DDOG)

Sumitomo Life Insurance Co. lowered its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 11.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 11,315 shares of the company’s stock after selling 1,451 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Datadog were worth $1,467,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Riverview Trust Co purchased a new position in shares of Datadog during the 1st quarter valued at $26,000. Raleigh Capital Management Inc. bought a new stake in Datadog in the fourth quarter worth $29,000. Jones Financial Companies Lllp bought a new stake in Datadog in the fourth quarter worth $33,000. Quest Partners LLC bought a new stake in Datadog in the fourth quarter worth $36,000. Finally, Blue Trust Inc. bought a new position in shares of Datadog during the second quarter valued at about $37,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Price Performance

DDOG traded down $1.35 during trading on Friday, hitting $114.98. 2,197,923 shares of the company traded hands, compared to its average volume of 4,092,042. Datadog, Inc. has a 1 year low of $77.81 and a 1 year high of $138.61. The company has a market cap of $38.46 billion, a PE ratio of 359.31, a P/E/G ratio of 37.24 and a beta of 1.11. The stock’s 50-day simple moving average is $119.86 and its two-hundred day simple moving average is $122.61. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.34.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. Datadog had a net margin of 5.11% and a return on equity of 7.48%. The business had revenue of $645.28 million during the quarter, compared to analysts’ expectations of $624.92 million. During the same period last year, the company posted $0.36 EPS. The business’s revenue was up 26.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Datadog, Inc. will post 0.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

DDOG has been the subject of several recent analyst reports. JMP Securities raised shares of Datadog to a “hold” rating in a research note on Wednesday, May 8th. Monness Crespi & Hardt raised shares of Datadog from a “sell” rating to a “neutral” rating in a research note on Wednesday, August 7th. Barclays lowered their price objective on shares of Datadog from $145.00 to $140.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Needham & Company LLC reduced their price target on shares of Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Evercore ISI started coverage on shares of Datadog in a research report on Monday, July 15th. They set an “outperform” rating and a $150.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $139.15.

Insider Buying and Selling

In related news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $111.66, for a total transaction of $14,192,544.30. Following the completion of the transaction, the chief technology officer now directly owns 347,684 shares of the company’s stock, valued at approximately $38,822,395.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Olivier Pomel sold 85,637 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $104.21, for a total transaction of $8,924,231.77. Following the sale, the chief executive officer now directly owns 405,314 shares of the company’s stock, valued at $42,237,771.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $111.66, for a total transaction of $14,192,544.30. Following the sale, the chief technology officer now directly owns 347,684 shares in the company, valued at $38,822,395.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 857,306 shares of company stock valued at $101,078,323. Company insiders own 11.78% of the company’s stock.

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.