Truist Financial Corp Acquires 1,691 Shares of Datadog, Inc. (NASDAQ:DDOG)

Truist Financial Corp grew its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 9.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 20,363 shares of the company’s stock after purchasing an additional 1,691 shares during the quarter. Truist Financial Corp’s holdings in Datadog were worth $2,472,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA purchased a new position in Datadog in the 3rd quarter worth approximately $189,668,000. Quintet Private Bank Europe S.A. bought a new stake in Datadog during the 3rd quarter valued at $270,000. Mengis Capital Management Inc. purchased a new stake in Datadog during the 3rd quarter valued at $409,000. Cercano Management LLC grew its holdings in Datadog by 40.4% in the 3rd quarter. Cercano Management LLC now owns 309,560 shares of the company’s stock worth $28,198,000 after acquiring an additional 89,019 shares during the last quarter. Finally, Louisiana State Employees Retirement System purchased a new position in shares of Datadog in the fourth quarter valued at about $2,913,000. Institutional investors own 78.29% of the company’s stock.

Datadog Price Performance

Shares of DDOG opened at $117.28 on Thursday. Datadog, Inc. has a twelve month low of $77.81 and a twelve month high of $138.61. The company has a market capitalization of $38.92 billion, a P/E ratio of 977.33 and a beta of 1.14. The firm has a 50 day moving average of $124.57 and a 200 day moving average of $119.16. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.37.

Datadog (NASDAQ:DDOG) last posted its earnings results on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $589.65 million during the quarter, compared to analyst estimates of $568.73 million. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.08) EPS. As a group, equities research analysts anticipate that Datadog, Inc. will post -0.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $150.00 target price on shares of Datadog in a report on Wednesday, April 17th. BMO Capital Markets cut their price objective on Datadog from $155.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday. Stifel Nicolaus restated a “buy” rating and set a $152.00 target price on shares of Datadog in a report on Monday, April 22nd. Truist Financial lifted their price target on shares of Datadog from $140.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Finally, Wells Fargo & Company upgraded shares of Datadog from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $130.00 to $150.00 in a report on Tuesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $135.58.

Insiders Place Their Bets

In other news, CFO David M. Obstler sold 70,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $120.73, for a total transaction of $8,451,100.00. Following the sale, the chief financial officer now owns 275,191 shares of the company’s stock, valued at approximately $33,223,809.43. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO David M. Obstler sold 70,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $120.73, for a total value of $8,451,100.00. Following the transaction, the chief financial officer now directly owns 275,191 shares in the company, valued at approximately $33,223,809.43. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Amit Agarwal sold 33,311 shares of Datadog stock in a transaction on Monday, March 4th. The stock was sold at an average price of $128.58, for a total value of $4,283,128.38. Following the completion of the sale, the president now directly owns 294,012 shares of the company’s stock, valued at approximately $37,804,062.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 712,230 shares of company stock valued at $91,161,780. 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.