PNC Financial Services Group Inc. Sells 8,117 Shares of Datadog, Inc. (NASDAQ:DDOG)

PNC Financial Services Group Inc. lowered its position in shares of Datadog, Inc. (NASDAQ:DDOGFree Report) by 50.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,083 shares of the company’s stock after selling 8,117 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Datadog were worth $981,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of DDOG. Vanguard Group Inc. lifted its holdings in shares of Datadog by 4.7% in the third quarter. Vanguard Group Inc. now owns 26,524,875 shares of the company’s stock worth $2,416,151,000 after buying an additional 1,191,742 shares in the last quarter. Norges Bank bought a new position in shares of Datadog during the 4th quarter valued at about $384,986,000. Massachusetts Financial Services Co. MA lifted its position in shares of Datadog by 31.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,733,448 shares of the company’s stock worth $331,786,000 after buying an additional 651,244 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in Datadog by 11.7% during the third quarter. Artisan Partners Limited Partnership now owns 2,330,404 shares of the company’s stock valued at $212,276,000 after buying an additional 244,567 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Datadog by 8.4% during the 3rd quarter. Northern Trust Corp now owns 1,688,422 shares of the company’s stock valued at $153,798,000 after buying an additional 131,464 shares in the last quarter. 78.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Datadog news, President Amit Agarwal sold 33,311 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were 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 in the company, valued at $37,804,062.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Datadog news, President Amit Agarwal sold 33,311 shares of the stock in a transaction dated 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 in the company, valued at $37,804,062.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CRO Sean Michael Walters sold 20,692 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $128.58, for a total value of $2,660,577.36. Following the sale, the executive now owns 182,593 shares in the company, valued at approximately $23,477,807.94. The disclosure for this sale can be found here. Insiders sold a total of 693,476 shares of company stock worth $86,608,694 in the last 90 days. 11.78% of the stock is owned by corporate insiders.

Datadog Stock Down 0.4 %

Shares of NASDAQ DDOG opened at $121.68 on Thursday. Datadog, Inc. has a 12-month low of $77.81 and a 12-month high of $138.61. The stock’s fifty day simple moving average is $123.24 and its two-hundred day simple moving average is $122.65. The stock has a market capitalization of $40.70 billion, a PE ratio of 380.25, a price-to-earnings-growth ratio of 48.16 and a beta of 1.14. 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:DDOGGet Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.20. The company had revenue of $611.25 million for the quarter, compared to the consensus estimate of $589.97 million. Datadog had a return on equity of 7.48% and a net margin of 5.11%. As a group, analysts expect that Datadog, Inc. will post 0.27 EPS for the current fiscal year.

Analyst Ratings Changes

DDOG has been the topic of a number of research reports. Barclays reduced their target price on shares of Datadog from $152.00 to $145.00 and set an “overweight” rating on the stock in a report on Wednesday, May 8th. Royal Bank of Canada upped their price objective on Datadog from $145.00 to $151.00 and gave the company an “outperform” rating in a research report on Wednesday, February 14th. JMP Securities upgraded Datadog to a “hold” rating in a report on Wednesday, May 8th. Wedbush restated an “outperform” rating and set a $155.00 price target on shares of Datadog in a report on Monday, May 6th. Finally, Wolfe Research lifted their price objective on shares of Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 14th. Five investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Datadog currently has an average rating of “Moderate Buy” and a consensus price target of $135.58.

Read Our Latest Research Report on Datadog

Datadog Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Datadog (NASDAQ:DDOG)

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