PNC Financial Services Group Inc. Buys 4,989 Shares of Datadog, Inc. (NASDAQ:DDOG)

PNC Financial Services Group Inc. increased its position in Datadog, Inc. (NASDAQ:DDOG) by 37.8% during the 4th quarter, Holdings Channel reports. The firm owned 18,192 shares of the company’s stock after acquiring an additional 4,989 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Datadog were worth $2,599,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC grew its position 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 stake in Datadog in the fourth quarter worth about $30,000. Avior Wealth Management LLC lifted its stake in Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after acquiring an additional 81 shares during the period. Meeder Asset Management Inc. grew its holdings in Datadog by 66.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after acquiring an additional 115 shares in the last quarter. Finally, Quarry LP purchased a new position in Datadog during the 3rd quarter valued at about $33,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Citigroup cut their price objective on shares of Datadog from $170.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Guggenheim reissued a “neutral” rating on shares of Datadog in a research report on Wednesday, January 22nd. Cantor Fitzgerald began coverage on Datadog in a research note on Friday, January 17th. They issued an “overweight” rating and a $180.00 target price on the stock. Royal Bank of Canada increased their price target on shares of Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Wolfe Research lowered shares of Datadog from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Datadog has an average rating of “Moderate Buy” and a consensus price target of $158.70.

Datadog Trading Up 3.2 %

Shares of DDOG stock opened at $101.80 on Friday. Datadog, Inc. has a twelve month low of $98.30 and a twelve month high of $170.08. The stock has a 50 day moving average of $130.81 and a 200 day moving average of $131.12. The stock has a market cap of $34.89 billion, a P/E ratio of 199.61, a P/E/G ratio of 44.03 and a beta of 1.22.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. On average, research analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Activity at Datadog

In related news, CRO Sean Michael Walters sold 8,454 shares of Datadog stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total value of $862,646.16. Following the sale, the executive now owns 185,871 shares of the company’s stock, valued at approximately $18,966,276.84. This trade represents a 4.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shardul Shah sold 7,916 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $155.25, for a total transaction of $1,228,959.00. Following the transaction, the director now owns 435,701 shares of the company’s stock, valued at $67,642,580.25. This represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 653,554 shares of company stock worth $83,328,905 in the last 90 days. Corporate insiders own 11.78% of the company’s stock.

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.