Whittier Trust Co. Acquires 42,613 Shares of Datadog, Inc. (NASDAQ:DDOG)

Whittier Trust Co. grew its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 77.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 97,894 shares of the company’s stock after purchasing an additional 42,613 shares during the quarter. Whittier Trust Co.’s holdings in Datadog were worth $13,988,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. True Wealth Design LLC grew its stake in Datadog by 12,000.0% in the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after buying an additional 240 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new stake in Datadog in the 4th quarter worth $30,000. Avior Wealth Management LLC grew its position in Datadog by 55.9% in the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after purchasing an additional 81 shares during the last quarter. Meeder Asset Management Inc. grew its position in Datadog by 66.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after purchasing an additional 115 shares during the last quarter. Finally, Quarry LP acquired a new stake in Datadog in the 3rd quarter worth $33,000. Institutional investors own 78.29% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on DDOG shares. JMP Securities restated a “market perform” rating on shares of Datadog in a research report on Friday, February 14th. Barclays decreased their price target on shares of Datadog from $187.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Truist Financial decreased their price target on shares of Datadog from $150.00 to $140.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. Wolfe Research lowered shares of Datadog from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Finally, DA Davidson raised their price objective on shares of Datadog from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $158.70.

Insider Buying and Selling

In other news, CRO Sean Michael Walters sold 8,454 shares of the business’s stock in a transaction that occurred 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 transaction, the executive now owns 185,871 shares in the company, valued at approximately $18,966,276.84. The trade was a 4.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $102.15, for a total transaction of $12,983,775.75. Following the completion of the transaction, the chief technology officer now owns 371,865 shares in the company, valued at $37,986,009.75. This trade represents a 25.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 626,412 shares of company stock worth $79,144,334 in the last ninety days. Company insiders own 11.78% of the company’s stock.

Datadog Stock Performance

DDOG stock opened at $104.43 on Thursday. The company’s 50-day simple moving average is $128.45 and its 200 day simple moving average is $130.99. Datadog, Inc. has a 52 week low of $98.30 and a 52 week high of $170.08. The company has a market capitalization of $35.79 billion, a PE ratio of 204.77, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings data 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, analysts forecast that Datadog, Inc. will post 0.34 EPS for the current year.

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.