Whittier Trust Co. of Nevada Inc. Raises Stake in Datadog, Inc. (NASDAQ:DDOG)

Whittier Trust Co. of Nevada Inc. increased its stake in Datadog, Inc. (NASDAQ:DDOG) by 113.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,670 shares of the company’s stock after purchasing an additional 22,140 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Datadog were worth $5,954,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DDOG. Allworth Financial LP increased its holdings in Datadog by 7.7% in the fourth quarter. Allworth Financial LP now owns 1,043 shares of the company’s stock valued at $146,000 after buying an additional 75 shares in the last quarter. Spire Wealth Management increased its stake in Datadog by 21.4% in the 4th quarter. Spire Wealth Management now owns 453 shares of the company’s stock valued at $65,000 after purchasing an additional 80 shares in the last quarter. Avior Wealth Management LLC raised its holdings in Datadog by 55.9% during the fourth 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. Pathstone Holdings LLC boosted its position in Datadog by 0.4% during the third quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock worth $2,664,000 after purchasing an additional 91 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in Datadog by 5.2% in the fourth quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company’s stock valued at $265,000 after purchasing an additional 92 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Insider Buying and Selling

In other Datadog news, CRO Sean Michael Walters sold 8,454 shares of the business’s 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 transaction, the executive now owns 185,871 shares in the company, valued at $18,966,276.84. The trade was a 4.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $102.15, for a total value of $12,983,775.75. Following the sale, the chief technology officer now owns 371,865 shares of the company’s stock, valued at $37,986,009.75. This represents a 25.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 626,412 shares of company stock valued at $79,144,334. Corporate insiders own 11.78% of the company’s stock.

Datadog Stock Up 1.8 %

Datadog stock opened at $105.03 on Friday. The firm has a market capitalization of $36.00 billion, a P/E ratio of 205.95, a PEG ratio of 44.03 and a beta of 1.22. The firm has a fifty day moving average of $126.97 and a 200-day moving average of $130.72. Datadog, Inc. has a 52-week low of $98.30 and a 52-week high of $170.08.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on DDOG shares. Guggenheim reiterated a “neutral” rating on shares of Datadog in a research report on Wednesday, January 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $160.00 price target on shares of Datadog in a research report on Tuesday, March 4th. Jefferies Financial Group lifted their price objective on Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Cantor Fitzgerald started coverage on Datadog in a report on Friday, January 17th. They set an “overweight” rating and a $180.00 target price on the stock. Finally, Wolfe Research cut Datadog from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $158.70.

About Datadog

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.