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

PNC Financial Services Group Inc. lifted its stake in Datadog, Inc. (NASDAQ:DDOG) by 37.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. True Wealth Design LLC grew its position in Datadog by 12,000.0% in the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after purchasing an additional 240 shares during the period. Retirement Wealth Solutions LLC bought a new stake in shares of Datadog in the fourth quarter worth $30,000. Avior Wealth Management LLC increased its position in Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after acquiring an additional 81 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in Datadog by 66.5% in the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after acquiring an additional 115 shares during the period. Finally, Quarry LP purchased a new position in Datadog in the third quarter worth about $33,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

Datadog Price Performance

Shares of DDOG opened at $101.80 on Friday. The stock has a market capitalization of $34.89 billion, a price-to-earnings ratio of 199.61, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22. Datadog, Inc. has a 1 year low of $98.30 and a 1 year high of $170.08. The business’s 50 day simple moving average is $130.81 and its 200-day simple moving average is $131.12.

Datadog (NASDAQ:DDOG) last released 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 net margin of 6.85% and a return on equity of 8.28%. On average, sell-side analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on DDOG shares. TD Cowen reaffirmed a “buy” rating and set a $165.00 price target on shares of Datadog in a research report on Tuesday, November 19th. Cantor Fitzgerald initiated coverage on shares of Datadog in a report on Friday, January 17th. They set an “overweight” rating and a $180.00 target price for the company. JMP Securities reiterated a “market perform” rating on shares of Datadog in a research note on Friday, February 14th. Guggenheim reissued a “neutral” rating on shares of Datadog in a research report on Wednesday, January 22nd. Finally, Jefferies Financial Group raised their target price on Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Datadog has a consensus rating of “Moderate Buy” and a consensus target price of $158.70.

Insider Activity at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was 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 directly owns 371,865 shares in the company, valued at approximately $37,986,009.75. This represents a 25.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Shardul Shah sold 7,916 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $155.25, for a total value of $1,228,959.00. Following the completion of the sale, the director now owns 435,701 shares in the company, valued at approximately $67,642,580.25. The trade was a 1.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 653,554 shares of company stock valued at $83,328,905. Insiders own 11.78% of the company’s stock.

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.