SVB Wealth LLC Raises Stock Position in Datadog, Inc. (NASDAQ:DDOG)

SVB Wealth LLC lifted its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 91.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 31,412 shares of the company’s stock after buying an additional 15,012 shares during the quarter. SVB Wealth LLC’s holdings in Datadog were worth $3,813,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of DDOG. PNC Financial Services Group Inc. increased its holdings in Datadog by 25.8% during the first quarter. PNC Financial Services Group Inc. now owns 2,718 shares of the company’s stock valued at $412,000 after buying an additional 558 shares during the period. MetLife Investment Management LLC purchased a new position in Datadog during the first quarter valued at approximately $2,494,000. Yousif Capital Management LLC increased its holdings in Datadog by 9.3% during the first quarter. Yousif Capital Management LLC now owns 3,631 shares of the company’s stock valued at $550,000 after buying an additional 310 shares during the period. Dimensional Fund Advisors LP increased its holdings in Datadog by 11.7% during the first quarter. Dimensional Fund Advisors LP now owns 139,546 shares of the company’s stock valued at $21,137,000 after buying an additional 14,658 shares during the period. Finally, Blair William & Co. IL increased its holdings in Datadog by 20.0% during the first quarter. Blair William & Co. IL now owns 10,343 shares of the company’s stock valued at $1,567,000 after buying an additional 1,725 shares during the period. 78.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Datadog

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction on Monday, February 12th. The shares were sold at an average price of $135.10, for a total value of $17,171,885.50. Following the completion of the transaction, the chief technology officer now owns 247,328 shares of the company’s stock, valued at $33,414,012.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Datadog news, CRO Sean Michael Walters sold 10,000 shares of Datadog stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $129.86, for a total value of $1,298,600.00. Following the completion of the transaction, the executive now owns 162,706 shares of the company’s stock, valued at $21,129,001.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction on Monday, February 12th. The shares were sold at an average price of $135.10, for a total transaction of $17,171,885.50. Following the completion of the transaction, the chief technology officer now directly owns 247,328 shares of the company’s stock, valued at approximately $33,414,012.80. The disclosure for this sale can be found here. Insiders sold 745,984 shares of company stock worth $95,917,681 over the last three months. Company insiders own 14.97% of the company’s stock.

Datadog Trading Down 2.7 %

NASDAQ DDOG opened at $123.55 on Thursday. The company has a market capitalization of $41.00 billion, a PE ratio of 1,029.58 and a beta of 1.15. The company has a fifty day moving average of $126.31 and a 200 day moving average of $115.49. Datadog, Inc. has a 1 year low of $62.60 and a 1 year high of $138.61. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.17 and a quick ratio of 3.17.

Datadog (NASDAQ:DDOG) last posted its earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $589.65 million during the quarter, compared to the consensus estimate of $568.73 million. Datadog had a net margin of 2.28% and a return on equity of 3.79%. The firm’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.08) earnings per share. Research analysts forecast that Datadog, Inc. will post -0.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of Datadog from $145.00 to $151.00 and gave the company an “outperform” rating in a report on Wednesday, February 14th. Wolfe Research lifted their price target on shares of Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, February 14th. Needham & Company LLC lifted their price target on shares of Datadog from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Citigroup lifted their price target on shares of Datadog from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, January 22nd. Finally, William Blair reaffirmed an “outperform” rating on shares of Datadog in a report on Friday, February 16th. Six equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, Datadog has a consensus rating of “Moderate Buy” and an average price target of $130.52.

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.