Whittier Trust Co. of Nevada Inc. Boosts Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Whittier Trust Co. of Nevada Inc. boosted its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 3.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,530 shares of the company’s stock after acquiring an additional 682 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Datadog were worth $2,247,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Riverview Trust Co purchased a new position in shares of Datadog in the first quarter valued at approximately $26,000. SouthState Corp purchased a new position in Datadog in the 2nd quarter valued at approximately $26,000. Blue Trust Inc. purchased a new stake in shares of Datadog during the second quarter worth $37,000. EverSource Wealth Advisors LLC raised its stake in shares of Datadog by 70.2% in the first quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock valued at $39,000 after acquiring an additional 127 shares in the last quarter. Finally, American National Bank & Trust purchased a new position in Datadog in the third quarter valued at $39,000. 78.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DDOG. BMO Capital Markets dropped their target price on Datadog from $140.00 to $132.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Needham & Company LLC lowered their price objective on shares of Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. UBS Group reissued an “underperform” rating on shares of Datadog in a report on Friday. Wedbush raised shares of Datadog from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. Finally, Evercore ISI initiated coverage on Datadog in a report on Monday, July 15th. They issued an “outperform” rating and a $150.00 target price for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Datadog has a consensus rating of “Moderate Buy” and an average price target of $142.43.

Datadog Stock Performance

Shares of NASDAQ DDOG opened at $125.81 on Tuesday. Datadog, Inc. has a 52-week low of $77.81 and a 52-week high of $138.61. The stock has a market cap of $42.08 billion, a P/E ratio of 393.16, a P/E/G ratio of 22.85 and a beta of 1.11. The firm has a 50 day moving average price of $116.86 and a 200 day moving average price of $119.44.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.06. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The firm had revenue of $645.28 million for the quarter, compared to the consensus estimate of $624.92 million. During the same quarter last year, the business posted $0.36 EPS. The company’s revenue for the quarter was up 26.7% on a year-over-year basis. Analysts predict that Datadog, Inc. will post 0.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Datadog

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $111.66, for a total value of $14,192,544.30. Following the transaction, the chief technology officer now directly owns 347,684 shares of the company’s stock, valued at $38,822,395.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Olivier Pomel sold 85,637 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $104.21, for a total transaction of $8,924,231.77. Following the completion of the transaction, the chief executive officer now directly owns 405,314 shares in the company, valued at $42,237,771.94. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $111.66, for a total value of $14,192,544.30. Following the sale, the chief technology officer now directly owns 347,684 shares in the company, valued at $38,822,395.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 529,928 shares of company stock valued at $63,079,091 in the last quarter. 11.78% of the stock is currently owned by insiders.

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.