Whittier Trust Co. of Nevada Inc. Acquires 722 Shares of Datadog, Inc. (NASDAQ:DDOG)

Whittier Trust Co. of Nevada Inc. lifted its holdings in Datadog, Inc. (NASDAQ:DDOG) by 4.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,848 shares of the company’s stock after acquiring an additional 722 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Datadog were worth $2,444,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Riverview Trust Co acquired a new stake in shares of Datadog in the 1st quarter valued at about $26,000. Raleigh Capital Management Inc. acquired a new stake in shares of Datadog in the 4th quarter valued at about $29,000. Jones Financial Companies Lllp acquired a new stake in shares of Datadog in the 4th quarter valued at about $33,000. Quest Partners LLC acquired a new stake in shares of Datadog in the 4th quarter valued at about $36,000. Finally, Blue Trust Inc. acquired a new stake in shares of Datadog in the 2nd quarter valued at about $37,000. 78.29% of the stock is owned by institutional investors.

Insider Activity

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $111.66, for a total transaction of $14,192,544.30. Following the completion of the transaction, the chief technology officer now directly owns 347,684 shares in the company, valued at approximately $38,822,395.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Olivier Pomel sold 85,637 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $104.21, for a total value 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $14,192,544.30. Following the completion of the transaction, the chief technology officer now owns 347,684 shares of the company’s stock, valued at $38,822,395.44. The disclosure for this sale can be found here. Insiders sold 857,006 shares of company stock worth $101,040,823 in the last three months. Corporate insiders own 11.78% of the company’s stock.

Analysts Set New Price Targets

DDOG has been the subject of several research reports. BMO Capital Markets reduced their target price on Datadog from $140.00 to $132.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Wedbush restated an “outperform” rating and issued a $155.00 target price on shares of Datadog in a research note on Friday, August 9th. Royal Bank of Canada restated an “outperform” rating and issued a $151.00 target price on shares of Datadog in a research note on Friday, August 9th. UBS Group boosted their target price on Datadog from $120.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Finally, Loop Capital restated a “buy” rating and issued a $160.00 target price on shares of Datadog in a research note on Friday, July 5th. Four equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $139.88.

Datadog Price Performance

Shares of DDOG traded up $2.10 during mid-day trading on Thursday, reaching $115.52. 1,243,974 shares of the stock traded hands, compared to its average volume of 3,967,009. The firm has a fifty day moving average price of $119.83 and a 200 day moving average price of $121.88. The company has a market cap of $38.64 billion, a price-to-earnings ratio of 363.50, a price-to-earnings-growth ratio of 37.24 and a beta of 1.11. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.34. Datadog, Inc. has a 1 year low of $77.81 and a 1 year high of $138.61.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. The firm had revenue of $645.28 million during the quarter, compared to analyst estimates of $624.92 million. Datadog had a net margin of 5.11% and a return on equity of 7.48%. The business’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.36 EPS. As a group, equities research analysts predict that Datadog, Inc. will post 0.32 earnings per share 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.