3,000 Shares in Datadog, Inc. (NASDAQ:DDOG) Bought by Intrust Bank NA

Key Points

• Intrust Bank NA acquired a new stake in Datadog, purchasing 3,000 shares valued at approximately $298,000 in the first quarter, contributing to institutional investors owning 78.29% of the company's stock.
• Datadog's quarterly earnings exceeded expectations, reporting a net revenue of $826.76 million and an EPS of $0.46, with a significant year-over-year revenue growth of 28.1%.
• Recent insider sales included Director Shardul Shah selling 7,924 shares and CEO Olivier Pomel selling 11,195 shares, representing a decrease in their holdings of 2.04% and 2.00%, respectively.

Intrust Bank NA bought a new position in Datadog, Inc. (NASDAQ:DDOG - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,000 shares of the company's stock, valued at approximately $298,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Datadog by 32.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 15,506 shares of the company's stock worth $2,216,000 after purchasing an additional 3,760 shares in the last quarter. LBP AM SA boosted its holdings in shares of Datadog by 40.2% in the 1st quarter. LBP AM SA now owns 419,805 shares of the company's stock worth $41,649,000 after purchasing an additional 120,343 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Datadog by 24.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 787,344 shares of the company's stock valued at $78,112,000 after acquiring an additional 156,152 shares during the period. Total Wealth Planning & Management Inc. purchased a new stake in Datadog during the 4th quarter valued at about $314,000. Finally, Soros Fund Management LLC boosted its holdings in Datadog by 14.3% during the 4th quarter. Soros Fund Management LLC now owns 192,190 shares of the company's stock valued at $27,462,000 after acquiring an additional 24,100 shares during the period. 78.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

DDOG has been the subject of several analyst reports. Canaccord Genuity Group increased their target price on Datadog from $145.00 to $160.00 and gave the company a "buy" rating in a report on Friday. Cantor Fitzgerald raised their price objective on Datadog from $171.00 to $179.00 and gave the company an "overweight" rating in a research report on Thursday. Monness Crespi & Hardt increased their target price on Datadog from $160.00 to $185.00 and gave the company a "buy" rating in a research note on Thursday. UBS Group set a $165.00 target price on Datadog and gave the company a "buy" rating in a research note on Thursday. Finally, Scotiabank reiterated an "outperform" rating on shares of Datadog in a research note on Friday. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $151.72.

Datadog Trading Down 4.0%

NASDAQ DDOG traded down $5.47 during trading hours on Friday, hitting $130.91. 10,857,862 shares of the company were exchanged, compared to its average volume of 5,445,083. The stock has a 50-day moving average price of $135.18 and a 200 day moving average price of $120.76. The company has a quick ratio of 2.74, a current ratio of 3.43 and a debt-to-equity ratio of 0.31. Datadog, Inc. has a 52 week low of $81.63 and a 52 week high of $170.08. The stock has a market cap of $45.21 billion, a PE ratio of 374.04, a price-to-earnings-growth ratio of 71.99 and a beta of 1.02.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.05. The firm had revenue of $826.76 million during the quarter, compared to analyst estimates of $791.72 million. Datadog had a return on equity of 5.04% and a net margin of 4.13%. Datadog's quarterly revenue was up 28.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 earnings per share. Analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Activity at Datadog

In other Datadog news, CRO Sean Michael Walters sold 9,469 shares of the company's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $150.00, for a total transaction of $1,420,350.00. Following the completion of the sale, the executive owned 212,324 shares in the company, valued at $31,848,600. This represents a 4.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shardul Shah sold 7,924 shares of the company's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $140.80, for a total value of $1,115,699.20. Following the sale, the director owned 380,281 shares of the company's stock, valued at approximately $53,543,564.80. This represents a 2.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 835,918 shares of company stock valued at $106,308,669 over the last 90 days. Insiders own 8.70% of the company's stock.

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.