Keybank National Association OH Acquires 3,567 Shares of Datadog, Inc. (NASDAQ:DDOG)

Keybank National Association OH lifted its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 36.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,323 shares of the company's stock after purchasing an additional 3,567 shares during the quarter. Keybank National Association OH's holdings in Datadog were worth $1,322,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in DDOG. Putney Financial Group LLC purchased a new position in shares of Datadog in the 4th quarter worth $32,000. Elequin Capital LP purchased a new position in Datadog in the fourth quarter valued at about $34,000. Opal Wealth Advisors LLC purchased a new position in Datadog in the first quarter valued at about $37,000. Center for Financial Planning Inc. raised its position in Datadog by 1,189.7% in the first quarter. Center for Financial Planning Inc. now owns 374 shares of the company's stock valued at $37,000 after purchasing an additional 345 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its position in Datadog by 74.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 381 shares of the company's stock valued at $38,000 after purchasing an additional 162 shares during the period. Institutional investors and hedge funds own 78.29% of the company's stock.

Analyst Ratings Changes

DDOG has been the subject of several recent analyst reports. Royal Bank Of Canada restated an "outperform" rating and set a $119.00 target price on shares of Datadog in a research note on Wednesday, May 7th. Morgan Stanley lowered their target price on Datadog from $143.00 to $115.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Needham & Company LLC set a $140.00 price target on Datadog and gave the stock a "buy" rating in a research note on Thursday, June 12th. DA Davidson lifted their price target on Datadog from $115.00 to $125.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Finally, Rosenblatt Securities decreased their price target on Datadog from $160.00 to $150.00 and set a "buy" rating for the company in a research note on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, Datadog presently has a consensus rating of "Moderate Buy" and a consensus target price of $142.60.

Datadog Price Performance

NASDAQ:DDOG traded down $6.31 during midday trading on Tuesday, hitting $146.10. 13,070,923 shares of the stock were exchanged, compared to its average volume of 4,635,061. Datadog, Inc. has a one year low of $81.63 and a one year high of $170.08. The company has a market capitalization of $50.46 billion, a price-to-earnings ratio of 317.62, a P/E/G ratio of 85.83 and a beta of 1.03. The business has a 50-day moving average price of $121.01 and a two-hundred day moving average price of $120.73. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.34.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.04. Datadog had a return on equity of 6.39% and a net margin of 5.85%. The company had revenue of $761.55 million for the quarter, compared to analysts' expectations of $741.73 million. During the same quarter in the prior year, the company earned $0.44 earnings per share. The firm's revenue was up 24.6% on a year-over-year basis. Sell-side analysts predict that Datadog, Inc. will post 0.34 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Olivier Pomel sold 100,754 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $131.88, for a total transaction of $13,287,437.52. Following the completion of the transaction, the chief executive officer owned 548,715 shares of the company's stock, valued at approximately $72,364,534.20. This represents a 15.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amit Agarwal sold 23,058 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $130.87, for a total transaction of $3,017,600.46. Following the transaction, the director directly owned 31,298 shares of the company's stock, valued at $4,095,969.26. This represents a 42.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 794,413 shares of company stock worth $94,440,927 in the last 90 days. 8.70% of the stock is owned by corporate 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.