M&T Bank Corp Trims Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

M&T Bank Corp decreased its position in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 27.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,479 shares of the company's stock after selling 2,843 shares during the period. M&T Bank Corp's holdings in Datadog were worth $742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Exane Asset Management purchased a new position in Datadog in the 1st quarter worth $3,531,000. Brown Advisory Inc. raised its stake in Datadog by 76.5% in the 1st quarter. Brown Advisory Inc. now owns 4,853,012 shares of the company's stock worth $481,467,000 after acquiring an additional 2,103,838 shares during the last quarter. Financial Counselors Inc. raised its stake in Datadog by 3.8% in the 1st quarter. Financial Counselors Inc. now owns 40,558 shares of the company's stock worth $4,024,000 after acquiring an additional 1,499 shares during the last quarter. YANKCOM Partnership raised its stake in shares of Datadog by 12.0% during the 1st quarter. YANKCOM Partnership now owns 927 shares of the company's stock valued at $92,000 after buying an additional 99 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its stake in shares of Datadog by 41.2% during the 1st quarter. TD Private Client Wealth LLC now owns 6,660 shares of the company's stock valued at $661,000 after buying an additional 1,943 shares during the last quarter. Hedge funds and other institutional investors own 78.29% of the company's stock.

Wall Street Analysts Forecast Growth

DDOG has been the subject of a number of recent research reports. Jefferies Financial Group reiterated a "buy" rating on shares of Datadog in a research note on Tuesday, May 6th. Guggenheim reiterated a "sell" rating and set a $105.00 price objective on shares of Datadog in a research note on Tuesday, July 8th. Canaccord Genuity Group reduced their price objective on Datadog from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Truist Financial reduced their price objective on Datadog from $140.00 to $120.00 and set a "hold" rating for the company in a research note on Monday, March 31st. Finally, Macquarie reduced their price objective on Datadog from $175.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $144.27.

Datadog Trading Up 1.0%

Shares of Datadog stock opened at $138.80 on Tuesday. The stock has a market cap of $47.93 billion, a P/E ratio of 301.75, a P/E/G ratio of 75.99 and a beta of 1.03. The stock's 50 day simple moving average is $124.63 and its 200-day simple moving average is $120.48. Datadog, Inc. has a 1-year low of $81.63 and a 1-year high of $170.08. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.74 and a quick ratio of 2.74.

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

Insider Activity

In other news, Director Shardul Shah sold 7,916 shares of Datadog stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $120.86, for a total transaction of $956,727.76. Following the sale, the director owned 388,205 shares of the company's stock, valued at approximately $46,918,456.30. The trade was a 2.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Sean Michael Walters sold 9,469 shares of Datadog stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $150.00, for a total transaction of $1,420,350.00. Following the sale, the executive directly owned 212,324 shares in the company, valued at approximately $31,848,600. The trade was a 4.27% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 866,806 shares of company stock worth $104,910,027. 8.70% of the stock is owned by company 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.

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