Westpac Banking Corp Grows Holdings in Datadog, Inc. $DDOG

Key Points

• Westpac Banking Corp increased its Datadog stake by 33.9% in the fourth quarter, buying 6,069 more shares and bringing its total to 23,975 shares worth about $3.26 million.
• Datadog reported strong quarterly results, with EPS of $0.60 beating estimates and revenue of $1.01 billion topping expectations, while revenue rose 32.1% year over year.
• Analysts remain generally upbeat on the stock, with multiple firms raising price targets and the consensus rating at Moderate Buy with an average target price of $219.69.

Westpac Banking Corp lifted its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 33.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,975 shares of the company's stock after buying an additional 6,069 shares during the quarter. Westpac Banking Corp's holdings in Datadog were worth $3,260,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Datadog by 30.3% in the 3rd quarter. Vanguard Group Inc. now owns 41,902,227 shares of the company's stock worth $5,966,877,000 after buying an additional 9,748,738 shares during the period. State Street Corp grew its position in shares of Datadog by 106.8% in the 3rd quarter. State Street Corp now owns 13,732,777 shares of the company's stock worth $1,955,547,000 after buying an additional 7,091,075 shares during the period. Geode Capital Management LLC boosted its stake in Datadog by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 9,056,086 shares of the company's stock worth $1,227,184,000 after purchasing an additional 197,816 shares in the last quarter. Jennison Associates LLC boosted its stake in Datadog by 43.7% in the 4th quarter. Jennison Associates LLC now owns 7,623,993 shares of the company's stock worth $1,036,787,000 after purchasing an additional 2,316,994 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Datadog by 119.2% in the 3rd quarter. Invesco Ltd. now owns 4,075,721 shares of the company's stock worth $580,383,000 after purchasing an additional 2,216,402 shares in the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Datadog Price Performance

DDOG opened at $269.13 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.40 and a current ratio of 3.40. The stock has a market capitalization of $95.80 billion, a P/E ratio of 708.26, a P/E/G ratio of 29.71 and a beta of 1.56. The company's 50-day simple moving average is $157.16 and its two-hundred day simple moving average is $143.23. Datadog, Inc. has a 52-week low of $98.01 and a 52-week high of $278.70.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.09. The business had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $960.12 million. Datadog had a net margin of 3.69% and a return on equity of 4.83%. The business's revenue for the quarter was up 32.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 EPS. Datadog has set its FY 2026 guidance at 2.360-2.440 EPS and its Q2 2026 guidance at 0.570-0.590 EPS. As a group, analysts predict that Datadog, Inc. will post 0.61 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on DDOG shares. Evercore reiterated an "outperform" rating and issued a $225.00 price target on shares of Datadog in a research note on Thursday, May 7th. Wedbush upped their price target on shares of Datadog from $190.00 to $220.00 and gave the stock an "outperform" rating in a research note on Thursday, May 7th. Morgan Stanley upped their price target on shares of Datadog from $180.00 to $225.00 and gave the stock an "overweight" rating in a research note on Friday, May 8th. Needham & Company LLC upped their price target on shares of Datadog from $155.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday, May 8th. Finally, Wall Street Zen upgraded shares of Datadog from a "hold" rating to a "buy" rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, forty have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $219.69.

Insider Buying and Selling at Datadog

In other Datadog news, CTO Alexis Le-Quoc sold 53,912 shares of the company's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $125.49, for a total transaction of $6,765,416.88. Following the transaction, the chief technology officer owned 437,257 shares in the company, valued at approximately $54,871,380.93. This represents a 10.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew Jacobson sold 52,832 shares of the company's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $189.28, for a total transaction of $10,000,040.96. Following the transaction, the director owned 622,726 shares in the company, valued at $117,869,577.28. This represents a 7.82% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 848,198 shares of company stock worth $135,415,163. Company insiders own 6.48% of the company's stock.

Datadog Profile

Datadog NASDAQ: DDOG is a cloud-based monitoring and observability platform that helps organizations monitor, troubleshoot and secure their applications and infrastructure at scale. Its software-as-a-service offering collects and analyzes metrics, traces and logs from servers, containers, cloud services and applications to provide real-time visibility into system performance and health. Datadog's platform is widely used by engineering, operations and security teams to reduce downtime, accelerate incident response and improve application reliability.

The company's product suite includes infrastructure monitoring, application performance monitoring (APM), log management, real user monitoring (RUM), synthetic monitoring and network performance monitoring, along with security-focused products such as security monitoring and cloud SIEM.

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