Whittier Trust Co. of Nevada Inc. Purchases 2,442 Shares of Datadog, Inc. (NASDAQ:DDOG)

Whittier Trust Co. of Nevada Inc. grew its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 5.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,112 shares of the company's stock after acquiring an additional 2,442 shares during the period. Whittier Trust Co. of Nevada Inc.'s holdings in Datadog were worth $4,376,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Groupama Asset Managment raised its position in shares of Datadog by 407.6% during the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock worth $943,074,000 after purchasing an additional 5,299,688 shares during the last quarter. Janus Henderson Group PLC grew its stake in Datadog by 17,477.2% in the 4th quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company's stock worth $573,923,000 after acquiring an additional 3,993,707 shares during the period. Norges Bank purchased a new stake in Datadog in the 4th quarter worth approximately $462,910,000. Brown Advisory Inc. grew its stake in Datadog by 2,804.2% in the 4th quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company's stock worth $392,830,000 after acquiring an additional 2,654,512 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in Datadog by 341.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,569,341 shares of the company's stock worth $155,694,000 after acquiring an additional 1,213,475 shares during the period. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on DDOG shares. Wells Fargo & Company lowered their price objective on shares of Datadog from $140.00 to $115.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 7th. BTIG Research set a $136.00 price objective on shares of Datadog and gave the company a "buy" rating in a research note on Tuesday, May 6th. Bank of America boosted their price objective on shares of Datadog from $150.00 to $175.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Guggenheim reissued a "sell" rating and set a $105.00 price objective on shares of Datadog in a research note on Tuesday, July 8th. Finally, Morgan Stanley upped their price target on shares of Datadog from $115.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $145.34.

Insider Activity

In related news, CEO Olivier Pomel sold 107,365 shares of the stock in a transaction on Monday, June 9th. The shares were sold at an average price of $121.71, for a total transaction of $13,067,394.15. Following the completion of the transaction, the chief executive officer owned 548,715 shares in the company, valued at approximately $66,784,102.65. This represents a 16.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Matthew Jacobson sold 47,306 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $107.40, for a total transaction of $5,080,664.40. Following the completion of the sale, the director owned 25,468 shares of the company's stock, valued at approximately $2,735,263.20. This represents a 65.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 957,666 shares of company stock valued at $117,576,223. 8.70% of the stock is currently owned by company insiders.

Datadog Stock Performance

NASDAQ DDOG traded up $2.11 during midday trading on Friday, hitting $145.26. The company had a trading volume of 1,093,542 shares, compared to its average volume of 4,990,385. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.34. The firm has a fifty day simple moving average of $126.66 and a two-hundred day simple moving average of $120.74. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $170.08. The stock has a market cap of $50.16 billion, a price-to-earnings ratio of 315.61, a P/E/G ratio of 76.64 and a beta of 1.03.

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

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.