National Bank of Canada FI Has $29.04 Million Stock Position in Datadog, Inc. (NASDAQ:DDOG)

National Bank of Canada FI raised its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 435.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 252,322 shares of the company's stock after acquiring an additional 205,188 shares during the period. National Bank of Canada FI owned approximately 0.08% of Datadog worth $29,037,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in DDOG. Vestmark Advisory Solutions Inc. grew its position in Datadog by 13.4% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 3,757 shares of the company's stock valued at $456,000 after buying an additional 445 shares during the last quarter. First National Trust Co acquired a new position in shares of Datadog during the fourth quarter worth about $287,000. U.S. Capital Wealth Advisors LLC purchased a new position in Datadog during the fourth quarter worth about $257,000. M&T Bank Corp raised its holdings in Datadog by 14.8% during the fourth quarter. M&T Bank Corp now owns 10,561 shares of the company's stock worth $1,282,000 after purchasing an additional 1,359 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its position in Datadog by 17.9% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 639 shares of the company's stock valued at $78,000 after purchasing an additional 97 shares during the period. 78.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Adam Blitzer sold 20,892 shares of Datadog stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $128.58, for a total value of $2,686,293.36. Following the transaction, the chief operating officer now directly owns 203,503 shares of the company's stock, valued at approximately $26,166,415.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO David M. Obstler sold 70,000 shares of the firm's stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $120.73, for a total transaction of $8,451,100.00. Following the sale, the chief financial officer now directly owns 275,191 shares in the company, valued at approximately $33,223,809.43. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Adam Blitzer sold 20,892 shares of the business's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $128.58, for a total value of $2,686,293.36. Following the transaction, the chief operating officer now directly owns 203,503 shares in the company, valued at $26,166,415.74. The disclosure for this sale can be found here. Insiders sold 626,593 shares of company stock worth $80,422,044 over the last three months. 11.78% of the stock is owned by insiders.

Datadog Trading Down 11.5 %

Shares of NASDAQ DDOG traded down $14.57 on Tuesday, reaching $112.40. 21,735,326 shares of the company traded hands, compared to its average volume of 4,242,298. The stock has a market capitalization of $37.30 billion, a PE ratio of 936.67 and a beta of 1.14. Datadog, Inc. has a fifty-two week low of $75.02 and a fifty-two week high of $138.61. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 0.37. The company has a 50 day moving average of $124.57 and a 200 day moving average of $119.16.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. Datadog had a net margin of 2.28% and a return on equity of 3.79%. The firm had revenue of $589.65 million during the quarter, compared to analyst estimates of $568.73 million. During the same quarter in the prior year, the business posted ($0.08) earnings per share. Datadog's revenue for the quarter was up 25.6% compared to the same quarter last year. On average, equities research analysts forecast that Datadog, Inc. will post -0.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on DDOG shares. Truist Financial increased their target price on Datadog from $140.00 to $155.00 and gave the stock a "buy" rating in a research note on Wednesday, February 14th. Stifel Nicolaus reissued a "buy" rating and issued a $152.00 target price on shares of Datadog in a report on Monday, April 22nd. Royal Bank of Canada increased their price target on shares of Datadog from $145.00 to $151.00 and gave the company an "outperform" rating in a report on Wednesday, February 14th. Rosenblatt Securities reiterated a "buy" rating and issued a $146.00 price objective on shares of Datadog in a research note on Monday. Finally, Barclays upped their target price on shares of Datadog from $138.00 to $152.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 14th. Five investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $136.04.

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.