PNC Financial Services Group Inc. Raises Stock Position in Datadog, Inc. (NASDAQ:DDOG)

PNC Financial Services Group Inc. raised its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 37.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 18,192 shares of the company's stock after purchasing an additional 4,989 shares during the period. PNC Financial Services Group Inc.'s holdings in Datadog were worth $2,599,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in DDOG. Atria Investments Inc boosted its stake in shares of Datadog by 9.5% in the 3rd quarter. Atria Investments Inc now owns 4,802 shares of the company's stock worth $553,000 after buying an additional 416 shares during the last quarter. Sigma Planning Corp boosted its stake in shares of Datadog by 8.9% in the 3rd quarter. Sigma Planning Corp now owns 5,645 shares of the company's stock worth $649,000 after buying an additional 460 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Datadog by 8.8% in the 3rd quarter. Victory Capital Management Inc. now owns 256,051 shares of the company's stock worth $29,461,000 after buying an additional 20,758 shares during the last quarter. MQS Management LLC purchased a new position in shares of Datadog in the 3rd quarter worth approximately $236,000. Finally, Kovack Advisors Inc. boosted its stake in shares of Datadog by 3.9% in the 3rd quarter. Kovack Advisors Inc. now owns 4,799 shares of the company's stock worth $552,000 after buying an additional 179 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company's stock.

Insider Buying and Selling at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $141.21, for a total transaction of $17,948,497.05. Following the sale, the chief technology officer now owns 324,778 shares in the company, valued at $45,861,901.38. This represents a 28.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Sean Michael Walters sold 8,454 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total transaction of $862,646.16. Following the sale, the executive now owns 185,871 shares in the company, valued at approximately $18,966,276.84. The trade was a 4.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 645,638 shares of company stock valued at $82,099,946. Corporate insiders own 11.78% of the company's stock.

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Datadog Price Performance

DDOG stock traded down $1.04 during trading on Tuesday, reaching $102.93. The company had a trading volume of 2,994,119 shares, compared to its average volume of 4,058,635. Datadog, Inc. has a 52 week low of $98.30 and a 52 week high of $170.08. The company has a market cap of $35.28 billion, a P/E ratio of 201.83, a PEG ratio of 44.03 and a beta of 1.22. The business has a 50 day moving average of $129.97 and a 200 day moving average of $131.27.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. Research analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current year.

Analyst Ratings Changes

DDOG has been the topic of a number of research analyst reports. Stifel Nicolaus downgraded Datadog from a "buy" rating to a "hold" rating and cut their target price for the stock from $165.00 to $140.00 in a research note on Wednesday, January 29th. Wells Fargo & Company downgraded Datadog from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $152.00 to $140.00 in a research note on Thursday, February 13th. DA Davidson lifted their price target on shares of Datadog from $150.00 to $165.00 and gave the stock a "buy" rating in a report on Monday, February 10th. Needham & Company LLC reaffirmed a "buy" rating and issued a $160.00 price target on shares of Datadog in a report on Tuesday, March 4th. Finally, Guggenheim reaffirmed a "neutral" rating on shares of Datadog in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $158.70.

About Datadog

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.