Truist Financial Corp Buys 5,435 Shares of Datadog, Inc. (NASDAQ:DDOG)

Truist Financial Corp raised its position in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 14.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,971 shares of the company's stock after acquiring an additional 5,435 shares during the period. Truist Financial Corp's holdings in Datadog were worth $6,140,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Jennison Associates LLC lifted its position in Datadog by 47.9% in the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company's stock worth $1,325,826,000 after purchasing an additional 3,005,300 shares during the period. Baillie Gifford & Co. boosted its position in shares of Datadog by 15.8% during the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company's stock valued at $1,558,234,000 after acquiring an additional 1,484,562 shares in the last quarter. Holocene Advisors LP increased its stake in Datadog by 205.2% in the third quarter. Holocene Advisors LP now owns 1,632,870 shares of the company's stock valued at $187,878,000 after acquiring an additional 1,097,815 shares during the period. Champlain Investment Partners LLC acquired a new position in Datadog in the third quarter worth about $52,561,000. Finally, Eagle Asset Management Inc. lifted its stake in Datadog by 72.4% during the third quarter. Eagle Asset Management Inc. now owns 914,776 shares of the company's stock worth $113,844,000 after purchasing an additional 384,121 shares during the period. Institutional investors own 78.29% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on DDOG. Monness Crespi & Hardt upgraded Datadog from a "neutral" rating to a "buy" rating and set a $155.00 price objective for the company in a research note on Thursday, November 7th. Macquarie restated an "outperform" rating and issued a $200.00 price target on shares of Datadog in a research report on Tuesday, February 11th. Royal Bank of Canada lifted their target price on shares of Datadog from $151.00 to $170.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. Citigroup reduced their price objective on Datadog from $170.00 to $165.00 and set a "buy" rating on the stock in a report on Friday, February 14th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $160.00 target price on shares of Datadog in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $158.70.

Insider Buying and Selling at Datadog

In other news, General Counsel Kerry Acocella sold 2,488 shares of the company's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $158.04, for a total transaction of $393,203.52. Following the completion of the transaction, the general counsel now owns 68,758 shares of the company's stock, valued at approximately $10,866,514.32. This represents a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Olivier Pomel sold 178,723 shares of the company's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the completion of the sale, the chief executive officer now directly owns 379,693 shares in the company, valued at approximately $61,236,887.04. The trade was a 32.01 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 556,674 shares of company stock valued at $82,904,025. 11.78% of the stock is currently owned by corporate insiders.

Datadog Stock Down 0.1 %

Shares of DDOG traded down $0.14 during trading on Wednesday, reaching $114.84. The company's stock had a trading volume of 2,314,941 shares, compared to its average volume of 5,218,398. The company has a fifty day moving average of $140.58 and a two-hundred day moving average of $131.97. Datadog, Inc. has a twelve month low of $98.80 and a twelve month high of $170.08. The company has a market cap of $39.01 billion, a price-to-earnings ratio of 225.25, a P/E/G ratio of 44.03 and a beta of 1.15.

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