CNB Bank Purchases 161 Shares of Datadog, Inc. (NASDAQ:DDOG)

CNB Bank increased its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,898 shares of the company’s stock after purchasing an additional 161 shares during the quarter. CNB Bank’s holdings in Datadog were worth $352,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in DDOG. Institute for Wealth Management LLC. purchased a new position in Datadog during the 4th quarter worth $253,000. Twin Capital Management Inc. acquired a new position in Datadog in the 4th quarter worth about $1,756,000. Federated Hermes Inc. raised its holdings in Datadog by 30.0% in the 4th quarter. Federated Hermes Inc. now owns 404,105 shares of the company’s stock worth $49,050,000 after purchasing an additional 93,171 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Datadog by 83.3% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 550 shares of the company’s stock valued at $67,000 after purchasing an additional 250 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in Datadog by 4.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 30,689 shares of the company’s stock valued at $3,725,000 after purchasing an additional 1,330 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Price Performance

Shares of NASDAQ:DDOG traded down $4.93 during trading on Friday, hitting $120.09. 3,627,985 shares of the company were exchanged, compared to its average volume of 2,512,027. The business’s 50 day moving average is $125.89 and its 200-day moving average is $115.75. The company has a market capitalization of $39.85 billion, a P/E ratio of 1,000.75 and a beta of 1.15. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.37. Datadog, Inc. has a 1-year low of $62.60 and a 1-year high of $138.61.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Citigroup lifted their price target on Datadog from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, January 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $150.00 price target on shares of Datadog in a report on Wednesday. Truist Financial upped their price target on Datadog from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Barclays upped their price objective on Datadog from $138.00 to $152.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Finally, Robert W. Baird upped their price objective on Datadog from $120.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Six research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.52.

Insider Buying and Selling at Datadog

In other news, CEO Olivier Pomel sold 133,315 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $129.82, for a total transaction of $17,306,953.30. Following the completion of the sale, the chief executive officer now owns 299,075 shares in the company, valued at approximately $38,825,916.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Datadog news, CFO David M. Obstler sold 70,000 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $120.73, for a total value of $8,451,100.00. Following the transaction, the chief financial officer now owns 275,191 shares in the company, valued at $33,223,809.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Olivier Pomel sold 133,315 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $129.82, for a total transaction of $17,306,953.30. Following the completion of the transaction, the chief executive officer now owns 299,075 shares in the company, valued at $38,825,916.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 745,984 shares of company stock worth $95,917,681. Insiders own 14.97% of the company’s stock.

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.