Pitcairn Co. Has $1.16 Million Position in Datadog, Inc. (NASDAQ:DDOG)

Pitcairn Co. lessened its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 19.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,354 shares of the company’s stock after selling 2,232 shares during the period. Pitcairn Co.’s holdings in Datadog were worth $1,156,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Riverview Trust Co purchased a new position in Datadog in the first quarter worth $26,000. Raleigh Capital Management Inc. purchased a new stake in shares of Datadog in the fourth quarter worth $29,000. Private Trust Co. NA grew its holdings in shares of Datadog by 743.3% during the fourth quarter. Private Trust Co. NA now owns 253 shares of the company’s stock worth $31,000 after purchasing an additional 223 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Datadog during the 4th quarter valued at $33,000. Finally, Quest Partners LLC purchased a new position in shares of Datadog in the 4th quarter worth about $36,000. 78.29% of the stock is owned by institutional investors.

Datadog Stock Up 2.5 %

Shares of NASDAQ:DDOG traded up $2.99 during midday trading on Thursday, hitting $120.31. 3,456,611 shares of the company’s stock traded hands, compared to its average volume of 4,052,785. The firm’s fifty day moving average price is $121.28 and its two-hundred day moving average price is $123.99. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.43 and a current ratio of 3.43. Datadog, Inc. has a twelve month low of $77.81 and a twelve month high of $138.61. The company has a market cap of $40.24 billion, a PE ratio of 368.28, a P/E/G ratio of 40.57 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.20. The business had revenue of $611.25 million for the quarter, compared to analysts’ expectations of $589.97 million. Datadog had a return on equity of 7.48% and a net margin of 5.11%. On average, equities research analysts anticipate that Datadog, Inc. will post 0.32 EPS for the current fiscal year.

Insider Buying and Selling

In other Datadog news, CEO Olivier Pomel sold 85,637 shares of Datadog stock in a transaction on Monday, May 6th. The stock was sold at an average price of $125.41, for a total transaction of $10,739,736.17. Following the sale, the chief executive officer now owns 337,247 shares of the company’s stock, valued at approximately $42,294,146.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Olivier Pomel sold 85,637 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $125.41, for a total transaction of $10,739,736.17. Following the completion of the sale, the chief executive officer now owns 337,247 shares in the company, valued at approximately $42,294,146.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $130.75, for a total transaction of $16,618,978.75. Following the sale, the chief technology officer now directly owns 279,025 shares in the company, valued at $36,482,518.75. The disclosure for this sale can be found here. Insiders sold a total of 857,606 shares of company stock worth $103,799,779 in the last three months. 11.78% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Evercore ISI started coverage on shares of Datadog in a report on Monday, July 15th. They issued an “outperform” rating and a $150.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $150.00 price target on shares of Datadog in a research note on Monday. JMP Securities upgraded Datadog to a “hold” rating in a research note on Wednesday, May 8th. Baird R W upgraded shares of Datadog from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 8th. Finally, BMO Capital Markets dropped their price objective on shares of Datadog from $155.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $138.21.

Datadog Company 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.