Truist Financial Corp Has $4 Million Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Truist Financial Corp boosted its holdings in Datadog, Inc. (NASDAQ:DDOG) by 60.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,819 shares of the company’s stock after buying an additional 11,634 shares during the quarter. Truist Financial Corp’s holdings in Datadog were worth $3,997,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kodai Capital Management LP acquired a new stake in shares of Datadog in the 1st quarter valued at approximately $116,054,000. DNB Asset Management AS lifted its stake in Datadog by 1,974.5% in the 2nd quarter. DNB Asset Management AS now owns 847,600 shares of the company’s stock valued at $109,925,000 after purchasing an additional 806,741 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in Datadog by 1,597.9% in the second quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company’s stock valued at $101,841,000 after buying an additional 739,011 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Datadog by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 27,259,414 shares of the company’s stock worth $3,308,748,000 after buying an additional 734,539 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Datadog by 129.2% during the second quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock worth $79,384,000 after buying an additional 344,431 shares in the last quarter. Institutional investors own 78.29% of the company’s stock.

Datadog Trading Up 1.1 %

NASDAQ:DDOG opened at $123.72 on Wednesday. Datadog, Inc. has a 12 month low of $77.81 and a 12 month high of $138.61. The stock has a market capitalization of $41.38 billion, a price-to-earnings ratio of 386.63, a PEG ratio of 28.94 and a beta of 1.11. The firm has a fifty day simple moving average of $113.61 and a two-hundred day simple moving average of $119.15.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The company had revenue of $645.28 million for the quarter, compared to analysts’ expectations of $624.92 million. During the same quarter in the prior year, the firm earned $0.36 EPS. The business’s revenue was up 26.7% on a year-over-year basis. Equities analysts predict that Datadog, Inc. will post 0.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Barclays cut their price objective on Datadog from $145.00 to $140.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Wedbush restated an “outperform” rating and set a $155.00 price target on shares of Datadog in a report on Friday, August 9th. Monness Crespi & Hardt upgraded shares of Datadog from a “sell” rating to a “neutral” rating in a report on Wednesday, August 7th. BMO Capital Markets reduced their target price on shares of Datadog from $140.00 to $132.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Finally, Scotiabank reduced their price objective on shares of Datadog from $145.00 to $135.00 and set a “sector outperform” rating on the stock in a research note on Friday, August 9th. Four analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $141.19.

Insiders Place Their Bets

In other news, General Counsel Kerry Acocella sold 2,452 shares of Datadog stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $120.06, for a total transaction of $294,387.12. Following the completion of the transaction, the general counsel now directly owns 74,421 shares in the company, valued at $8,934,985.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Olivier Pomel sold 85,637 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $104.21, for a total value of $8,924,231.77. Following the completion of the sale, the chief executive officer now owns 405,314 shares in the company, valued at $42,237,771.94. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Kerry Acocella sold 2,452 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $120.06, for a total transaction of $294,387.12. Following the transaction, the general counsel now directly owns 74,421 shares in the company, valued at $8,934,985.26. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 240,282 shares of company stock worth $26,311,431. Insiders own 11.78% of the company’s stock.

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.