PNC Financial Services Group Inc. Sells 8,117 Shares of Datadog, Inc. (NASDAQ:DDOG)

PNC Financial Services Group Inc. lessened its position in Datadog, Inc. (NASDAQ:DDOG) by 50.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 8,083 shares of the company’s stock after selling 8,117 shares during the period. PNC Financial Services Group Inc.’s holdings in Datadog were worth $981,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in DDOG. Anchor Investment Management LLC bought a new stake in shares of Datadog in the 4th quarter worth about $25,000. Raleigh Capital Management Inc. purchased a new position in Datadog in the 4th quarter worth about $29,000. Private Trust Co. NA increased its stake in Datadog by 743.3% in the 4th quarter. Private Trust Co. NA now owns 253 shares of the company’s stock worth $31,000 after buying an additional 223 shares during the period. Jones Financial Companies Lllp purchased a new position in Datadog in the 4th quarter worth about $33,000. Finally, Quest Partners LLC purchased a new position in Datadog in the 4th quarter worth about $36,000. Institutional investors own 78.29% of the company’s stock.

Insider Buying and Selling

In related news, COO Adam Blitzer sold 11,946 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $109.45, for a total value of $1,307,489.70. Following the completion of the sale, the chief operating officer now owns 236,640 shares of the company’s stock, valued at approximately $25,900,248. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, COO Adam Blitzer sold 11,946 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $109.45, for a total value of $1,307,489.70. Following the completion of the sale, the chief operating officer now owns 236,640 shares of the company’s stock, valued at approximately $25,900,248. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Olivier Pomel sold 98,690 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $109.16, for a total transaction of $10,773,000.40. Following the completion of the sale, the chief executive officer now directly owns 324,539 shares of the company’s stock, valued at approximately $35,426,677.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 694,236 shares of company stock valued at $81,793,845. 11.78% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on DDOG. Robert W. Baird raised shares of Datadog from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $130.00 to $140.00 in a research note on Wednesday, May 8th. Rosenblatt Securities reissued a “buy” rating and set a $146.00 target price on shares of Datadog in a research report on Monday, May 6th. JMP Securities raised shares of Datadog to a “hold” rating in a research report on Wednesday, May 8th. Wedbush reissued an “outperform” rating and set a $155.00 target price on shares of Datadog in a research report on Monday, May 6th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $152.00 target price on shares of Datadog in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $136.04.

Datadog Price Performance

NASDAQ:DDOG opened at $117.57 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 3.43. The firm has a market cap of $39.33 billion, a price-to-earnings ratio of 367.41, a price-to-earnings-growth ratio of 45.23 and a beta of 1.09. The company has a 50 day moving average price of $119.86 and a 200-day moving average price of $122.90. Datadog, Inc. has a 1-year low of $77.81 and a 1-year high of $138.61.

Datadog (NASDAQ:DDOG) last posted its earnings results on Tuesday, May 7th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.20. The firm had revenue of $611.25 million during the quarter, compared to analyst estimates of $589.97 million. Datadog had a net margin of 5.11% and a return on equity of 7.48%. Equities research analysts forecast that Datadog, Inc. will post 0.27 EPS for the current year.

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.