Westpac Banking Corp Increases Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Westpac Banking Corp raised its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 33.5% during the fourth quarter, Holdings Channel reports. The firm owned 1,520 shares of the company’s stock after buying an additional 381 shares during the quarter. Westpac Banking Corp’s holdings in Datadog were worth $217,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Retirement Wealth Solutions LLC bought a new position in shares of Datadog in the 4th quarter worth about $30,000. Avior Wealth Management LLC raised its holdings in Datadog by 55.9% in the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after acquiring an additional 81 shares during the last quarter. Quarry LP purchased a new stake in Datadog during the 3rd quarter valued at $33,000. Kieckhefer Group LLC bought a new stake in shares of Datadog in the 4th quarter worth $43,000. Finally, Summit Securities Group LLC purchased a new position in shares of Datadog in the fourth quarter worth $43,000. 78.29% of the stock is owned by institutional investors.

Insider Activity

In other Datadog news, CEO Olivier Pomel sold 11,195 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $139.86, for a total transaction of $1,565,732.70. Following the completion of the transaction, the chief executive officer now owns 379,693 shares in the company, valued at $53,103,862.98. This trade represents a 2.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total value of $17,948,497.05. Following the sale, the chief technology officer now directly owns 324,778 shares in the company, valued at $45,861,901.38. This trade represents a 28.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 601,412 shares of company stock worth $75,444,584 over the last 90 days. Corporate insiders own 11.78% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on DDOG. Truist Financial dropped their price objective on Datadog from $140.00 to $120.00 and set a “hold” rating on the stock in a research report on Monday, March 31st. JMP Securities reiterated a “market perform” rating on shares of Datadog in a research note on Friday, February 14th. Stifel Nicolaus downgraded shares of Datadog from a “buy” rating to a “hold” rating and lowered their price objective for the company from $165.00 to $140.00 in a research report on Wednesday, January 29th. Mizuho lifted their target price on shares of Datadog from $155.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Loop Capital increased their price target on Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $157.22.

Datadog Trading Down 6.9 %

NASDAQ DDOG opened at $87.93 on Friday. Datadog, Inc. has a 12 month low of $86.57 and a 12 month high of $170.08. The stock has a market cap of $30.14 billion, a PE ratio of 172.42, a P/E/G ratio of 44.03 and a beta of 1.20. The stock’s 50 day moving average is $119.52 and its 200 day moving average is $130.21.

Datadog (NASDAQ:DDOG) last released its earnings results on Thursday, February 13th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. On average, analysts forecast that Datadog, Inc. will post 0.34 EPS for the current fiscal 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.