Truist Financial Corp Has $6.14 Million Position in Datadog, Inc. (NASDAQ:DDOG)

Truist Financial Corp grew its position in Datadog, Inc. (NASDAQ:DDOG) by 14.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 42,971 shares of the company’s stock after purchasing an additional 5,435 shares during the quarter. Truist Financial Corp’s holdings in Datadog were worth $6,140,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in DDOG. True Wealth Design LLC raised its position in shares of Datadog by 12,000.0% in the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after buying an additional 240 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new position in shares of Datadog in the 4th quarter valued at approximately $30,000. Avior Wealth Management LLC raised its position in shares of Datadog by 55.9% in the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after buying an additional 81 shares in the last quarter. Meeder Asset Management Inc. raised its position in shares of Datadog by 66.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after buying an additional 115 shares in the last quarter. Finally, Quarry LP acquired a new position in Datadog during the 3rd quarter worth approximately $33,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Stock Down 5.2 %

Shares of NASDAQ DDOG opened at $119.67 on Friday. The firm has a market cap of $40.66 billion, a PE ratio of 234.66, a P/E/G ratio of 44.03 and a beta of 1.15. Datadog, Inc. has a 12-month low of $98.80 and a 12-month high of $170.08. The company’s fifty day simple moving average is $142.18 and its 200 day simple moving average is $131.76.

Datadog (NASDAQ:DDOG) last issued its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share (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, equities analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current year.

Insider Buying and Selling

In other Datadog news, Director Amit Agarwal sold 25,000 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $139.47, for a total transaction of $3,486,750.00. Following the transaction, the director now owns 195,667 shares in the company, valued at approximately $27,289,676.49. This represents a 11.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Kerry Acocella sold 2,488 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $158.04, for a total transaction of $393,203.52. Following the transaction, the general counsel now owns 68,758 shares in the company, valued at approximately $10,866,514.32. The trade was a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 556,674 shares of company stock valued at $82,904,025 over the last ninety days. 11.78% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

DDOG has been the subject of a number of research analyst reports. Barclays lowered their price objective on shares of Datadog from $187.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Robert W. Baird upped their price objective on shares of Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Monness Crespi & Hardt upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a research report on Thursday, November 7th. Cantor Fitzgerald initiated coverage on shares of Datadog in a research report on Friday, January 17th. They set an “overweight” rating and a $180.00 price objective for the company. Finally, Scotiabank lowered their price objective on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $158.39.

Datadog 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.