Fulton Bank N.A. Raises Stake in Datadog, Inc. (NASDAQ:DDOG)

Fulton Bank N.A. boosted its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 1.6% in the fourth quarter, HoldingsChannel reports. The fund owned 10,563 shares of the company’s stock after acquiring an additional 164 shares during the period. Fulton Bank N.A.’s holdings in Datadog were worth $1,282,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of DDOG. Anchor Investment Management LLC purchased a new position in Datadog during the 4th quarter valued at about $25,000. BluePath Capital Management LLC purchased a new position in Datadog during the 3rd quarter valued at about $31,000. Private Trust Co. NA lifted its position in Datadog by 743.3% during the 4th quarter. Private Trust Co. NA now owns 253 shares of the company’s stock valued at $31,000 after acquiring an additional 223 shares during the period. AM Squared Ltd purchased a new position in Datadog during the 3rd quarter valued at about $36,000. Finally, KB Financial Partners LLC purchased a new position in Datadog during the 1st quarter valued at about $37,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Datadog news, CFO David M. Obstler sold 3,732 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $125.36, for a total value of $467,843.52. Following the completion of the transaction, the chief financial officer now directly owns 275,191 shares in the company, valued at $34,497,943.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO David M. Obstler sold 3,732 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $125.36, for a total value of $467,843.52. Following the transaction, the chief financial officer now owns 275,191 shares of the company’s stock, valued at $34,497,943.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Olivier Pomel sold 133,315 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $129.82, for a total transaction of $17,306,953.30. Following the completion of the transaction, the chief executive officer now directly owns 299,075 shares in the company, valued at approximately $38,825,916.50. The disclosure for this sale can be found here. Insiders sold a total of 730,390 shares of company stock worth $93,147,705 over the last three months. 14.97% of the stock is currently owned by company insiders.

Datadog Stock Performance

Shares of NASDAQ DDOG opened at $124.40 on Friday. The firm has a 50 day moving average of $126.73 and a 200 day moving average of $113.25. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $41.28 billion, a price-to-earnings ratio of 1,036.67 and a beta of 1.15. Datadog, Inc. has a 12-month low of $62.60 and a 12-month high of $138.61.

Datadog (NASDAQ:DDOG) last announced its earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $589.65 million during the quarter, compared to analyst estimates of $568.73 million. Datadog had a net margin of 2.28% and a return on equity of 3.79%. The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.08) earnings per share. On average, research analysts anticipate that Datadog, Inc. will post -0.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

DDOG has been the subject of several recent analyst reports. Royal Bank of Canada lifted their target price on shares of Datadog from $145.00 to $151.00 and gave the stock an “outperform” rating in a report on Wednesday, February 14th. Needham & Company LLC lifted their target price on shares of Datadog from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Wolfe Research lifted their target price on shares of Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, February 14th. Truist Financial lifted their target price on shares of Datadog from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Finally, Barclays lifted their target price on shares of Datadog from $138.00 to $152.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Six analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat, Datadog presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.33.

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.