PNC Financial Services Group Inc. Has $2.66 Million Stake in Datadog, Inc. $DDOG

PNC Financial Services Group Inc. raised its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 6.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,769 shares of the company’s stock after buying an additional 1,255 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Datadog were worth $2,656,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in Datadog by 887.0% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 25,199 shares of the company’s stock worth $25,000 after purchasing an additional 22,646 shares during the period. Costello Asset Management INC acquired a new stake in Datadog during the 1st quarter worth $30,000. Interchange Capital Partners LLC acquired a new stake in shares of Datadog during the second quarter worth $42,000. Ameritas Advisory Services LLC acquired a new stake in Datadog in the 2nd quarter valued at approximately $55,000. Finally, True Wealth Design LLC lifted its position in shares of Datadog by 679.1% in the second quarter. True Wealth Design LLC now owns 522 shares of the company’s stock worth $70,000 after purchasing an additional 455 shares in the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on DDOG shares. TD Cowen boosted their target price on shares of Datadog from $180.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Truist Financial boosted their target price on shares of Datadog from $140.00 to $195.00 and gave the company a “hold” rating in a research report on Friday, November 7th. JPMorgan Chase & Co. upped their target price on Datadog from $140.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. CIBC raised shares of Datadog from a “neutral” rating to a “sector outperform” rating and set a $240.00 price target for the company in a report on Friday, November 7th. Finally, Wells Fargo & Company upped their price objective on shares of Datadog from $190.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Thirty-one investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $207.38.

Datadog Trading Down 2.1%

NASDAQ:DDOG opened at $176.46 on Wednesday. Datadog, Inc. has a 12 month low of $81.63 and a 12 month high of $201.69. The company has a current ratio of 3.66, a quick ratio of 3.66 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $61.88 billion, a price-to-earnings ratio of 569.23, a PEG ratio of 40.92 and a beta of 1.20. The firm has a fifty day simple moving average of $157.22 and a two-hundred day simple moving average of $139.41.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.10. The company had revenue of $885.65 million for the quarter, compared to analysts’ expectations of $852.77 million. Datadog had a net margin of 3.32% and a return on equity of 4.14%. The business’s revenue was up 28.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.46 EPS. Datadog has set its FY 2025 guidance at 2.000-2.020 EPS. Q4 2025 guidance at 0.54-0.56 EPS. Analysts expect that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Insider Transactions at Datadog

In other news, CTO Alexis Le-Quoc sold 55,352 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $133.83, for a total transaction of $7,407,758.16. Following the transaction, the chief technology officer directly owned 438,885 shares of the company’s stock, valued at $58,735,979.55. This represents a 11.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Olivier Pomel sold 63,939 shares of the stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $165.02, for a total value of $10,551,213.78. Following the completion of the transaction, the chief executive officer owned 533,358 shares in the company, valued at approximately $88,014,737.16. This represents a 10.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,979,841 shares of company stock worth $303,130,605 in the last three months. Insiders own 8.70% of the company’s stock.

About Datadog

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.