American National Bank & Trust Makes New Investment in Datadog, Inc. (NASDAQ:DDOG)

American National Bank & Trust acquired a new position in shares of Datadog, Inc. (NASDAQ:DDOG) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 341 shares of the company’s stock, valued at approximately $39,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Riverview Trust Co acquired a new stake in Datadog in the 1st quarter worth about $26,000. SouthState Corp purchased a new stake in Datadog in the second quarter valued at approximately $26,000. Raleigh Capital Management Inc. purchased a new stake in Datadog in the fourth quarter valued at approximately $29,000. Jones Financial Companies Lllp acquired a new position in Datadog during the fourth quarter worth approximately $33,000. Finally, Blue Trust Inc. purchased a new position in Datadog during the second quarter worth approximately $37,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DDOG. Royal Bank of Canada reissued an “outperform” rating and set a $151.00 price objective on shares of Datadog in a research note on Friday, August 9th. Scotiabank lowered their price target on Datadog from $145.00 to $135.00 and set a “sector outperform” rating for the company in a research report on Friday, August 9th. Mizuho upgraded Datadog from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $135.00 to $155.00 in a report on Tuesday, July 16th. BMO Capital Markets decreased their target price on Datadog from $140.00 to $132.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Finally, UBS Group raised their price target on shares of Datadog from $120.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Four research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $140.85.

Insider Buying and Selling

In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $104.21, for a total transaction of $8,924,231.77. Following the sale, the chief executive officer now directly owns 405,314 shares of the company’s stock, valued at $42,237,771.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Olivier Pomel sold 85,637 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $104.21, for a total transaction of $8,924,231.77. Following the completion of the transaction, the chief executive officer now directly owns 405,314 shares of the company’s stock, valued at $42,237,771.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $111.66, for a total value of $14,192,544.30. Following the completion of the sale, the chief technology officer now directly owns 347,684 shares in the company, valued at approximately $38,822,395.44. The disclosure for this sale can be found here. Insiders have sold 422,991 shares of company stock worth $50,448,980 over the last ninety days. 11.78% of the stock is owned by insiders.

Datadog Stock Performance

DDOG opened at $117.53 on Friday. The company has a market capitalization of $39.31 billion, a P/E ratio of 367.28, a PEG ratio of 28.94 and a beta of 1.11. The company has a 50-day moving average of $113.43 and a 200-day moving average of $119.19. Datadog, Inc. has a 1-year low of $77.81 and a 1-year high of $138.61.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.06. The firm had revenue of $645.28 million during the quarter, compared to analyst estimates of $624.92 million. Datadog had a return on equity of 9.01% and a net margin of 6.81%. Datadog’s quarterly revenue was up 26.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.36 earnings per share. As a group, sell-side analysts expect that Datadog, Inc. will post 0.42 earnings per share for the current fiscal year.

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.