Citizens Financial Group Inc. RI Takes Position in Datadog, Inc. (NASDAQ:DDOG)

Citizens Financial Group Inc. RI purchased a new position in shares of Datadog, Inc. (NASDAQ:DDOG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,955 shares of the company’s stock, valued at approximately $1,032,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Riverview Trust Co acquired a new stake in shares of Datadog during the 1st quarter worth $26,000. SouthState Corp bought a new position in Datadog in the 2nd quarter valued at about $26,000. Raleigh Capital Management Inc. bought a new position in Datadog in the 4th quarter valued at about $29,000. Jones Financial Companies Lllp acquired a new position in shares of Datadog in the 4th quarter valued at approximately $33,000. Finally, Quest Partners LLC acquired a new stake in shares of Datadog during the 4th quarter worth approximately $36,000. Institutional investors own 78.29% of the company’s stock.

Wall Street Analysts Forecast Growth

DDOG has been the subject of several recent analyst reports. Barclays cut their target price on Datadog from $145.00 to $140.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. BTIG Research raised Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective on the stock in a research note on Thursday, August 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $151.00 price objective on shares of Datadog in a research report on Friday, August 9th. BMO Capital Markets cut their target price on shares of Datadog from $140.00 to $132.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Finally, UBS Group upped their price target on shares of Datadog from $120.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $139.88.

Datadog Stock Up 0.5 %

Shares of DDOG opened at $111.93 on Wednesday. Datadog, Inc. has a twelve month low of $77.81 and a twelve month high of $138.61. The stock has a market cap of $37.44 billion, a PE ratio of 349.78, a P/E/G ratio of 27.84 and a beta of 1.11. The business’s 50-day moving average price is $115.40 and its 200-day moving average price is $119.81.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The firm had revenue of $645.28 million during the quarter, compared to analyst estimates of $624.92 million. During the same period in the previous year, the business earned $0.36 EPS. The business’s revenue for the quarter was up 26.7% on a year-over-year basis. Analysts expect that Datadog, Inc. will post 0.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Olivier Pomel sold 200,993 shares of Datadog stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $131.01, for a total transaction of $26,332,092.93. Following the completion of the sale, the chief executive officer now owns 324,539 shares in the company, valued at approximately $42,517,854.39. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Olivier Pomel sold 200,993 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $131.01, for a total value of $26,332,092.93. Following the transaction, the chief executive officer now owns 324,539 shares of the company’s stock, valued at approximately $42,517,854.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Matthew Jacobson sold 9,256 shares of Datadog stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the sale, the director now directly owns 48,411 shares of the company’s stock, valued at $5,230,808.55. The disclosure for this sale can be found here. Insiders sold a total of 561,997 shares of company stock worth $68,517,631 over the last ninety days. 11.78% of the stock is owned by corporate insiders.

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.