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

Truist Financial Corp grew its position in Datadog, Inc. (NASDAQ:DDOG) by 14.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,971 shares of the company’s stock after purchasing an additional 5,435 shares during the period. 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 also recently bought and sold shares of the company. Creative Planning raised its holdings in shares of Datadog by 17.6% during the third quarter. Creative Planning now owns 17,141 shares of the company’s stock worth $1,972,000 after acquiring an additional 2,563 shares during the period. Blue Trust Inc. raised its holdings in shares of Datadog by 80.3% during the third quarter. Blue Trust Inc. now owns 539 shares of the company’s stock worth $62,000 after acquiring an additional 240 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Datadog during the third quarter worth $4,038,000. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Datadog by 40.5% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 4,801 shares of the company’s stock worth $552,000 after acquiring an additional 1,383 shares during the period. Finally, IFM Investors Pty Ltd raised its holdings in shares of Datadog by 0.6% during the third quarter. IFM Investors Pty Ltd now owns 53,558 shares of the company’s stock worth $6,162,000 after acquiring an additional 318 shares during the period. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Datadog news, CEO Olivier Pomel sold 178,723 shares of Datadog stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $161.28, for a total value of $28,824,445.44. Following the completion of the sale, the chief executive officer now owns 379,693 shares in the company, valued at $61,236,887.04. The trade was a 32.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Kerry Acocella sold 2,488 shares of Datadog stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $158.04, for a total transaction of $393,203.52. Following the completion of the sale, the general counsel now owns 68,758 shares of the company’s stock, valued at $10,866,514.32. This trade represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 556,674 shares of company stock worth $82,904,025 in the last quarter. 11.78% of the stock is currently owned by corporate insiders.

Datadog Stock Performance

Shares of DDOG stock opened at $119.67 on Friday. The company has a market capitalization of $40.66 billion, a price-to-earnings ratio of 234.66, a PEG ratio of 44.03 and a beta of 1.15. The company has a 50-day simple moving average of $142.18 and a 200 day simple moving average of $131.76. Datadog, Inc. has a 52 week low of $98.80 and a 52 week high of $170.08.

Datadog (NASDAQ:DDOG) last announced its earnings results on Thursday, February 13th. The company reported $0.13 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%. Sell-side analysts forecast that Datadog, Inc. will post 0.34 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on DDOG shares. Scotiabank dropped their price objective on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. Barclays dropped their price objective on shares of Datadog from $187.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Wells Fargo & Company lowered shares of Datadog from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $152.00 to $140.00 in a research note on Thursday, February 13th. Robert W. Baird lifted their price target on shares of Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Guggenheim reiterated a “neutral” rating on shares of Datadog in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus 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.