PNC Financial Services Group Inc. Acquires 1,255 Shares of Datadog, Inc. $DDOG

PNC Financial Services Group Inc. boosted its holdings in Datadog, Inc. (NASDAQ:DDOG) by 6.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 19,769 shares of the company’s stock after purchasing an additional 1,255 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Datadog were worth $2,656,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Wealth Alliance LLC purchased a new stake in shares of Datadog in the second quarter worth approximately $212,000. Forsta AP Fonden grew its holdings in Datadog by 3.2% during the second quarter. Forsta AP Fonden now owns 58,300 shares of the company’s stock worth $7,831,000 after buying an additional 1,800 shares in the last quarter. KBC Group NV grew its holdings in Datadog by 1.7% during the second quarter. KBC Group NV now owns 300,172 shares of the company’s stock worth $40,322,000 after buying an additional 5,076 shares in the last quarter. IMA Advisory Services Inc. raised its position in Datadog by 1.3% in the 2nd quarter. IMA Advisory Services Inc. now owns 31,974 shares of the company’s stock valued at $4,295,000 after buying an additional 412 shares during the last quarter. Finally, STF Management LP lifted its stake in Datadog by 2.3% during the 2nd quarter. STF Management LP now owns 4,534 shares of the company’s stock valued at $609,000 after acquiring an additional 104 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Stock Down 2.1%

Shares of NASDAQ:DDOG opened at $176.46 on Wednesday. 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’s 50-day moving average price is $157.22 and its 200-day moving average price is $139.41. The stock has a market capitalization of $61.88 billion, a P/E ratio of 569.23, a price-to-earnings-growth ratio of 40.92 and a beta of 1.20. Datadog, Inc. has a 12-month low of $81.63 and a 12-month high of $201.69.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.45 by $0.10. The firm had revenue of $885.65 million during the quarter, compared to the consensus estimate of $852.77 million. Datadog had a net margin of 3.32% and a return on equity of 4.14%. The company’s quarterly revenue was up 28.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.46 earnings per share. Datadog has set its FY 2025 guidance at 2.000-2.020 EPS. Q4 2025 guidance at 0.54-0.56 EPS. On average, equities analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Matthew Jacobson sold 31,810 shares of the stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $200.14, for a total value of $6,366,453.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Olivier Pomel sold 62,682 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $163.90, for a total value of $10,273,579.80. Following the transaction, the chief executive officer directly owned 533,358 shares in the company, valued at $87,417,376.20. The trade was a 10.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,979,841 shares of company stock worth $303,130,605 over the last three months. Corporate insiders own 8.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DDOG. Jefferies Financial Group upped their target price on shares of Datadog from $190.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Royal Bank Of Canada raised their price objective on shares of Datadog from $182.00 to $216.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. KeyCorp upgraded shares of Datadog from a “sector weight” rating to an “overweight” rating and set a $230.00 price target for the company in a research note on Friday, November 7th. Scotiabank boosted their target price on Datadog from $150.00 to $217.00 and gave the company a “sector outperform” rating in a research note on Friday, November 7th. Finally, BTIG Research boosted their price target on shares of Datadog from $184.00 to $221.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Thirty-one investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.38.

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.