Umpqua Bank Grows Stake in Datadog, Inc. (NASDAQ:DDOG)

Umpqua Bank grew its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 4.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,014 shares of the company’s stock after purchasing an additional 415 shares during the period. Umpqua Bank’s holdings in Datadog were worth $1,299,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. SVB Wealth LLC raised its stake in Datadog by 226.6% in the second quarter. SVB Wealth LLC now owns 95,316 shares of the company’s stock valued at $12,362,000 after buying an additional 66,131 shares during the last quarter. EFG Asset Management Americas Corp. increased its holdings in shares of Datadog by 94.3% during the second quarter. EFG Asset Management Americas Corp. now owns 26,058 shares of the company’s stock valued at $3,379,000 after acquiring an additional 12,650 shares in the last quarter. Cullen Frost Bankers Inc. raised its position in shares of Datadog by 66,622.1% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 57,381 shares of the company’s stock valued at $7,442,000 after purchasing an additional 57,295 shares during the last quarter. North Star Asset Management Inc. raised its position in shares of Datadog by 4.5% in the 2nd quarter. North Star Asset Management Inc. now owns 67,480 shares of the company’s stock valued at $8,751,000 after purchasing an additional 2,875 shares during the last quarter. Finally, Private Advisor Group LLC boosted its stake in Datadog by 0.7% in the 2nd quarter. Private Advisor Group LLC now owns 28,874 shares of the company’s stock worth $3,745,000 after purchasing an additional 187 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Price Performance

Shares of DDOG stock opened at $107.20 on Friday. The stock has a 50 day simple moving average of $118.42 and a 200-day simple moving average of $120.87. Datadog, Inc. has a 1-year low of $77.81 and a 1-year high of $138.61. The company has a market cap of $35.86 billion, a price-to-earnings ratio of 335.00, a PEG ratio of 29.66 and a beta of 1.11.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on DDOG shares. Wedbush restated an “outperform” rating and set a $155.00 price target on shares of Datadog in a research note on Friday, August 9th. UBS Group upped their target price on Datadog from $120.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. BTIG Research raised Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price target for the company in a research report on Thursday, August 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $151.00 price target on shares of Datadog in a research note on Friday, August 9th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $150.00 price objective on shares of Datadog in a research note on Monday, July 22nd. Four 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $139.88.

Insider Buying and Selling

In related news, CEO Olivier Pomel sold 200,993 shares of the business’s stock in a transaction that occurred on 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 directly owns 324,539 shares in the company, valued at $42,517,854.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Datadog news, Director Titilope Cole sold 2,210 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $112.34, for a total value of $248,271.40. Following the transaction, the director now directly owns 6,451 shares of the company’s stock, valued at approximately $724,705.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Olivier Pomel sold 200,993 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was 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 in the company, valued at $42,517,854.39. The disclosure for this sale can be found here. In the last three months, insiders have sold 576,500 shares of company stock worth $70,322,713. Insiders own 11.78% of the company’s stock.

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.