M&T Bank Corp Trims Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

M&T Bank Corp lowered its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 5.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,117 shares of the company’s stock after selling 625 shares during the quarter. M&T Bank Corp’s holdings in Datadog were worth $1,164,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. SouthState Corp purchased a new stake in shares of Datadog during the second quarter valued at $26,000. True Wealth Design LLC boosted its position in Datadog by 12,000.0% in the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after buying an additional 240 shares during the period. Meeder Asset Management Inc. grew its stake in Datadog by 66.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after acquiring an additional 115 shares in the last quarter. Quarry LP bought a new position in Datadog in the 3rd quarter worth about $33,000. Finally, Blue Trust Inc. purchased a new position in shares of Datadog during the second quarter worth approximately $37,000. Institutional investors own 78.29% of the company’s stock.

Datadog Trading Down 2.4 %

NASDAQ:DDOG opened at $153.03 on Monday. The company’s 50 day moving average is $136.72 and its two-hundred day moving average is $123.90. The company has a market cap of $51.99 billion, a PE ratio of 288.74, a P/E/G ratio of 20.27 and a beta of 1.11. Datadog, Inc. has a twelve month low of $98.80 and a twelve month high of $170.08.

Insider Activity

In other Datadog news, CEO Olivier Pomel sold 178,723 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the completion of the transaction, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at approximately $61,236,887.04. This trade represents a 32.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CRO Sean Michael Walters sold 2,322 shares of Datadog stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $125.00, for a total transaction of $290,250.00. Following the sale, the executive now owns 183,512 shares of the company’s stock, valued at approximately $22,939,000. The trade was a 1.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 713,446 shares of company stock valued at $97,145,034 over the last ninety days. 11.78% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DDOG. Sanford C. Bernstein dropped their price objective on Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. BNP Paribas started coverage on Datadog in a research note on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price target on the stock. Rosenblatt Securities lifted their price objective on Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a report on Friday, November 8th. Truist Financial increased their target price on shares of Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Barclays boosted their price target on shares of Datadog from $155.00 to $187.00 and gave the company an “overweight” rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Datadog has a consensus rating of “Moderate Buy” and an average price target of $155.07.

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.