New York State Common Retirement Fund Decreases Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

New York State Common Retirement Fund decreased its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 5.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 830,213 shares of the company’s stock after selling 43,748 shares during the period. New York State Common Retirement Fund’s holdings in Datadog were worth $100,771,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DDOG. Anchor Investment Management LLC purchased a new position in Datadog in the 4th quarter valued at $25,000. BluePath Capital Management LLC purchased a new position in Datadog in the 3rd quarter valued at $31,000. Private Trust Co. NA lifted its holdings in Datadog by 743.3% in the 4th quarter. Private Trust Co. NA now owns 253 shares of the company’s stock valued at $31,000 after purchasing an additional 223 shares in the last quarter. AM Squared Ltd purchased a new position in Datadog in the 3rd quarter valued at $36,000. Finally, Headinvest LLC purchased a new position in Datadog in the 3rd quarter valued at $46,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Insiders Place Their Bets

In other news, CRO Sean Michael Walters sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $129.86, for a total value of $1,298,600.00. Following the transaction, the executive now owns 162,706 shares of the company’s stock, valued at $21,129,001.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO David M. Obstler sold 70,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $120.73, for a total value of $8,451,100.00. Following the transaction, the chief financial officer now owns 275,191 shares of the company’s stock, valued at $33,223,809.43. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Sean Michael Walters sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $129.86, for a total value of $1,298,600.00. Following the completion of the transaction, the executive now directly owns 162,706 shares in the company, valued at approximately $21,129,001.16. The disclosure for this sale can be found here. Insiders have sold a total of 745,984 shares of company stock valued at $95,917,681 over the last quarter. Company insiders own 14.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Needham & Company LLC raised their price objective on Datadog from $125.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $155.00 target price (up from $140.00) on shares of Datadog in a research note on Wednesday, February 14th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $150.00 target price on shares of Datadog in a research note on Friday, February 23rd. Robert W. Baird raised their target price on Datadog from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Finally, Barclays raised their target price on Datadog from $138.00 to $152.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. Five investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $131.70.

Datadog Stock Up 3.8 %

DDOG stock traded up $4.65 during trading on Tuesday, hitting $126.72. 1,966,807 shares of the company’s stock were exchanged, compared to its average volume of 4,015,966. The business has a 50-day moving average price of $125.63 and a two-hundred day moving average price of $116.37. The stock has a market capitalization of $42.05 billion, a price-to-earnings ratio of 1,017.25 and a beta of 1.16. Datadog, Inc. has a 52-week low of $62.60 and a 52-week high of $138.61. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 0.37.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. The company had revenue of $589.65 million for the quarter, compared to analyst estimates of $568.73 million. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The firm’s revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.08) earnings per share. As a group, equities research analysts expect that Datadog, Inc. will post -0.14 EPS for the current year.

Datadog Company 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.