Teacher Retirement System of Texas Grows Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Teacher Retirement System of Texas grew its holdings in Datadog, Inc. (NASDAQ:DDOG) by 400.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,283 shares of the company’s stock after acquiring an additional 17,829 shares during the period. Teacher Retirement System of Texas’ holdings in Datadog were worth $3,184,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in DDOG. Allworth Financial LP raised its position in Datadog by 7.7% in the fourth quarter. Allworth Financial LP now owns 1,043 shares of the company’s stock valued at $146,000 after purchasing an additional 75 shares during the period. Spire Wealth Management raised its holdings in shares of Datadog by 21.4% during the 4th quarter. Spire Wealth Management now owns 453 shares of the company’s stock valued at $65,000 after buying an additional 80 shares during the period. Avior Wealth Management LLC lifted its position in Datadog by 55.9% during the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after acquiring an additional 81 shares in the last quarter. Pathstone Holdings LLC boosted its holdings in Datadog by 0.4% in the 3rd quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock worth $2,664,000 after acquiring an additional 91 shares during the period. Finally, Farther Finance Advisors LLC grew its position in Datadog by 5.2% in the fourth quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company’s stock valued at $265,000 after acquiring an additional 92 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Analyst Upgrades and Downgrades

DDOG has been the topic of a number of recent research reports. Truist Financial reduced their target price on shares of Datadog from $150.00 to $140.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. Macquarie reissued an “outperform” rating and issued a $200.00 price objective on shares of Datadog in a research report on Tuesday, February 11th. Loop Capital lifted their target price on Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Guggenheim reissued a “neutral” rating on shares of Datadog in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company downgraded Datadog from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $152.00 to $140.00 in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $158.70.

Insider Buying and Selling at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $102.15, for a total transaction of $12,983,775.75. Following the sale, the chief technology officer now directly owns 371,865 shares of the company’s stock, valued at $37,986,009.75. The trade was a 25.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Amit Agarwal sold 25,000 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $141.12, for a total value of $3,528,000.00. Following the completion of the transaction, the director now owns 195,667 shares of the company’s stock, valued at $27,612,527.04. This trade represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 626,412 shares of company stock valued at $79,144,334. Corporate insiders own 11.78% of the company’s stock.

Datadog Stock Up 0.4 %

NASDAQ:DDOG opened at $110.58 on Wednesday. The business’s 50-day moving average price is $125.84 and its 200 day moving average price is $131.03. Datadog, Inc. has a 52-week low of $98.30 and a 52-week high of $170.08. The firm has a market cap of $37.90 billion, a P/E ratio of 216.83, a PEG ratio of 44.03 and a beta of 1.22.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share (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 expect that Datadog, Inc. will post 0.34 EPS for the current year.

About Datadog

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.