California Public Employees Retirement System Decreases Stock Position in Datadog, Inc. (NASDAQ:DDOG)

California Public Employees Retirement System decreased its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 7.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 470,894 shares of the company’s stock after selling 38,373 shares during the period. California Public Employees Retirement System owned approximately 0.14% of Datadog worth $67,286,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. True Wealth Design LLC grew its holdings in Datadog by 12,000.0% during the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after purchasing an additional 240 shares during the last quarter. Retirement Wealth Solutions LLC bought a new position in shares of Datadog during the fourth quarter valued at approximately $30,000. Avior Wealth Management LLC raised its holdings in shares of Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after buying an additional 81 shares during the period. Quarry LP bought a new stake in shares of Datadog during the 3rd quarter worth approximately $33,000. Finally, Kieckhefer Group LLC purchased a new position in Datadog during the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Royal Bank of Canada increased their target price on Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $143.00 price target on shares of Datadog in a research note on Thursday, January 16th. Truist Financial dropped their target price on shares of Datadog from $140.00 to $120.00 and set a “hold” rating on the stock in a research note on Monday. Barclays decreased their price target on shares of Datadog from $187.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Finally, Mizuho increased their price objective on Datadog from $155.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. One investment 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 issued a strong buy rating to the stock. According to MarketBeat, Datadog has a consensus rating of “Moderate Buy” and a consensus target price of $157.22.

Insider Buying and Selling at Datadog

In related news, Director Shardul Shah sold 7,916 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $142.12, for a total value of $1,125,021.92. Following the sale, the director now owns 427,785 shares in the company, valued at $60,796,804.20. This represents a 1.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Olivier Pomel sold 11,195 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $139.86, for a total transaction of $1,565,732.70. Following the transaction, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at $53,103,862.98. This represents a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 601,412 shares of company stock worth $75,444,584. 11.78% of the stock is currently owned by insiders.

Datadog Stock Up 1.9 %

DDOG stock opened at $101.06 on Wednesday. The stock has a market capitalization of $34.64 billion, a PE ratio of 198.16, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22. Datadog, Inc. has a 52 week low of $96.63 and a 52 week high of $170.08. The firm has a 50 day moving average of $122.26 and a 200 day moving average of $130.82.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.13 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%. On average, equities research analysts expect that Datadog, Inc. will post 0.34 earnings per share 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.