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

California Public Employees Retirement System boosted its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 20.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 488,258 shares of the company’s stock after purchasing an additional 82,985 shares during the period. California Public Employees Retirement System’s holdings in Datadog were worth $59,265,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA purchased a new stake in Datadog in the 3rd quarter worth approximately $189,668,000. Quintet Private Bank Europe S.A. bought a new stake in shares of Datadog during the 3rd quarter valued at $270,000. Mengis Capital Management Inc. purchased a new position in shares of Datadog in the 3rd quarter worth $409,000. Bank of New York Mellon Corp lifted its holdings in shares of Datadog by 2.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,378,534 shares of the company’s stock valued at $125,571,000 after acquiring an additional 33,748 shares during the last quarter. Finally, Cercano Management LLC boosted its holdings in shares of Datadog by 40.4% in the 3rd quarter. Cercano Management LLC now owns 309,560 shares of the company’s stock worth $28,198,000 after purchasing an additional 89,019 shares during the period. 78.29% of the stock is owned by institutional investors.

Datadog Stock Performance

DDOG opened at $125.25 on Friday. Datadog, Inc. has a 52-week low of $63.00 and a 52-week high of $138.61. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.37. The firm’s fifty day simple moving average is $125.21 and its two-hundred day simple moving average is $116.73. The company has a market cap of $41.57 billion, a price-to-earnings ratio of 1,043.75 and a beta of 1.15.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DDOG. Wells Fargo & Company raised Datadog from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $130.00 to $150.00 in a research note on Tuesday. Barclays increased 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. Mizuho boosted their target price on shares of Datadog from $108.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Royal Bank of Canada raised their price target on shares of Datadog from $145.00 to $151.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 14th. Finally, Wolfe Research lifted their price target on shares of Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, February 14th. Five investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $131.70.

Insiders Place Their Bets

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $135.10, for a total transaction of $17,171,885.50. Following the transaction, the chief technology officer now owns 247,328 shares of the company’s stock, valued at $33,414,012.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, President Amit Agarwal sold 33,311 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $128.58, for a total value of $4,283,128.38. Following the transaction, the president now directly owns 294,012 shares in the company, valued at $37,804,062.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $135.10, for a total value of $17,171,885.50. Following the sale, the chief technology officer now directly owns 247,328 shares of the company’s stock, valued at approximately $33,414,012.80. The disclosure for this sale can be found here. Insiders have sold 759,908 shares of company stock valued at $97,728,997 in the last ninety days. 14.97% of the stock is currently owned by corporate insiders.

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.