Board of the Pension Protection Fund Purchases New Position in Datadog, Inc. (NASDAQ:DDOG)

Board of the Pension Protection Fund purchased a new position in Datadog, Inc. (NASDAQ:DDOG - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 3,500 shares of the company's stock, valued at approximately $347,000.

A number of other institutional investors have also recently bought and sold shares of DDOG. Putney Financial Group LLC purchased a new position in Datadog in the 4th quarter worth about $32,000. Elequin Capital LP purchased a new position in Datadog in the 4th quarter worth about $34,000. Opal Wealth Advisors LLC purchased a new position in Datadog in the 1st quarter worth about $37,000. Center for Financial Planning Inc. increased its stake in Datadog by 1,189.7% in the 1st quarter. Center for Financial Planning Inc. now owns 374 shares of the company's stock worth $37,000 after purchasing an additional 345 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in Datadog by 74.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 381 shares of the company's stock worth $38,000 after purchasing an additional 162 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company's stock.

Datadog Stock Performance

Shares of DDOG traded up $2.25 on Monday, reaching $134.33. 3,614,467 shares of the stock traded hands, compared to its average volume of 4,423,069. The firm has a market cap of $46.39 billion, a price-to-earnings ratio of 292.03, a P/E/G ratio of 73.07 and a beta of 1.01. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.74 and a quick ratio of 2.74. Datadog, Inc. has a 12 month low of $81.63 and a 12 month high of $170.08. The stock's 50-day moving average price is $116.17 and its 200-day moving average price is $120.93.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.04. The business had revenue of $761.55 million for the quarter, compared to analysts' expectations of $741.73 million. Datadog had a return on equity of 6.39% and a net margin of 5.85%. Datadog's quarterly revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 earnings per share. Equities analysts forecast that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on DDOG shares. Needham & Company LLC set a $140.00 price target on Datadog and gave the stock a "buy" rating in a research note on Thursday, June 12th. DA Davidson raised their price objective on Datadog from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Bank of America raised their price objective on Datadog from $138.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. Macquarie decreased their price objective on Datadog from $175.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Finally, UBS Group raised their price objective on Datadog from $125.00 to $140.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. Six investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $143.03.

Insider Buying and Selling at Datadog

In other news, Director Shardul Shah sold 7,916 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $120.86, for a total transaction of $956,727.76. Following the sale, the director directly owned 388,205 shares in the company, valued at approximately $46,918,456.30. The trade was a 2.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Amit Agarwal sold 23,058 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $130.87, for a total value of $3,017,600.46. Following the sale, the director owned 31,298 shares in the company, valued at approximately $4,095,969.26. This represents a 42.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 901,778 shares of company stock valued at $103,817,113 in the last quarter. 8.70% of the stock is currently owned by corporate insiders.

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.