California State Teachers Retirement System Has $60.13 Million Stake in Datadog, Inc. (NASDAQ:DDOG)

California State Teachers Retirement System cut its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 2.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 420,811 shares of the company's stock after selling 9,665 shares during the quarter. California State Teachers Retirement System owned approximately 0.12% of Datadog worth $60,130,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Proficio Capital Partners LLC acquired a new position in Datadog during the fourth quarter valued at approximately $14,884,000. ARK Investment Management LLC raised its stake in shares of Datadog by 62.7% during the 4th quarter. ARK Investment Management LLC now owns 127,290 shares of the company's stock worth $18,188,000 after purchasing an additional 49,050 shares in the last quarter. Y Intercept Hong Kong Ltd raised its stake in shares of Datadog by 140.1% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company's stock worth $7,590,000 after purchasing an additional 30,998 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in shares of Datadog by 15.8% in the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company's stock valued at $1,558,234,000 after buying an additional 1,484,562 shares during the last quarter. Finally, Cullen Frost Bankers Inc. grew its stake in shares of Datadog by 3.5% in the fourth quarter. Cullen Frost Bankers Inc. now owns 72,489 shares of the company's stock valued at $10,358,000 after buying an additional 2,451 shares in the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Datadog

In related news, CRO Sean Michael Walters sold 8,454 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total value of $862,646.16. Following the sale, the executive now directly owns 185,871 shares of the company's stock, valued at $18,966,276.84. This trade represents a 4.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Olivier Pomel sold 107,365 shares of Datadog stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $109.56, for a total value of $11,762,909.40. Following the completion of the transaction, the chief executive officer now owns 435,793 shares in the company, valued at approximately $47,745,481.08. This represents a 19.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 609,867 shares of company stock worth $63,443,152 over the last three months. Corporate insiders own 11.78% of the company's stock.

Datadog Price Performance

DDOG stock traded down $0.07 during midday trading on Friday, reaching $116.93. The company had a trading volume of 7,309,763 shares, compared to its average volume of 4,385,911. Datadog, Inc. has a 1-year low of $81.63 and a 1-year high of $170.08. The stock has a 50 day moving average price of $103.42 and a 200-day moving average price of $124.78. The company has a market capitalization of $40.38 billion, a price-to-earnings ratio of 229.28, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.42 by $0.04. The company had revenue of $761.55 million during the quarter, compared to analysts' expectations of $741.73 million. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The business's revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 EPS. As a group, research analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $119.00 price target on shares of Datadog in a research note on Wednesday, May 7th. Rosenblatt Securities reduced their price target on Datadog from $160.00 to $150.00 and set a "buy" rating for the company in a report on Monday, May 5th. Needham & Company LLC dropped their price objective on Datadog from $160.00 to $130.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Wells Fargo & Company cut their price objective on Datadog from $140.00 to $115.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Finally, UBS Group boosted their target price on Datadog from $120.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Seven investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $141.04.

Datadog 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.