Teacher Retirement System of Texas Increases Stake in Datadog, Inc. (NASDAQ:DDOG)

Teacher Retirement System of Texas grew its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 143.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,283 shares of the company's stock after purchasing an additional 32,000 shares during the quarter. Teacher Retirement System of Texas' holdings in Datadog were worth $5,385,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC boosted its stake in Datadog by 32.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 15,506 shares of the company's stock worth $2,216,000 after purchasing an additional 3,760 shares during the period. Proficio Capital Partners LLC bought a new position in Datadog in the 4th quarter worth approximately $14,884,000. Berkshire Capital Holdings Inc. boosted its stake in Datadog by 731,900.0% in the 4th quarter. Berkshire Capital Holdings Inc. now owns 73,200 shares of the company's stock worth $10,460,000 after purchasing an additional 73,190 shares during the period. OFI Invest Asset Management bought a new position in Datadog in the 4th quarter worth approximately $16,497,000. Finally, Clare Market Investments LLC bought a new position in Datadog in the 4th quarter worth approximately $691,000. Hedge funds and other institutional investors own 78.29% of the company's stock.

Datadog Stock Down 1.8%

NASDAQ DDOG traded down $2.74 during trading on Monday, hitting $152.41. The company's stock had a trading volume of 16,213,206 shares, compared to its average volume of 4,600,027. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.74 and a quick ratio of 2.74. The company has a market cap of $52.63 billion, a PE ratio of 331.33, a P/E/G ratio of 85.83 and a beta of 1.03. The business's 50 day simple moving average is $120.00 and its 200-day simple moving average is $120.71. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.04. The business had revenue of $761.55 million during the quarter, compared to the consensus estimate of $741.73 million. Datadog had a return on equity of 6.39% and a net margin of 5.85%. The company's quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the company earned $0.44 earnings per share. On average, equities analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Insider Activity

In related news, CRO Sean Michael Walters sold 9,468 shares of Datadog stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $125.00, for a total transaction of $1,183,500.00. Following the completion of the sale, the executive owned 221,793 shares of the company's stock, valued at $27,724,125. The trade was a 4.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Amit Agarwal sold 23,058 shares of Datadog stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $130.87, for a total value of $3,017,600.46. Following the sale, the director directly owned 31,298 shares of the company's stock, valued at $4,095,969.26. This trade represents a 42.42% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 794,413 shares of company stock valued at $94,440,927. 8.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

DDOG has been the subject of a number of research reports. Scotiabank set a $130.00 target price on Datadog and gave the company an "outperform" rating in a research report on Wednesday, May 7th. DA Davidson increased their target price on Datadog from $115.00 to $125.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Cantor Fitzgerald reiterated an "overweight" rating and set a $134.00 target price on shares of Datadog in a research report on Wednesday, May 7th. Canaccord Genuity Group lowered their target price on Datadog from $150.00 to $145.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Finally, Truist Financial lowered their target price on Datadog from $140.00 to $120.00 and set a "hold" rating for the company in a research report on Monday, March 31st. Six investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $143.90.

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.