Kentucky Retirement Systems Buys New Stake in Datadog, Inc. (NASDAQ:DDOG)

Kentucky Retirement Systems bought a new position in Datadog, Inc. (NASDAQ:DDOG - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm bought 20,746 shares of the company's stock, valued at approximately $2,058,000.

Several other large investors also recently bought and sold shares of DDOG. Vanguard Group Inc. lifted its stake in shares of Datadog by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company's stock worth $4,337,316,000 after buying an additional 220,527 shares during the period. Groupama Asset Managment lifted its position in Datadog by 407.6% during the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock worth $943,074,000 after acquiring an additional 5,299,688 shares during the period. Geode Capital Management LLC grew its stake in Datadog by 9.6% during the 4th quarter. Geode Capital Management LLC now owns 5,684,612 shares of the company's stock valued at $811,076,000 after purchasing an additional 499,055 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Datadog by 16.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,476,279 shares of the company's stock valued at $639,616,000 after purchasing an additional 625,429 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Datadog by 25.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,319,132 shares of the company's stock valued at $617,161,000 after purchasing an additional 870,217 shares during the period. Hedge funds and other institutional investors own 78.29% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on DDOG. UBS Group upped their target price on Datadog from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Bank of America lifted their price objective on shares of Datadog from $138.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th. Needham & Company LLC set a $140.00 price objective on shares of Datadog and gave the stock a "buy" rating in a research note on Thursday, June 12th. Wolfe Research raised shares of Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 target price for the company in a report on Thursday, June 12th. Finally, Wedbush restated an "outperform" rating and set a $140.00 target price on shares of Datadog in a research report on Wednesday, June 11th. Six analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $142.52.

Insider Activity

In other news, Director Shardul Shah sold 23,748 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $120.00, for a total value of $2,849,760.00. Following the completion of the sale, the director now owns 396,121 shares of the company's stock, valued at $47,534,520. This represents a 5.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CRO Sean Michael Walters sold 11,167 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $116.84, for a total value of $1,304,752.28. Following the sale, the executive now directly owns 235,431 shares of the company's stock, valued at approximately $27,507,758.04. This trade represents a 4.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 777,966 shares of company stock worth $87,512,075 over the last ninety days. Corporate insiders own 8.70% of the company's stock.

Datadog Price Performance

NASDAQ DDOG traded down $0.53 during mid-day trading on Wednesday, hitting $130.30. The stock had a trading volume of 2,975,416 shares, compared to its average volume of 4,430,413. The firm's 50 day moving average is $112.87 and its 200 day moving average is $121.86. 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 stock has a market capitalization of $45.00 billion, a price-to-earnings ratio of 283.38, a PEG ratio of 71.79 and a beta of 1.01. Datadog, Inc. has a twelve month low of $81.63 and a twelve month high of $170.08.

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 analysts' consensus estimates of $0.42 by $0.04. The business had revenue of $761.55 million during the quarter, compared to analysts' expectations of $741.73 million. Datadog had a net margin of 5.85% and a return on equity of 6.39%. During the same period in the prior year, the business earned $0.44 earnings per share. The company's quarterly revenue was up 24.6% compared to the same quarter last year. Equities research analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

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.