Kentucky Retirement Systems Insurance Trust Fund Invests $877,000 in Datadog, Inc. (NASDAQ:DDOG)

Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Datadog, Inc. (NASDAQ:DDOG - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 8,836 shares of the company's stock, valued at approximately $877,000.

Other large investors have also recently made changes to their positions in the company. Putney Financial Group LLC acquired a new stake in Datadog during the 4th quarter worth $32,000. Elequin Capital LP purchased a new stake in Datadog during the 4th quarter valued at about $34,000. Opal Wealth Advisors LLC acquired a new stake in Datadog in the 1st quarter valued at about $37,000. Center for Financial Planning Inc. lifted 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 grew its position in shares of Datadog by 74.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 381 shares of the company's stock valued at $38,000 after purchasing an additional 162 shares in the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on DDOG shares. Macquarie reduced their price objective on Datadog from $175.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. BTIG Research set a $136.00 price objective on shares of Datadog and gave the company a "buy" rating in a report on Tuesday, May 6th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $119.00 target price on shares of Datadog in a research note on Wednesday, May 7th. DA Davidson increased their price target on shares of Datadog from $115.00 to $125.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $134.00 price objective on shares of Datadog in a report on Wednesday, May 7th. Six investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $142.52.

Datadog Stock Down 0.4%

Shares of Datadog stock traded down $0.53 during trading on Wednesday, hitting $130.30. 2,975,416 shares of the stock were exchanged, compared to its average volume of 4,430,413. 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 firm's 50-day moving average price is $112.87 and its 200 day moving average price is $121.86. The stock has a market cap of $45.00 billion, a price-to-earnings ratio of 283.38, a price-to-earnings-growth ratio of 71.79 and a beta of 1.01. Datadog, Inc. has a 12-month low of $81.63 and a 12-month high of $170.08.

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

Insider Activity at Datadog

In other news, CEO Olivier Pomel sold 107,365 shares of Datadog stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $87.33, for a total transaction of $9,376,185.45. Following the sale, the chief executive officer now owns 563,598 shares in the company, valued at approximately $49,219,013.34. The trade was a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David M. Obstler sold 15,000 shares of the company's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $130.25, for a total value of $1,953,750.00. Following the completion of the sale, the chief financial officer now directly owns 399,270 shares of the company's stock, valued at approximately $52,004,917.50. This trade represents a 3.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 777,966 shares of company stock valued at $87,512,075 over the last three months. 8.70% of the stock is owned by corporate insiders.

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.