Maryland State Retirement & Pension System cut its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 12.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,973 shares of the company's stock after selling 1,988 shares during the quarter. Maryland State Retirement & Pension System's holdings in Datadog were worth $1,386,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in DDOG. Brighton Jones LLC purchased a new position in shares of Datadog during the fourth quarter worth approximately $209,000. FIL Ltd purchased a new position in shares of Datadog during the fourth quarter worth approximately $3,176,000. Bessemer Group Inc. raised its stake in shares of Datadog by 19.5% during the fourth quarter. Bessemer Group Inc. now owns 5,145 shares of the company's stock worth $735,000 after acquiring an additional 839 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in shares of Datadog by 0.5% during the fourth quarter. Treasurer of the State of North Carolina now owns 134,978 shares of the company's stock worth $19,287,000 after acquiring an additional 650 shares in the last quarter. Finally, Sterling Capital Management LLC raised its stake in shares of Datadog by 3.5% during the fourth quarter. Sterling Capital Management LLC now owns 45,673 shares of the company's stock worth $6,526,000 after acquiring an additional 1,548 shares in the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, CFO David M. Obstler sold 35,016 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $117.40, for a total transaction of $4,110,878.40. Following the completion of the transaction, the chief financial officer directly owned 399,270 shares in the company, valued at approximately $46,874,298. The trade was a 8.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Olivier Pomel sold 107,365 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $121.71, for a total value of $13,067,394.15. Following the transaction, the chief executive officer owned 548,715 shares of the company's stock, valued at approximately $66,784,102.65. This trade represents a 16.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 835,918 shares of company stock valued at $106,308,669. Insiders own 8.70% of the company's stock.
Datadog Stock Performance
Shares of Datadog stock traded down $2.11 during trading hours on Monday, reaching $128.81. 8,532,453 shares of the stock traded hands, compared to its average volume of 5,672,621. The company has a 50 day moving average price of $135.40 and a 200 day moving average price of $120.54. The firm has a market capitalization of $44.48 billion, a price-to-earnings ratio of 368.02, a P/E/G ratio of 69.33 and a beta of 1.02. The company has a quick ratio of 2.74, a current ratio of 3.43 and a debt-to-equity ratio of 0.31. Datadog, Inc. has a one year low of $81.63 and a one year high of $170.08.
Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.05. The company had revenue of $826.76 million during the quarter, compared to the consensus estimate of $791.72 million. Datadog had a return on equity of 5.04% and a net margin of 4.13%. The firm's revenue was up 28.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.43 EPS. On average, equities research analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
DDOG has been the topic of several recent analyst reports. Macquarie cut their target price on shares of Datadog from $175.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Guggenheim reiterated a "sell" rating and issued a $105.00 price target on shares of Datadog in a report on Tuesday, July 8th. Wedbush reiterated an "outperform" rating and issued a $140.00 price target on shares of Datadog in a report on Wednesday, June 11th. Mizuho lifted their price target on shares of Datadog from $145.00 to $155.00 and gave the company an "outperform" rating in a report on Friday. Finally, Rosenblatt Securities cut their price target on shares of Datadog from $160.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $151.72.
View Our Latest Analysis on DDOG
About Datadog
(
Free Report)
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.
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