New York State Common Retirement Fund Buys 7,627 Shares of Datadog, Inc. (NASDAQ:DDOG)

New York State Common Retirement Fund boosted its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 1.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 520,355 shares of the company's stock after purchasing an additional 7,627 shares during the quarter. New York State Common Retirement Fund owned about 0.15% of Datadog worth $51,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Cornerstone Planning Group LLC raised its stake in shares of Datadog by 96.9% in the first quarter. Cornerstone Planning Group LLC now owns 313 shares of the company's stock worth $30,000 after purchasing an additional 154 shares during the last quarter. Putney Financial Group LLC purchased a new position in shares of Datadog in the fourth quarter worth about $32,000. Elequin Capital LP purchased a new position in shares of Datadog in the fourth quarter worth about $34,000. Opal Wealth Advisors LLC purchased a new position in shares of Datadog in the first quarter worth about $37,000. Finally, Center for Financial Planning Inc. raised its stake in shares of Datadog by 1,189.7% in the first quarter. Center for Financial Planning Inc. now owns 374 shares of the company's stock worth $37,000 after purchasing an additional 345 shares during the last quarter. Institutional investors own 78.29% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on DDOG shares. Scotiabank set a $130.00 price target on Datadog and gave the company an "outperform" rating in a research report 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 research report on Monday, May 5th. Morgan Stanley lifted their price target on Datadog from $115.00 to $165.00 and gave the company an "equal weight" rating in a research report on Thursday. Wedbush reiterated an "outperform" rating and set a $140.00 price target on shares of Datadog in a research report on Wednesday, June 11th. Finally, Wells Fargo & Company reduced their price target 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, Datadog presently has an average rating of "Moderate Buy" and a consensus target price of $144.27.

Insider Transactions at Datadog

In other Datadog news, Director Amit Agarwal sold 23,058 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $130.87, for a total transaction of $3,017,600.46. Following the completion of the sale, the director directly owned 31,298 shares of the company's stock, valued at $4,095,969.26. This represents a 42.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Sean Michael Walters sold 9,469 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $150.00, for a total value of $1,420,350.00. Following the sale, the executive directly owned 212,324 shares of the company's stock, valued at approximately $31,848,600. This represents a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 866,806 shares of company stock worth $104,910,027. Insiders own 8.70% of the company's stock.

Datadog Price Performance

Shares of NASDAQ DDOG opened at $137.37 on Monday. The stock's 50-day moving average is $123.97 and its two-hundred day moving average is $120.53. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.74 and a quick ratio of 2.74. Datadog, Inc. has a 1-year low of $81.63 and a 1-year high of $170.08. The company has a market cap of $47.44 billion, a price-to-earnings ratio of 298.64, a price-to-earnings-growth ratio of 75.99 and a beta of 1.03.

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

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.

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