Datadog, Inc. (NASDAQ:DDOG) Stake Decreased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 5.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 118,264 shares of the company's stock after selling 7,141 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Datadog were worth $16,899,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Avior Wealth Management LLC boosted its holdings in shares of Datadog by 55.9% in the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock valued at $32,000 after buying an additional 81 shares during the period. Elequin Capital LP acquired a new stake in Datadog during the 4th quarter worth about $34,000. Coppell Advisory Solutions LLC lifted its position in Datadog by 178.8% in the 4th quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company's stock worth $40,000 after buying an additional 177 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Datadog during the 4th quarter valued at $43,000. Finally, Itau Unibanco Holding S.A. raised its stake in shares of Datadog by 417.7% in the 4th quarter. Itau Unibanco Holding S.A. now owns 321 shares of the company's stock valued at $46,000 after acquiring an additional 259 shares in the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on DDOG shares. JMP Securities restated a "market perform" rating on shares of Datadog in a research report on Friday, February 14th. DA Davidson increased their price objective on shares of Datadog from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Canaccord Genuity Group dropped their price target on shares of Datadog from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Rosenblatt Securities reduced their target price on Datadog from $160.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Finally, Barclays raised their price objective on Datadog from $125.00 to $128.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Seven equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $141.54.

Datadog Price Performance

NASDAQ DDOG traded down $0.72 on Friday, hitting $116.28. The stock had a trading volume of 2,992,786 shares, compared to its average volume of 4,393,289. The stock has a market cap of $40.16 billion, a price-to-earnings ratio of 227.61, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12. The business's fifty day moving average price is $103.30 and its 200 day moving average price is $124.89. Datadog, Inc. has a 52-week low of $81.63 and a 52-week high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.04. The company had revenue of $761.55 million during the quarter, compared to analysts' expectations of $741.73 million. Datadog had a return on equity of 8.28% and a net margin of 6.85%. Datadog's quarterly revenue was up 24.6% on a year-over-year basis. During the same period last year, the business earned $0.44 earnings per share. As a group, sell-side analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current year.

Insider Activity

In related news, Director Amit Agarwal sold 25,000 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $114.21, for a total transaction of $2,855,250.00. Following the transaction, the director now owns 82,324 shares of the company's stock, valued at $9,402,224.04. This trade represents a 23.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Olivier Pomel sold 107,365 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $109.56, for a total value of $11,762,909.40. Following the completion of the sale, the chief executive officer now directly owns 435,793 shares of the company's stock, valued at approximately $47,745,481.08. This trade represents a 19.77% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 584,867 shares of company stock valued at $60,517,652. 11.78% of the stock is currently owned by company insiders.

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.