State of Alaska Department of Revenue Boosts Holdings in Datadog, Inc. (NASDAQ:DDOG)

State of Alaska Department of Revenue boosted its position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 316.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,236 shares of the company's stock after acquiring an additional 5,500 shares during the period. State of Alaska Department of Revenue's holdings in Datadog were worth $717,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of DDOG. Brighton Jones LLC purchased a new stake in Datadog during the fourth quarter valued at approximately $209,000. Global Retirement Partners LLC raised its position in shares of Datadog by 73.6% in the 4th quarter. Global Retirement Partners LLC now owns 637 shares of the company's stock valued at $91,000 after purchasing an additional 270 shares during the last quarter. Amalgamated Bank raised its position in shares of Datadog by 1.5% in the 4th quarter. Amalgamated Bank now owns 20,223 shares of the company's stock valued at $2,890,000 after purchasing an additional 296 shares during the last quarter. Whipplewood Advisors LLC purchased a new position in shares of Datadog in the 4th quarter valued at approximately $269,000. Finally, NewEdge Wealth LLC raised its position in shares of Datadog by 18.9% in the 4th quarter. NewEdge Wealth LLC now owns 11,451 shares of the company's stock valued at $1,636,000 after purchasing an additional 1,821 shares during the last quarter. Hedge funds and other institutional investors own 78.29% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on DDOG shares. Jefferies Financial Group reaffirmed a "buy" rating on shares of Datadog in a research report on Tuesday, May 6th. Rosenblatt Securities decreased their price objective on shares of Datadog from $160.00 to $150.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Macquarie decreased their price objective on shares of Datadog from $175.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Canaccord Genuity Group decreased their price objective on shares of Datadog from $150.00 to $145.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Finally, Bank of America increased their price objective on shares of Datadog from $138.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Six investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $143.03.

Insider Activity at Datadog

In related news, CEO Olivier Pomel sold 107,365 shares of the business's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $87.33, for a total value of $9,376,185.45. Following the sale, the chief executive officer now directly owns 563,598 shares in the company, valued at approximately $49,219,013.34. The trade was a 16.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Kerry Acocella sold 5,099 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $116.84, for a total transaction of $595,767.16. Following the completion of the sale, the general counsel now owns 115,490 shares in the company, valued at approximately $13,493,851.60. This trade represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 901,778 shares of company stock worth $103,817,113. Company insiders own 8.70% of the company's stock.

Datadog Trading Up 0.7%

Shares of DDOG stock opened at $132.08 on Friday. The company's 50-day moving average price is $115.26 and its 200-day moving average price is $121.55. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.34. The stock has a market cap of $45.61 billion, a price-to-earnings ratio of 287.14, a PEG ratio of 72.53 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 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 firm had revenue of $761.55 million for 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%. The company's revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS. As a group, equities analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current 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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