Louisiana State Employees Retirement System Purchases New Holdings in Datadog, Inc. (NASDAQ:DDOG)

Louisiana State Employees Retirement System acquired a new position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 24,000 shares of the company's stock, valued at approximately $2,913,000.

Several other hedge funds have also recently bought and sold shares of the business. Ingalls & Snyder LLC bought a new stake in shares of Datadog in the fourth quarter worth $211,000. NewEdge Wealth LLC boosted its holdings in shares of Datadog by 10.6% during the fourth quarter. NewEdge Wealth LLC now owns 4,118 shares of the company's stock valued at $500,000 after acquiring an additional 395 shares during the period. Friedenthal Financial acquired a new stake in Datadog in the fourth quarter worth about $767,000. Cerity Partners LLC lifted its holdings in Datadog by 80.0% in the fourth quarter. Cerity Partners LLC now owns 30,062 shares of the company's stock worth $3,649,000 after purchasing an additional 13,361 shares during the period. Finally, Sandy Spring Bank lifted its holdings in Datadog by 24.8% in the 4th quarter. Sandy Spring Bank now owns 5,235 shares of the company's stock valued at $635,000 after acquiring an additional 1,040 shares during the last quarter. Hedge funds and other institutional investors own 78.29% of the company's stock.

Insiders Place Their Bets

In other news, CFO David M. Obstler sold 70,000 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $120.73, for a total value of $8,451,100.00. Following the completion of the sale, the chief financial officer now owns 275,191 shares of the company's stock, valued at $33,223,809.43. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Datadog news, CFO David M. Obstler sold 70,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $120.73, for a total value of $8,451,100.00. Following the transaction, the chief financial officer now owns 275,191 shares in the company, valued at $33,223,809.43. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CRO Sean Michael Walters sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $129.86, for a total value of $1,298,600.00. Following the completion of the transaction, the executive now owns 162,706 shares in the company, valued at approximately $21,129,001.16. The disclosure for this sale can be found here. Insiders sold a total of 755,990 shares of company stock valued at $97,168,431 in the last 90 days. Corporate insiders own 14.97% of the company's stock.

Datadog Stock Performance

Shares of NASDAQ DDOG traded up $1.13 during midday trading on Tuesday, hitting $126.95. 3,016,360 shares of the company's stock were exchanged, compared to its average volume of 4,091,808. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.37. Datadog, Inc. has a 12 month low of $62.60 and a 12 month high of $138.61. The company's 50 day moving average price is $126.50 and its 200 day moving average price is $115.18. The firm has a market capitalization of $42.13 billion, a PE ratio of 1,053.08 and a beta of 1.16.

Datadog (NASDAQ:DDOG - Get Free Report) last released its earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.01. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The firm had revenue of $589.65 million during the quarter, compared to the consensus estimate of $568.73 million. During the same period in the prior year, the company posted ($0.08) EPS. The company's revenue was up 25.6% compared to the same quarter last year. As a group, analysts predict that Datadog, Inc. will post -0.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on DDOG shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $145.00 target price (up previously from $115.00) on shares of Datadog in a report on Monday, February 12th. Wolfe Research increased their price objective on Datadog from $140.00 to $150.00 and gave the company an "outperform" rating in a research report on Wednesday, February 14th. Citigroup increased their price objective on Datadog from $125.00 to $150.00 and gave the company a "buy" rating in a research report on Monday, January 22nd. Truist Financial upped their target price on Datadog from $140.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday, February 14th. Finally, Royal Bank of Canada upped their target price on Datadog from $145.00 to $151.00 and gave the company an "outperform" rating in a research note on Wednesday, February 14th. Six analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $130.33.

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.