California Public Employees Retirement System Buys 82,985 Shares of Datadog, Inc. (NASDAQ:DDOG)

California Public Employees Retirement System raised its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 20.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 488,258 shares of the company's stock after purchasing an additional 82,985 shares during the quarter. California Public Employees Retirement System owned 0.15% of Datadog worth $59,265,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in DDOG. Anchor Investment Management LLC bought a new position in shares of Datadog in the fourth quarter valued at approximately $25,000. BluePath Capital Management LLC bought a new position in shares of Datadog in the third quarter valued at approximately $31,000. Private Trust Co. NA raised its stake in shares of Datadog by 743.3% in the fourth quarter. Private Trust Co. NA now owns 253 shares of the company's stock valued at $31,000 after acquiring an additional 223 shares during the last quarter. AM Squared Ltd bought a new position in Datadog in the 3rd quarter worth approximately $36,000. Finally, Headinvest LLC bought a new position in Datadog in the 3rd quarter worth approximately $46,000. 78.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Cantor Fitzgerald restated an "overweight" rating and issued a $150.00 price objective on shares of Datadog in a research report on Wednesday, April 17th. Stifel Nicolaus restated a "buy" rating and issued a $152.00 price objective on shares of Datadog in a research report on Monday. Truist Financial boosted their price objective on shares of Datadog from $140.00 to $155.00 and gave the stock a "buy" rating in a research report on Wednesday, February 14th. William Blair reiterated an "outperform" rating on shares of Datadog in a research report on Friday, February 16th. Finally, Barclays upped their target price on shares of Datadog from $138.00 to $152.00 and gave the company an "overweight" rating in a research report on Wednesday, February 14th. Five research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, Datadog presently has a consensus rating of "Moderate Buy" and a consensus target price of $131.70.

Datadog Stock Up 5.0 %

Shares of Datadog stock traded up $6.20 during trading hours on Friday, reaching $131.45. 5,116,010 shares of the company's stock were exchanged, compared to its average volume of 4,047,233. The company has a 50 day moving average of $125.25 and a two-hundred day moving average of $117.01. Datadog, Inc. has a fifty-two week low of $63.00 and a fifty-two week high of $138.61. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 0.37. The stock has a market cap of $43.62 billion, a P/E ratio of 1,095.42 and a beta of 1.15.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. Datadog had a net margin of 2.28% and a return on equity of 3.79%. The company 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 business posted ($0.08) EPS. The company's quarterly revenue was up 25.6% on a year-over-year basis. On average, sell-side analysts forecast that Datadog, Inc. will post -0.14 EPS for the current fiscal year.

Insider Activity

In other news, CEO Olivier Pomel sold 133,315 shares of the company's stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $129.82, for a total value of $17,306,953.30. Following the sale, the chief executive officer now directly owns 299,075 shares of the company's stock, valued at approximately $38,825,916.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Datadog news, CRO Sean Michael Walters sold 20,692 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $128.58, for a total value of $2,660,577.36. Following the transaction, the executive now directly owns 182,593 shares of the company's stock, valued at approximately $23,477,807.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Olivier Pomel sold 133,315 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $129.82, for a total transaction of $17,306,953.30. Following the completion of the transaction, the chief executive officer now directly owns 299,075 shares in the company, valued at $38,825,916.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 759,908 shares of company stock valued at $97,728,997. 14.97% of the stock is owned by company insiders.

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.