New York State Common Retirement Fund Sells 5,723 Shares of Datadog, Inc. (NASDAQ:DDOG)

New York State Common Retirement Fund cut its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 1.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 512,728 shares of the company’s stock after selling 5,723 shares during the quarter. New York State Common Retirement Fund owned about 0.15% of Datadog worth $73,264,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Los Angeles Capital Management LLC boosted its position in shares of Datadog by 172.2% during the third quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock valued at $4,469,000 after purchasing an additional 24,574 shares in the last quarter. Heritage Investors Management Corp bought a new stake in Datadog in the third quarter worth $1,157,000. Atom Investors LP bought a new stake in Datadog in the third quarter worth $1,112,000. Parnassus Investments LLC boosted its holdings in Datadog by 28.4% in the third quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock worth $21,324,000 after acquiring an additional 40,952 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in Datadog by 2.1% in the third quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock worth $721,811,000 after acquiring an additional 126,613 shares in the last quarter. 78.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on DDOG shares. Stifel Nicolaus downgraded Datadog from a “buy” rating to a “hold” rating and dropped their target price for the stock from $165.00 to $140.00 in a report on Wednesday, January 29th. DA Davidson boosted their target price on Datadog from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Robert W. Baird boosted their target price on Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Guggenheim reissued a “neutral” rating on shares of Datadog in a report on Wednesday, January 22nd. Finally, Cantor Fitzgerald assumed coverage on Datadog in a report on Friday, January 17th. They issued an “overweight” rating and a $180.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Datadog has an average rating of “Moderate Buy” and a consensus price target of $158.39.

Datadog Stock Down 1.4 %

Shares of DDOG opened at $128.85 on Thursday. The business has a 50-day simple moving average of $143.45 and a two-hundred day simple moving average of $131.51. The stock has a market cap of $43.77 billion, a price-to-earnings ratio of 252.65, a PEG ratio of 15.23 and a beta of 1.15. Datadog, Inc. has a 52 week low of $98.80 and a 52 week high of $170.08.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. On average, equities analysts anticipate that Datadog, Inc. will post 0.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Olivier Pomel sold 178,723 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $161.28, for a total value of $28,824,445.44. Following the completion of the transaction, the chief executive officer now owns 379,693 shares of the company’s stock, valued at $61,236,887.04. This represents a 32.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total value of $17,948,497.05. Following the completion of the transaction, the chief technology officer now directly owns 324,778 shares of the company’s stock, valued at approximately $45,861,901.38. This trade represents a 28.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 556,674 shares of company stock worth $82,904,025 over the last quarter. 11.78% of the stock is currently owned by corporate 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.