Public Employees Retirement Association of Colorado increased its position in Datadog, Inc. (NASDAQ:DDOG) by 23.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,176 shares of the company’s stock after buying an additional 3,684 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Datadog were worth $1,959,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Freestone Capital Holdings LLC acquired a new position in shares of Datadog in the third quarter valued at approximately $26,000. Glassman Wealth Services raised its position in shares of Datadog by 74.5% in the second quarter. Glassman Wealth Services now owns 349 shares of the company’s stock valued at $30,000 after buying an additional 149 shares during the last quarter. Nisa Investment Advisors LLC acquired a new position in shares of Datadog in the third quarter valued at approximately $41,000. Captrust Financial Advisors purchased a new stake in Datadog in the second quarter valued at approximately $36,000. Finally, US Bancorp DE purchased a new stake in Datadog in the second quarter valued at approximately $38,000. 41.21% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Datadog from $80.00 to $86.00 and gave the company an “equal weight” rating in a report on Wednesday, November 11th. Loop Capital boosted their target price on shares of Datadog from $110.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, October 20th. Zacks Investment Research downgraded shares of Datadog from a “hold” rating to a “sell” rating in a research note on Wednesday, November 11th. Robert W. Baird began coverage on shares of Datadog in a research note on Thursday, September 24th. They set a “neutral” rating and a $92.00 price objective for the company. Finally, Needham & Company LLC boosted their price objective on shares of Datadog from $106.00 to $109.00 and gave the stock a “buy” rating in a research note on Wednesday, November 11th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $96.00.
Datadog (NASDAQ:DDOG) last posted its earnings results on Tuesday, November 10th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. Datadog had a negative net margin of 1.39% and a positive return on equity of 0.38%. The business had revenue of $154.70 million for the quarter, compared to analysts’ expectations of $144.33 million. Datadog’s revenue was up 61.1% on a year-over-year basis. On average, research analysts expect that Datadog, Inc. will post -0.02 EPS for the current fiscal year.
In related news, CEO Olivier Pomel sold 165,596 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $85.41, for a total value of $14,143,554.36. Following the sale, the chief executive officer now directly owns 329,217 shares of the company’s stock, valued at $28,118,423.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David M. Obstler sold 35,000 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $87.14, for a total transaction of $3,049,900.00. Following the completion of the sale, the chief financial officer now directly owns 247,585 shares in the company, valued at $21,574,556.90. The disclosure for this sale can be found here. Insiders sold 1,302,451 shares of company stock worth $131,236,327 over the last ninety days. 26.06% of the stock is currently owned by corporate insiders.
Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. The company's SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, and log management to provide real-time observability of customers technology stack.
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