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

California Public Employees Retirement System boosted its holdings in Datadog, Inc. (NASDAQ:DDOG) by 20.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. 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 about 0.15% of Datadog worth $59,265,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Anchor Investment Management LLC acquired a new position in shares of Datadog during the fourth quarter valued at about $25,000. BluePath Capital Management LLC bought a new position in Datadog in the third quarter worth approximately $31,000. Private Trust Co. NA grew its stake in 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 period. AM Squared Ltd bought a new stake in shares of Datadog during the third quarter valued at approximately $36,000. Finally, Headinvest LLC bought a new stake in shares of Datadog during the third quarter valued at approximately $46,000. 78.29% of the stock is owned by institutional investors and hedge funds.

Datadog Price Performance

DDOG stock opened at $125.25 on Friday. The firm has a market cap of $41.57 billion, a P/E ratio of 1,043.75 and a beta of 1.15. The firm’s fifty day moving average is $125.21 and its 200 day moving average is $116.73. Datadog, Inc. has a 52 week low of $63.00 and a 52 week high of $138.61. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.17 and a current ratio of 3.17.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. The business had revenue of $589.65 million for the quarter, compared to analyst estimates of $568.73 million. Datadog had a return on equity of 3.79% and a net margin of 2.28%. Datadog’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period last year, the company earned ($0.08) EPS. Research analysts predict that Datadog, Inc. will post -0.14 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on DDOG shares. Wolfe Research raised their price objective on shares of Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, February 14th. Royal Bank of Canada lifted their price target on Datadog from $145.00 to $151.00 and gave the company an “outperform” rating in a research note on Wednesday, February 14th. Mizuho boosted their price objective on Datadog from $108.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. BMO Capital Markets restated an “outperform” rating and issued a $155.00 target price (up previously from $140.00) on shares of Datadog in a report on Wednesday, February 14th. Finally, Needham & Company LLC upped their price target on Datadog from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Five research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $131.70.

Insider Buying and Selling at Datadog

In related news, President Amit Agarwal sold 33,311 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $128.58, for a total transaction of $4,283,128.38. Following the transaction, the president now owns 294,012 shares in the company, valued at approximately $37,804,062.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Datadog news, President Amit Agarwal sold 33,311 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $128.58, for a total value of $4,283,128.38. Following the completion of the sale, the president now directly owns 294,012 shares in the company, valued at $37,804,062.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Sean Michael Walters sold 20,692 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $128.58, for a total value of $2,660,577.36. Following the transaction, the executive now owns 182,593 shares in the company, valued at approximately $23,477,807.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 759,908 shares of company stock worth $97,728,997. 14.97% of the stock is currently owned by company 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.