New York State Common Retirement Fund Has $100.77 Million Holdings in Datadog, Inc. (NASDAQ:DDOG)

New York State Common Retirement Fund cut its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 5.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 830,213 shares of the company’s stock after selling 43,748 shares during the quarter. New York State Common Retirement Fund owned about 0.25% of Datadog worth $100,771,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA acquired a new stake in shares of Datadog during the third quarter worth $189,668,000. Quintet Private Bank Europe S.A. acquired a new stake in Datadog in the third quarter worth $270,000. Mengis Capital Management Inc. acquired a new stake in Datadog in the third quarter worth $409,000. Bank of New York Mellon Corp grew its holdings in Datadog by 2.5% in the third quarter. Bank of New York Mellon Corp now owns 1,378,534 shares of the company’s stock worth $125,571,000 after purchasing an additional 33,748 shares during the period. Finally, Cercano Management LLC grew its holdings in Datadog by 40.4% in the third quarter. Cercano Management LLC now owns 309,560 shares of the company’s stock worth $28,198,000 after purchasing an additional 89,019 shares during the period. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Trading Up 3.8 %

Shares of Datadog stock traded up $4.65 during trading on Tuesday, reaching $126.72. The company’s stock had a trading volume of 1,966,807 shares, compared to its average volume of 4,015,966. Datadog, Inc. has a 52-week low of $62.60 and a 52-week high of $138.61. The company has a market cap of $42.05 billion, a price-to-earnings ratio of 1,017.25 and a beta of 1.16. The firm’s 50-day moving average is $125.63 and its two-hundred day moving average is $116.37. 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 (NASDAQ:DDOG) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $568.73 million. During the same quarter in the prior year, the company earned ($0.08) EPS. The firm’s revenue was up 25.6% on a year-over-year basis. On average, sell-side analysts anticipate that Datadog, Inc. will post -0.14 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on DDOG. Wells Fargo & Company upgraded shares of Datadog from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $130.00 to $150.00 in a report on Tuesday. Cantor Fitzgerald restated an “overweight” rating and issued a $150.00 price target on shares of Datadog in a report on Wednesday, April 17th. Robert W. Baird raised their price target on shares of Datadog from $120.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Canaccord Genuity Group restated a “buy” rating and issued a $150.00 price target on shares of Datadog in a report on Friday, February 23rd. Finally, Needham & Company LLC raised their price target on shares of Datadog from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Five equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.70.

Insider Buying and Selling at Datadog

In other Datadog news, COO Adam Blitzer sold 20,892 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $128.58, for a total transaction of $2,686,293.36. Following the completion of the sale, the chief operating officer now owns 203,503 shares of the company’s stock, valued at approximately $26,166,415.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Olivier Pomel sold 133,315 shares of the firm’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 completion of 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Adam Blitzer sold 20,892 shares of the firm’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 $2,686,293.36. Following the completion of the sale, the chief operating officer now directly owns 203,503 shares of the company’s stock, valued at $26,166,415.74. The disclosure for this sale can be found here. Insiders sold 745,984 shares of company stock valued at $95,917,681 in the last quarter. Company insiders own 14.97% of the company’s stock.

Datadog Company 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.