Teachers Retirement System of The State of Kentucky Reduces Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Teachers Retirement System of The State of Kentucky lowered its stake in Datadog, Inc. (NASDAQ:DDOG) by 4.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,380 shares of the company’s stock after selling 3,699 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Datadog were worth $9,514,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Anchor Investment Management LLC purchased a new stake in Datadog in the fourth quarter worth approximately $25,000. Raleigh Capital Management Inc. bought a new position in Datadog in the fourth quarter worth approximately $29,000. Private Trust Co. NA raised its position in Datadog by 743.3% in the fourth quarter. Private Trust Co. NA now owns 253 shares of the company’s stock worth $31,000 after acquiring an additional 223 shares during the period. Jones Financial Companies Lllp bought a new position in Datadog in the fourth quarter worth approximately $33,000. Finally, Quest Partners LLC bought a new position in Datadog in the fourth quarter worth approximately $36,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Insider Buying and Selling

In related news, CRO Sean Michael Walters sold 3,134 shares of Datadog stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $113.58, for a total transaction of $355,959.72. Following the completion of the transaction, the executive now directly owns 199,772 shares of the company’s stock, valued at approximately $22,690,103.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CRO Sean Michael Walters sold 3,134 shares of Datadog stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $113.58, for a total transaction of $355,959.72. Following the completion of the sale, the executive now owns 199,772 shares in the company, valued at approximately $22,690,103.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Titilope Cole sold 2,210 shares of Datadog stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $112.34, for a total transaction of $248,271.40. Following the sale, the director now owns 6,451 shares of the company’s stock, valued at approximately $724,705.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 679,553 shares of company stock valued at $80,060,728. Company insiders own 11.78% of the company’s stock.

Analyst Upgrades and Downgrades

DDOG has been the topic of several recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $165.00 price target on shares of Datadog in a research report on Wednesday, May 15th. Baird R W upgraded shares of Datadog from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. BMO Capital Markets decreased their price target on shares of Datadog from $155.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 8th. Stifel Nicolaus restated a “buy” rating and set a $152.00 price objective on shares of Datadog in a research report on Monday, April 22nd. Finally, Robert W. Baird upgraded shares of Datadog from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $130.00 to $140.00 in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $136.04.

Datadog Price Performance

Shares of NASDAQ:DDOG traded down $1.70 on Friday, reaching $117.84. The company’s stock had a trading volume of 3,618,892 shares, compared to its average volume of 3,587,438. Datadog, Inc. has a 52-week low of $77.81 and a 52-week high of $138.61. The company has a market cap of $39.42 billion, a P/E ratio of 368.25, a PEG ratio of 45.92 and a beta of 1.09. The company has a 50-day simple moving average of $120.89 and a 200 day simple moving average of $122.87. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.43 and a current ratio of 3.43.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.20. Datadog had a net margin of 5.11% and a return on equity of 7.48%. The firm had revenue of $611.25 million during the quarter, compared to analysts’ expectations of $589.97 million. As a group, equities research analysts anticipate that Datadog, Inc. will post 0.27 EPS for the current fiscal year.

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.