California State Teachers Retirement System Purchases 22,857 Shares of Datadog, Inc. (NASDAQ:DDOG)

California State Teachers Retirement System raised its stake in Datadog, Inc. (NASDAQ:DDOG) by 5.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 419,633 shares of the company’s stock after purchasing an additional 22,857 shares during the period. California State Teachers Retirement System owned approximately 0.13% of Datadog worth $51,867,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Blue Trust Inc. raised its stake in shares of Datadog by 40.7% in the 4th quarter. Blue Trust Inc. now owns 1,023 shares of the company’s stock valued at $124,000 after buying an additional 296 shares in the last quarter. Caprock Group LLC bought a new stake in Datadog during the 4th quarter worth about $247,000. Fifth Third Bancorp grew its holdings in Datadog by 815.0% during the 4th quarter. Fifth Third Bancorp now owns 1,885 shares of the company’s stock worth $229,000 after acquiring an additional 1,679 shares during the last quarter. StoneCrest Wealth Management Inc. bought a new stake in Datadog during the 4th quarter worth about $945,000. Finally, Black Swift Group LLC bought a new position in shares of Datadog in the 4th quarter valued at about $3,641,000. 78.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Bank of America raised shares of Datadog from a “neutral” rating to a “buy” rating and raised their target price for the company from $143.00 to $155.00 in a research note on Thursday, May 30th. Baird R W raised shares of Datadog from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 8th. Wells Fargo & Company raised shares of Datadog from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $130.00 to $150.00 in a research note on Tuesday, April 23rd. Cantor Fitzgerald reissued an “overweight” rating and set a $150.00 price objective on shares of Datadog in a research note on Monday, July 22nd. Finally, Stifel Nicolaus restated a “buy” rating and set a $152.00 target price on shares of Datadog in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.37.

Insider Activity at Datadog

In other Datadog news, CEO Olivier Pomel sold 200,993 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $131.01, for a total transaction of $26,332,092.93. Following the completion of the transaction, the chief executive officer now owns 324,539 shares of the company’s stock, valued at $42,517,854.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Datadog news, CEO Olivier Pomel sold 200,993 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $131.01, for a total transaction of $26,332,092.93. Following the transaction, the chief executive officer now directly owns 324,539 shares in the company, valued at approximately $42,517,854.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $130.75, for a total value of $16,618,978.75. Following the transaction, the chief technology officer now owns 279,025 shares in the company, valued at $36,482,518.75. The disclosure for this sale can be found here. Insiders sold a total of 857,606 shares of company stock valued at $103,799,779 over the last quarter. 11.78% of the stock is owned by corporate insiders.

Datadog Stock Performance

Shares of Datadog stock traded up $0.12 during trading on Thursday, reaching $116.56. The company’s stock had a trading volume of 186,208 shares, compared to its average volume of 4,008,137. The business’s 50-day moving average price is $120.89 and its 200-day moving average price is $123.87. The firm has a market cap of $38.99 billion, a PE ratio of 363.88, a P/E/G ratio of 37.76 and a beta of 1.11. Datadog, Inc. has a 52 week low of $77.81 and a 52 week high of $138.61. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 0.34.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.20. The business had revenue of $611.25 million during the quarter, compared to the consensus estimate of $589.97 million. Datadog had a return on equity of 7.48% and a net margin of 5.11%. Equities analysts forecast that Datadog, Inc. will post 0.32 earnings per share for the current year.

Datadog 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.