Teachers Retirement System of The State of Kentucky Has $10.03 Million Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Teachers Retirement System of The State of Kentucky lifted its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 3.6% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 81,180 shares of the company’s stock after buying an additional 2,800 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Datadog were worth $10,034,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Norges Bank bought a new position in Datadog in the 4th quarter valued at about $384,986,000. Kodai Capital Management LP acquired a new position in Datadog during the 1st quarter worth approximately $116,054,000. 1832 Asset Management L.P. increased its position in Datadog by 47.9% during the 4th quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock worth $317,955,000 after purchasing an additional 848,000 shares in the last quarter. Vanguard Group Inc. increased its position in Datadog by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 27,259,414 shares of the company’s stock worth $3,308,748,000 after purchasing an additional 734,539 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Datadog by 31.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,733,448 shares of the company’s stock worth $331,786,000 after purchasing an additional 651,244 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Insiders Place Their Bets

In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $125.41, for a total value of $10,739,736.17. Following the completion of the sale, the chief executive officer now directly owns 337,247 shares of the company’s stock, valued at $42,294,146.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Datadog news, insider Madre Armelle De sold 300 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $113.37, for a total value of $34,011.00. Following the completion of the sale, the insider now directly owns 100,053 shares of the company’s stock, valued at $11,343,008.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $125.41, for a total transaction of $10,739,736.17. Following the completion of the sale, the chief executive officer now directly owns 337,247 shares of the company’s stock, valued at $42,294,146.27. 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 Price Performance

Datadog stock traded down $5.85 during midday trading on Friday, reaching $107.25. 5,247,345 shares of the stock were exchanged, compared to its average volume of 3,503,634. The company’s fifty day moving average is $120.38 and its 200-day moving average is $123.68. The firm has a market cap of $35.88 billion, a PE ratio of 335.16, a PEG ratio of 37.24 and a beta of 1.11. 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, Inc. has a 52 week low of $77.81 and a 52 week high of $138.61.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.20. Datadog had a return on equity of 7.48% and a net margin of 5.11%. The company had revenue of $611.25 million during the quarter, compared to analyst estimates of $589.97 million. On average, sell-side analysts forecast that Datadog, Inc. will post 0.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on DDOG shares. Wells Fargo & Company upgraded shares of Datadog from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $130.00 to $150.00 in a research report on Tuesday, April 23rd. Stifel Nicolaus restated a “buy” rating and issued a $152.00 price target on shares of Datadog in a research report on Monday, April 22nd. JMP Securities upgraded shares of Datadog to a “hold” rating in a research report on Wednesday, May 8th. Baird R W upgraded shares of Datadog from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $146.00 price target on shares of Datadog in a research report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $138.37.

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.