Datadog, Inc. (NASDAQ:DDOG) Position Boosted by Teacher Retirement System of Texas

Teacher Retirement System of Texas lifted its stake in Datadog, Inc. (NASDAQ:DDOG) by 400.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 22,283 shares of the company’s stock after acquiring an additional 17,829 shares during the quarter. Teacher Retirement System of Texas’ holdings in Datadog were worth $3,184,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in DDOG. True Wealth Design LLC lifted its position in Datadog by 12,000.0% in the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after buying an additional 240 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new stake in shares of Datadog during the fourth quarter worth $30,000. Avior Wealth Management LLC boosted its position in Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after purchasing an additional 81 shares during the last quarter. Quarry LP purchased a new position in Datadog in the third quarter valued at about $33,000. Finally, Kieckhefer Group LLC acquired a new position in Datadog in the 4th quarter worth about $43,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Stock Up 0.4 %

Shares of DDOG opened at $110.58 on Wednesday. The company has a 50-day moving average price of $125.84 and a two-hundred day moving average price of $131.03. The stock has a market cap of $37.90 billion, a price-to-earnings ratio of 216.83, a P/E/G ratio of 44.03 and a beta of 1.22. Datadog, Inc. has a 12 month low of $98.30 and a 12 month high of $170.08.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. Equities research analysts expect that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. DA Davidson boosted their price target on Datadog from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Citigroup reduced their price objective on shares of Datadog from $170.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Truist Financial decreased their price objective on shares of Datadog from $150.00 to $140.00 and set a “hold” rating for the company in a report on Friday, February 14th. Royal Bank of Canada raised their target price on Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, JMP Securities reissued a “market perform” rating on shares of Datadog in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $158.70.

Insider Transactions at Datadog

In other news, Director Shardul Shah sold 7,916 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $142.12, for a total transaction of $1,125,021.92. Following the sale, the director now owns 427,785 shares in the company, valued at approximately $60,796,804.20. This represents a 1.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $141.21, for a total value of $17,948,497.05. Following the completion of the transaction, the chief technology officer now directly owns 324,778 shares of the company’s stock, valued at $45,861,901.38. This represents a 28.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 626,412 shares of company stock valued at $79,144,334. Corporate insiders own 11.78% of the company’s stock.

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.