New York State Common Retirement Fund Decreases Position in Datadog, Inc. (NASDAQ:DDOG)

New York State Common Retirement Fund cut its position in Datadog, Inc. (NASDAQ:DDOG) by 22.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 518,451 shares of the company’s stock after selling 148,527 shares during the period. New York State Common Retirement Fund owned approximately 0.15% of Datadog worth $59,653,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Pursue Wealth Partners LLC bought a new stake in Datadog during the third quarter valued at approximately $529,000. United Asset Strategies Inc. lifted its holdings in Datadog by 7.3% during the third quarter. United Asset Strategies Inc. now owns 8,722 shares of the company’s stock valued at $1,004,000 after purchasing an additional 594 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in Datadog by 49.0% during the third quarter. First Trust Direct Indexing L.P. now owns 3,598 shares of the company’s stock valued at $414,000 after purchasing an additional 1,184 shares in the last quarter. Highview Capital Management LLC DE purchased a new position in Datadog during the third quarter valued at approximately $963,000. Finally, Deltec Asset Management LLC bought a new position in shares of Datadog during the third quarter worth $920,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Shardul Shah sold 7,916 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $126.67, for a total value of $1,002,719.72. Following the completion of the sale, the director now directly owns 451,533 shares in the company, valued at approximately $57,195,685.11. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Olivier Pomel sold 85,637 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $104.21, for a total transaction of $8,924,231.77. Following the completion of the transaction, the chief executive officer now directly owns 405,314 shares in the company, valued at $42,237,771.94. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shardul Shah sold 7,916 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $126.67, for a total value of $1,002,719.72. Following the transaction, the director now owns 451,533 shares of the company’s stock, valued at approximately $57,195,685.11. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 529,928 shares of company stock worth $63,079,091. 11.78% of the stock is currently owned by insiders.

Analyst Ratings Changes

DDOG has been the subject of a number of research reports. Evercore ISI initiated coverage on shares of Datadog in a research report on Monday, July 15th. They set an “outperform” rating and a $150.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $151.00 price objective on shares of Datadog in a research report on Friday, August 9th. BMO Capital Markets increased their price objective on shares of Datadog from $132.00 to $135.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. BTIG Research upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective for the company in a research report on Thursday, August 1st. Finally, BNP Paribas initiated coverage on shares of Datadog in a research report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price objective for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $142.54.

Datadog Stock Performance

Shares of DDOG opened at $123.26 on Friday. The firm has a market capitalization of $41.56 billion, a price-to-earnings ratio of 273.92, a price-to-earnings-growth ratio of 23.40 and a beta of 1.11. Datadog, Inc. has a one year low of $77.81 and a one year high of $138.61. The stock’s fifty day moving average is $118.55 and its 200-day moving average is $119.47.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.06. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The firm had revenue of $645.28 million during the quarter, compared to the consensus estimate of $624.92 million. During the same period in the prior year, the business earned $0.36 EPS. The business’s revenue for the quarter was up 26.7% on a year-over-year basis. Analysts forecast that Datadog, Inc. will post 0.42 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.