69,762 Shares in Datadog, Inc. (NASDAQ:DDOG) Bought by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Datadog, Inc. (NASDAQ:DDOG – Get Rating) in the 3rd quarter, HoldingsChannel reports. The firm purchased 69,762 shares of the company’s stock, valued at approximately $6,193,000.

Other institutional investors have also added to or reduced their stakes in the company. CI Investments Inc. boosted its position in Datadog by 1,003.2% during the third quarter. CI Investments Inc. now owns 342 shares of the company’s stock valued at $30,000 after buying an additional 311 shares during the period. CoreCap Advisors LLC purchased a new stake in Datadog during the second quarter valued at about $32,000. Guardian Wealth Advisors LLC purchased a new stake in Datadog during the third quarter valued at about $35,000. Allworth Financial LP boosted its position in Datadog by 95.4% during the third quarter. Allworth Financial LP now owns 557 shares of the company’s stock valued at $49,000 after buying an additional 272 shares during the period. Finally, Ellevest Inc. boosted its position in Datadog by 69.6% during the third quarter. Ellevest Inc. now owns 570 shares of the company’s stock valued at $51,000 after buying an additional 234 shares during the period. 70.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. BTIG Research lowered shares of Datadog from a “buy” rating to a “neutral” rating in a report on Friday, January 27th. Royal Bank of Canada dropped their target price on shares of Datadog from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Monday, February 13th. Morgan Stanley dropped their target price on shares of Datadog from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, February 17th. Wedbush assumed coverage on shares of Datadog in a report on Wednesday, December 14th. They set an “outperform” rating and a $101.00 target price for the company. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $105.00 target price on shares of Datadog in a report on Thursday, March 9th. Six equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, Datadog presently has a consensus rating of “Moderate Buy” and a consensus price target of $111.79.

Insider Activity

In related news, CRO Sean Michael Walters sold 15,195 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $73.69, for a total value of $1,119,719.55. Following the sale, the executive now owns 141,774 shares in the company, valued at $10,447,326.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Alexis Le-Quoc sold 71,364 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $66.09, for a total value of $4,716,446.76. Following the sale, the insider now owns 201,623 shares in the company, valued at $13,325,264.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Sean Michael Walters sold 15,195 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $73.69, for a total transaction of $1,119,719.55. Following the completion of the sale, the executive now owns 141,774 shares in the company, valued at approximately $10,447,326.06. The disclosure for this sale can be found here. Insiders have sold a total of 562,140 shares of company stock worth $41,618,118 over the last 90 days. 15.80% of the stock is currently owned by insiders.

Datadog Trading Down 0.9 %

NASDAQ:DDOG opened at $68.62 on Friday. The company’s 50 day moving average price is $75.14 and its 200-day moving average price is $79.44. Datadog, Inc. has a 52 week low of $61.34 and a 52 week high of $159.00. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.52. The stock has a market cap of $21.95 billion, a price-to-earnings ratio of -428.88 and a beta of 0.99.

Datadog (NASDAQ:DDOG – Get Rating) last posted its quarterly earnings results on Thursday, February 16th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. Datadog had a negative net margin of 2.99% and a negative return on equity of 2.61%. The firm had revenue of $469.40 million for the quarter, compared to analysts’ expectations of $447.02 million. On average, equities research analysts forecast that Datadog, Inc. will post -0.1 earnings per share for the current fiscal year.

Datadog Company Profile

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Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. The company's SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, log management, and security monitoring to provide real-time observability of its customers technology stack.