California State Teachers Retirement System Acquires 16,712 Shares of Datadog, Inc. (NASDAQ:DDOG)

California State Teachers Retirement System raised its holdings in Datadog, Inc. (NASDAQ:DDOG – Get Rating) by 4.3% during the third quarter, HoldingsChannel.com reports. The fund owned 406,398 shares of the company’s stock after purchasing an additional 16,712 shares during the period. California State Teachers Retirement System’s holdings in Datadog were worth $36,080,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. CI Investments Inc. boosted its stake in shares of Datadog by 1,003.2% in the 3rd quarter. CI Investments Inc. now owns 342 shares of the company’s stock valued at $30,000 after purchasing an additional 311 shares in the last quarter. CoreCap Advisors LLC bought a new position in Datadog in the 2nd quarter valued at approximately $32,000. Guardian Wealth Advisors LLC acquired a new stake in Datadog in the third quarter valued at approximately $35,000. Allworth Financial LP grew its stake in shares of Datadog by 95.4% during the third quarter. Allworth Financial LP now owns 557 shares of the company’s stock worth $49,000 after buying an additional 272 shares during the last quarter. Finally, Ellevest Inc. increased its holdings in shares of Datadog by 69.6% during the third quarter. Ellevest Inc. now owns 570 shares of the company’s stock worth $51,000 after buying an additional 234 shares in the last quarter. Institutional investors and hedge funds own 70.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Mizuho boosted their price objective on Datadog from $85.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, February 17th. Capital One Financial assumed coverage on Datadog in a research note on Friday, February 17th. They issued an “overweight” rating and a $105.00 price objective for the company. Canaccord Genuity Group cut their target price on shares of Datadog from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Tuesday, February 21st. Oppenheimer upgraded shares of Datadog from a “market perform” rating to an “outperform” rating and set a $105.00 price target for the company in a research report on Wednesday, December 14th. Finally, Royal Bank of Canada cut their price target on shares of Datadog from $105.00 to $100.00 and set an “outperform” rating on the stock in a report on Monday, February 13th. Six investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $111.79.

Insiders Place Their Bets

In other news, insider Alexis Le-Quoc sold 71,364 shares of the business’s stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $69.53, for a total transaction of $4,961,938.92. Following the completion of the sale, the insider now owns 179,370 shares in the company, valued at $12,471,596.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Alexis Le-Quoc sold 71,364 shares of Datadog stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $69.53, for a total transaction of $4,961,938.92. Following the completion of the transaction, the insider now directly owns 179,370 shares in the company, valued at $12,471,596.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction dated Thursday, January 26th. The stock was sold at an average price of $73.98, for a total transaction of $6,335,425.26. Following the sale, the chief executive officer now directly owns 243,282 shares of the company’s stock, valued at $17,998,002.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 562,140 shares of company stock worth $41,618,118. Corporate insiders own 15.80% of the company’s stock.

Datadog Stock Down 0.9 %

Shares of NASDAQ DDOG opened at $68.62 on Friday. 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 firm has a market cap of $21.95 billion, a PE ratio of -428.88 and a beta of 0.99. The company’s fifty day simple moving average is $75.14 and its 200 day simple moving average is $79.44. Datadog, Inc. has a 12-month low of $61.34 and a 12-month high of $159.00.

Datadog (NASDAQ:DDOG – Get Rating) last announced its quarterly earnings data on Thursday, February 16th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.01. The firm had revenue of $469.40 million for the quarter, compared to analyst estimates of $447.02 million. Datadog had a negative net margin of 2.99% and a negative return on equity of 2.61%. As a group, sell-side analysts forecast that Datadog, Inc. will post -0.1 earnings per share for the current fiscal year.

About Datadog

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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.