New York State Common Retirement Fund Sells 5,723 Shares of Datadog, Inc. (NASDAQ:DDOG)

New York State Common Retirement Fund cut its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 512,728 shares of the company’s stock after selling 5,723 shares during the period. New York State Common Retirement Fund’s holdings in Datadog were worth $73,264,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP boosted its holdings in shares of Datadog by 7.7% in the 4th quarter. Allworth Financial LP now owns 1,043 shares of the company’s stock worth $146,000 after purchasing an additional 75 shares during the period. Spire Wealth Management boosted its holdings in shares of Datadog by 21.4% in the 4th quarter. Spire Wealth Management now owns 453 shares of the company’s stock worth $65,000 after purchasing an additional 80 shares during the period. Avior Wealth Management LLC boosted its holdings in shares of Datadog by 55.9% in the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after purchasing an additional 81 shares during the period. Pathstone Holdings LLC boosted its holdings in shares of Datadog by 0.4% in the 3rd quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock worth $2,664,000 after purchasing an additional 91 shares during the period. Finally, Parsons Capital Management Inc. RI boosted its holdings in shares of Datadog by 2.0% in the 4th quarter. Parsons Capital Management Inc. RI now owns 4,943 shares of the company’s stock worth $706,000 after purchasing an additional 96 shares during the period. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DDOG. Citigroup decreased their price target on Datadog from $170.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Wells Fargo & Company lowered Datadog from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $152.00 to $140.00 in a research note on Thursday, February 13th. Truist Financial decreased their price target on Datadog from $150.00 to $140.00 and set a “hold” rating for the company in a research note on Friday, February 14th. Monness Crespi & Hardt raised Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a research note on Thursday, November 7th. Finally, Needham & Company LLC reissued a “buy” rating and set a $160.00 price target on shares of Datadog in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $158.39.

Insider Activity

In other news, CEO Olivier Pomel sold 178,723 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $161.28, for a total value of $28,824,445.44. Following the completion of the transaction, the chief executive officer now owns 379,693 shares of the company’s stock, valued at $61,236,887.04. The trade was a 32.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business’s 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 approximately $45,861,901.38. This trade represents a 28.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 556,674 shares of company stock valued at $82,904,025 in the last quarter. 11.78% of the stock is currently owned by company insiders.

Datadog Stock Performance

Datadog stock opened at $128.85 on Thursday. The business’s 50-day simple moving average is $143.45 and its two-hundred day simple moving average is $131.51. The company has a market cap of $43.77 billion, a PE ratio of 252.65, a PEG ratio of 15.23 and a beta of 1.15. Datadog, Inc. has a fifty-two week low of $98.80 and a fifty-two week high of $170.08.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a net margin of 6.85% and a return on equity of 8.28%. As a group, analysts predict that Datadog, Inc. will post 0.58 EPS for the current fiscal year.

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.