California Public Employees Retirement System Sells 38,373 Shares of Datadog, Inc. (NASDAQ:DDOG)

California Public Employees Retirement System decreased its position in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 7.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 470,894 shares of the company's stock after selling 38,373 shares during the quarter. California Public Employees Retirement System owned 0.14% of Datadog worth $67,286,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Allworth Financial LP raised its holdings in shares of Datadog by 7.7% in the fourth quarter. Allworth Financial LP now owns 1,043 shares of the company's stock valued at $146,000 after buying an additional 75 shares during the last quarter. Spire Wealth Management raised its stake in shares of Datadog by 21.4% in the fourth quarter. Spire Wealth Management now owns 453 shares of the company's stock worth $65,000 after acquiring an additional 80 shares during the last quarter. Avior Wealth Management LLC lifted its position in shares of Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock worth $32,000 after purchasing an additional 81 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Datadog by 5.2% during the fourth quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company's stock valued at $265,000 after purchasing an additional 92 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in shares of Datadog by 16.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 663 shares of the company's stock valued at $95,000 after purchasing an additional 94 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company's stock.

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Datadog Trading Down 7.1 %

Shares of DDOG stock traded down $7.24 on Thursday, hitting $94.47. 5,748,186 shares of the stock were exchanged, compared to its average volume of 4,207,668. The firm has a market capitalization of $32.38 billion, a P/E ratio of 185.24, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22. Datadog, Inc. has a fifty-two week low of $93.23 and a fifty-two week high of $170.08. The business has a 50-day moving average of $121.49 and a 200 day moving average of $130.62.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. As a group, research analysts forecast that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other Datadog news, CRO Sean Michael Walters sold 8,454 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total transaction of $862,646.16. Following the transaction, the executive now owns 185,871 shares of the company's stock, valued at $18,966,276.84. The trade was a 4.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on 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 sale, the chief technology officer now directly owns 324,778 shares of the company's stock, valued at approximately $45,861,901.38. The trade was a 28.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 601,412 shares of company stock valued at $75,444,584 in the last three months. 11.78% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have commented on DDOG shares. Wells Fargo & Company lowered Datadog from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $152.00 to $140.00 in a research report on Thursday, February 13th. Macquarie reiterated an "outperform" rating and issued a $200.00 price target on shares of Datadog in a report on Tuesday, February 11th. Truist Financial dropped their price objective on Datadog from $140.00 to $120.00 and set a "hold" rating for the company in a report on Monday. Guggenheim reaffirmed a "neutral" rating on shares of Datadog in a research note on Wednesday, January 22nd. Finally, Royal Bank of Canada lifted their price target on shares of Datadog from $151.00 to $170.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. One investment 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $157.22.

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.