Teacher Retirement System of Texas Increases Stake in Datadog, Inc. (NASDAQ:DDOG)

Teacher Retirement System of Texas boosted its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 400.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,283 shares of the company's stock after acquiring an additional 17,829 shares during the quarter. Teacher Retirement System of Texas' holdings in Datadog were worth $3,184,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Retirement Wealth Solutions LLC bought a new position in shares of Datadog in the fourth quarter valued at approximately $30,000. Avior Wealth Management LLC lifted its stake in Datadog by 55.9% during the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock valued at $32,000 after acquiring an additional 81 shares in the last quarter. True Wealth Design LLC boosted its holdings in Datadog by 12,000.0% during the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company's stock worth $28,000 after acquiring an additional 240 shares during the last quarter. Quarry LP bought a new stake in shares of Datadog in the 3rd quarter worth $33,000. Finally, Kieckhefer Group LLC purchased a new stake in shares of Datadog in the fourth quarter valued at about $43,000. Institutional investors and hedge funds own 78.29% of the company's stock.

Insiders Place Their Bets

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $142.78, for a total value of $18,148,051.90. Following the sale, the chief technology officer now directly owns 324,778 shares of the company's stock, valued at $46,371,802.84. This represents a 28.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Olivier Pomel sold 107,365 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $109.56, for a total value of $11,762,909.40. Following the transaction, the chief executive officer now directly owns 435,793 shares of the company's stock, valued at $47,745,481.08. This represents a 19.77 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 601,412 shares of company stock worth $75,444,584. Company insiders own 11.78% of the company's stock.

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Wall Street Analyst Weigh In

Several research firms have recently issued reports on DDOG. Needham & Company LLC reaffirmed a "buy" rating and issued a $160.00 target price on shares of Datadog in a report on Tuesday, March 4th. Cantor Fitzgerald began coverage on shares of Datadog in a report on Friday, January 17th. They set an "overweight" rating and a $180.00 target price on the stock. JMP Securities reaffirmed a "market perform" rating on shares of Datadog in a report on Friday, February 14th. Wells Fargo & Company downgraded shares of Datadog from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $152.00 to $140.00 in a report on Thursday, February 13th. Finally, Mizuho increased their price objective on Datadog from $155.00 to $170.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Datadog presently has an average rating of "Moderate Buy" and an average price target of $158.70.

Datadog Price Performance

DDOG traded down $3.58 during trading on Friday, hitting $101.27. 1,271,318 shares of the stock traded hands, compared to its average volume of 4,171,206. The firm has a market capitalization of $34.71 billion, a P/E ratio of 198.53, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22. Datadog, Inc. has a 12-month low of $98.30 and a 12-month high of $170.08. The firm has a 50-day moving average of $124.54 and a 200 day moving average of $130.69.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its 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, equities analysts predict that Datadog, Inc. will post 0.34 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.