State of New Jersey Common Pension Fund D Purchases 2,363 Shares of Datadog, Inc. (NASDAQ:DDOG)

State of New Jersey Common Pension Fund D lifted its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 146,481 shares of the company’s stock after acquiring an additional 2,363 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Datadog were worth $17,780,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Syon Capital LLC bought a new position in shares of Datadog in the 4th quarter valued at $666,000. Tokio Marine Asset Management Co. Ltd. boosted its stake in Datadog by 9.3% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,640 shares of the company’s stock valued at $927,000 after buying an additional 652 shares in the last quarter. Atria Wealth Solutions Inc. grew its position in Datadog by 10.5% in the fourth quarter. Atria Wealth Solutions Inc. now owns 11,635 shares of the company’s stock valued at $1,412,000 after acquiring an additional 1,104 shares during the last quarter. Harvest Fund Management Co. Ltd raised its stake in Datadog by 27.8% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 3,008 shares of the company’s stock worth $364,000 after acquiring an additional 655 shares in the last quarter. Finally, Yousif Capital Management LLC lifted its holdings in shares of Datadog by 3.2% in the fourth quarter. Yousif Capital Management LLC now owns 3,183 shares of the company’s stock worth $386,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Stock Performance

NASDAQ DDOG traded down $1.82 on Thursday, hitting $125.25. 2,940,251 shares of the stock traded hands, compared to its average volume of 4,033,012. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.17 and a current ratio of 3.17. The firm has a market capitalization of $41.57 billion, a price-to-earnings ratio of 1,058.92 and a beta of 1.15. Datadog, Inc. has a 12 month low of $63.00 and a 12 month high of $138.61. The business’s fifty day moving average is $125.35 and its two-hundred day moving average is $116.67.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $589.65 million for the quarter, compared to analysts’ expectations of $568.73 million. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.08) EPS. As a group, equities analysts anticipate that Datadog, Inc. will post -0.14 EPS for the current fiscal year.

Analysts Set New Price Targets

DDOG has been the subject of a number of research analyst reports. Canaccord Genuity Group reiterated a “buy” rating and set a $150.00 price objective on shares of Datadog in a research report on Friday, February 23rd. BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 price target (up from $140.00) on shares of Datadog in a research note on Wednesday, February 14th. Citigroup boosted their price objective on Datadog from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. Robert W. Baird upped their target price on Datadog from $120.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $152.00 price target on shares of Datadog in a research note on Monday. Five investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, Datadog currently has an average rating of “Moderate Buy” and an average target price of $131.70.

Insider Transactions at Datadog

In other news, COO Adam Blitzer sold 20,892 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $128.58, for a total transaction of $2,686,293.36. Following the transaction, the chief operating officer now directly owns 203,503 shares in the company, valued at approximately $26,166,415.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Datadog news, CRO Sean Michael Walters sold 20,692 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $128.58, for a total value of $2,660,577.36. Following the sale, the executive now owns 182,593 shares of the company’s stock, valued at approximately $23,477,807.94. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Adam Blitzer sold 20,892 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $128.58, for a total transaction of $2,686,293.36. Following the completion of the transaction, the chief operating officer now owns 203,503 shares in the company, valued at approximately $26,166,415.74. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 735,984 shares of company stock valued at $94,617,681. 14.97% of the stock is currently owned by corporate insiders.

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.