Arizona State Retirement System Purchases 1,434 Shares of Datadog, Inc. (NASDAQ:DDOG)

Arizona State Retirement System increased its position in Datadog, Inc. (NASDAQ:DDOG) by 1.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 79,821 shares of the company’s stock after buying an additional 1,434 shares during the period. Arizona State Retirement System’s holdings in Datadog were worth $10,352,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. SouthState Corp purchased a new stake in shares of Datadog during the second quarter worth about $26,000. Riverview Trust Co purchased a new stake in Datadog during the 1st quarter valued at approximately $26,000. Raleigh Capital Management Inc. bought a new stake in shares of Datadog during the fourth quarter valued at approximately $29,000. Jones Financial Companies Lllp purchased a new position in shares of Datadog in the fourth quarter worth $33,000. Finally, Quest Partners LLC bought a new position in shares of Datadog during the fourth quarter worth $36,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Trading Down 2.6 %

Shares of DDOG stock opened at $107.20 on Friday. Datadog, Inc. has a twelve month low of $77.81 and a twelve month high of $138.61. The stock has a fifty day simple moving average of $118.42 and a two-hundred day simple moving average of $120.87. The stock has a market capitalization of $35.86 billion, a price-to-earnings ratio of 335.00, a P/E/G ratio of 29.66 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. The company had revenue of $645.28 million during the quarter, compared to analyst estimates of $624.92 million. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The firm’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 earnings per share. Research analysts predict that Datadog, Inc. will post 0.41 EPS for the current fiscal year.

Insider Activity at Datadog

In other Datadog news, CEO Olivier Pomel sold 200,993 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $131.01, for a total transaction of $26,332,092.93. Following the completion of the sale, the chief executive officer now owns 324,539 shares in the company, valued at $42,517,854.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Datadog news, CEO Olivier Pomel sold 200,993 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $131.01, for a total value of $26,332,092.93. Following the completion of the transaction, the chief executive officer now directly owns 324,539 shares in the company, valued at $42,517,854.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Titilope Cole sold 2,210 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $112.34, for a total transaction of $248,271.40. Following the sale, the director now directly owns 6,451 shares of the company’s stock, valued at $724,705.34. The disclosure for this sale can be found here. Insiders have sold a total of 576,500 shares of company stock valued at $70,322,713 over the last ninety days. 11.78% of the stock is owned by company insiders.

Analyst Ratings Changes

DDOG has been the subject of several research reports. Evercore ISI assumed coverage on shares of Datadog in a report on Monday, July 15th. They set an “outperform” rating and a $150.00 price objective for the company. Wedbush restated an “outperform” rating and set a $155.00 price target on shares of Datadog in a report on Friday, August 9th. Loop Capital reaffirmed a “buy” rating and set a $160.00 price objective on shares of Datadog in a report on Friday, July 5th. BTIG Research raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 target price for the company in a report on Thursday, August 1st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $151.00 price target on shares of Datadog in a research note on Friday, August 9th. Four analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $139.88.

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.