New York State Common Retirement Fund Has $59.65 Million Holdings in Datadog, Inc. (NASDAQ:DDOG)

New York State Common Retirement Fund cut its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 22.3% in the third quarter, Holdings Channel reports. The institutional investor owned 518,451 shares of the company’s stock after selling 148,527 shares during the quarter. New York State Common Retirement Fund’s holdings in Datadog were worth $59,653,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Pursue Wealth Partners LLC bought a new stake in shares of Datadog during the third quarter valued at approximately $529,000. United Asset Strategies Inc. increased its position in shares of Datadog by 7.3% during the third quarter. United Asset Strategies Inc. now owns 8,722 shares of the company’s stock valued at $1,004,000 after purchasing an additional 594 shares during the period. First Trust Direct Indexing L.P. increased its position in shares of Datadog by 49.0% during the third quarter. First Trust Direct Indexing L.P. now owns 3,598 shares of the company’s stock valued at $414,000 after purchasing an additional 1,184 shares during the period. Highview Capital Management LLC DE bought a new stake in shares of Datadog during the third quarter valued at approximately $963,000. Finally, Deltec Asset Management LLC bought a new stake in shares of Datadog during the third quarter valued at approximately $920,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Datadog

In other Datadog news, CFO David M. Obstler sold 33,333 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $130.39, for a total value of $4,346,289.87. Following the transaction, the chief financial officer now owns 314,158 shares of the company’s stock, valued at approximately $40,963,061.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $104.21, for a total value of $8,924,231.77. Following the transaction, the chief executive officer now owns 405,314 shares of the company’s stock, valued at approximately $42,237,771.94. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO David M. Obstler sold 33,333 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $130.39, for a total value of $4,346,289.87. Following the completion of the sale, the chief financial officer now owns 314,158 shares of the company’s stock, valued at $40,963,061.62. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 529,928 shares of company stock valued at $63,079,091. 11.78% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on DDOG shares. Evercore ISI started coverage on Datadog in a research report on Monday, July 15th. They set an “outperform” rating and a $150.00 price objective on the stock. Needham & Company LLC lowered their price objective on Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Loop Capital restated a “buy” rating and set a $160.00 price objective on shares of Datadog in a research report on Friday, July 5th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $150.00 price target on shares of Datadog in a research report on Monday, July 22nd. Finally, Sanford C. Bernstein lowered their price target on Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Datadog presently has an average rating of “Moderate Buy” and a consensus target price of $142.54.

Datadog Stock Down 1.7 %

Shares of DDOG opened at $123.26 on Friday. Datadog, Inc. has a 12-month low of $77.81 and a 12-month high of $138.61. The firm has a market capitalization of $41.56 billion, a PE ratio of 273.92, a price-to-earnings-growth ratio of 23.40 and a beta of 1.11. The stock’s fifty day simple moving average is $118.55 and its 200-day simple moving average is $119.47.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.06. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The business had revenue of $645.28 million for the quarter, compared to analyst estimates of $624.92 million. During the same quarter in the prior year, the firm posted $0.36 earnings per share. The firm’s revenue for the quarter was up 26.7% compared to the same quarter last year. Analysts anticipate that Datadog, Inc. will post 0.42 EPS for the current year.

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.