Kentucky Retirement Systems Takes Position in Datadog, Inc. (NASDAQ:DDOG)

Kentucky Retirement Systems purchased a new position in Datadog, Inc. (NASDAQ:DDOG) during the first quarter, HoldingsChannel reports. The firm purchased 20,746 shares of the company’s stock, valued at approximately $2,058,000.

Several other institutional investors also recently bought and sold shares of the company. Center for Financial Planning Inc. raised its holdings in Datadog by 1,189.7% in the first quarter. Center for Financial Planning Inc. now owns 374 shares of the company’s stock worth $37,000 after buying an additional 345 shares during the last quarter. Nilsine Partners LLC grew its holdings in shares of Datadog by 7.4% during the first quarter. Nilsine Partners LLC now owns 2,602 shares of the company’s stock valued at $258,000 after buying an additional 179 shares during the last quarter. Praxis Investment Management Inc. increased its position in shares of Datadog by 20.6% during the first quarter. Praxis Investment Management Inc. now owns 10,050 shares of the company’s stock valued at $997,000 after acquiring an additional 1,720 shares in the last quarter. Cabot Wealth Management Inc. raised its holdings in Datadog by 1.5% in the 1st quarter. Cabot Wealth Management Inc. now owns 17,149 shares of the company’s stock worth $1,701,000 after acquiring an additional 256 shares during the last quarter. Finally, Covea Finance raised its holdings in Datadog by 13.6% in the 1st quarter. Covea Finance now owns 33,400 shares of the company’s stock worth $3,314,000 after acquiring an additional 4,000 shares during the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Datadog news, COO Adam Blitzer sold 15,603 shares of Datadog stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $116.84, for a total value of $1,823,054.52. Following the sale, the chief operating officer now directly owns 212,969 shares in the company, valued at approximately $24,883,297.96. The trade was a 6.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO David M. Obstler sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $130.25, for a total value of $1,953,750.00. Following the transaction, the chief financial officer now owns 399,270 shares of the company’s stock, valued at approximately $52,004,917.50. The trade was a 3.62% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 777,966 shares of company stock worth $87,512,075. 8.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on the company. Bank of America increased their target price on Datadog from $138.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, June 18th. BTIG Research set a $136.00 price objective on Datadog and gave the stock a “buy” rating in a report on Tuesday, May 6th. Scotiabank set a $130.00 target price on Datadog and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. UBS Group raised their price target on shares of Datadog from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, June 11th. Finally, Needham & Company LLC set a $140.00 price target on shares of Datadog and gave the stock a “buy” rating in a research note on Thursday, June 12th. Six investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.52.

Datadog Stock Performance

Shares of NASDAQ DDOG opened at $129.52 on Tuesday. The stock has a market cap of $44.73 billion, a PE ratio of 281.57, a price-to-earnings-growth ratio of 70.67 and a beta of 1.01. Datadog, Inc. has a 1 year low of $81.63 and a 1 year high of $170.08. The firm has a fifty day moving average price of $112.11 and a 200-day moving average price of $121.79. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.74 and a quick ratio of 2.74.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. The business had revenue of $761.55 million during the quarter, compared to analyst estimates of $741.73 million. Datadog had a return on equity of 6.39% and a net margin of 5.85%. Datadog’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.44 EPS. Equities analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

About Datadog

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.