Louisiana State Employees Retirement System Buys 500 Shares of Datadog, Inc. (NASDAQ:DDOG)

Louisiana State Employees Retirement System raised its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 2.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,500 shares of the company’s stock after purchasing an additional 500 shares during the period. Louisiana State Employees Retirement System’s holdings in Datadog were worth $3,177,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Riverview Trust Co bought a new stake in shares of Datadog in the 1st quarter valued at about $26,000. Raleigh Capital Management Inc. bought a new position in shares of Datadog in the 4th quarter worth $29,000. Jones Financial Companies Lllp purchased a new stake in shares of Datadog during the 4th quarter worth $33,000. Quest Partners LLC purchased a new position in Datadog in the fourth quarter valued at about $36,000. Finally, Blue Trust Inc. bought a new position in Datadog in the second quarter worth about $37,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Datadog

In other Datadog news, insider Madre Armelle De sold 4,442 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $109.45, for a total value of $486,176.90. Following the sale, the insider now directly owns 95,523 shares of the company’s stock, valued at $10,454,992.35. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Datadog news, insider Madre Armelle De sold 4,442 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $109.45, for a total transaction of $486,176.90. Following the transaction, the insider now directly owns 95,523 shares of the company’s stock, valued at $10,454,992.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Kerry Acocella sold 1,846 shares of Datadog stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $120.28, for a total transaction of $222,036.88. Following the completion of the sale, the general counsel now owns 80,084 shares in the company, valued at approximately $9,632,503.52. The disclosure for this sale can be found here. Insiders sold a total of 857,006 shares of company stock worth $101,040,823 in the last 90 days. Corporate insiders own 11.78% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on DDOG shares. BTIG Research upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective for the company in a research note on Thursday, August 1st. Bank of America upgraded Datadog from a “neutral” rating to a “buy” rating and increased their price objective for the company from $143.00 to $155.00 in a report on Thursday, May 30th. Scotiabank dropped their target price on Datadog from $145.00 to $135.00 and set a “sector outperform” rating on the stock in a research note on Friday, August 9th. Robert W. Baird upgraded Datadog from a “neutral” rating to an “outperform” rating and increased their price target for the company from $130.00 to $140.00 in a research note on Wednesday, May 8th. Finally, Needham & Company LLC lowered their price target on Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $139.88.

Datadog Price Performance

Shares of NASDAQ DDOG opened at $117.23 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 3.43. The stock has a market capitalization of $39.21 billion, a price-to-earnings ratio of 366.34, a PEG ratio of 37.24 and a beta of 1.11. The firm’s 50 day simple moving average is $119.85 and its 200-day simple moving average is $122.23. Datadog, Inc. has a 12 month low of $77.81 and a 12 month high of $138.61.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.37 by $0.06. The company had revenue of $645.28 million for the quarter, compared to analyst estimates of $624.92 million. Datadog had a net margin of 5.11% and a return on equity of 7.48%. The firm’s revenue was up 26.7% on a year-over-year basis. During the same quarter last year, the business earned $0.36 earnings per share. Analysts expect that Datadog, Inc. will post 0.32 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.