State of New Jersey Common Pension Fund D Has $13.19 Million Holdings in Datadog, Inc. (NASDAQ:DDOG)

State of New Jersey Common Pension Fund D lowered its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 34.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,723 shares of the company’s stock after selling 53,742 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Datadog were worth $13,192,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Riverview Trust Co acquired a new stake in shares of Datadog during the first quarter valued at approximately $26,000. SouthState Corp acquired a new stake in shares of Datadog during the second quarter valued at approximately $26,000. Raleigh Capital Management Inc. acquired 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 Datadog during the fourth quarter valued at approximately $33,000. Finally, Quest Partners LLC purchased a new position in Datadog during the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

Analyst Ratings Changes

DDOG has been the topic of a number of research analyst reports. BTIG Research raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective on the stock in a research report on Thursday, August 1st. Scotiabank lowered their price objective on shares of Datadog from $145.00 to $135.00 and set a “sector outperform” rating on the stock in a research report on Friday, August 9th. Needham & Company LLC lowered their price objective on shares of Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. UBS Group boosted their price objective on shares of Datadog from $120.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. Finally, Barclays lowered their price objective on shares of Datadog from $145.00 to $140.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Datadog currently has a consensus rating of “Moderate Buy” and an average target price of $139.88.

Insider Buying and Selling at Datadog

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $130.75, for a total value of $16,618,978.75. Following the completion of the sale, the chief technology officer now directly owns 279,025 shares of the company’s stock, valued at approximately $36,482,518.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $130.75, for a total transaction of $16,618,978.75. Following the completion of the transaction, the chief technology officer now directly owns 279,025 shares of the company’s stock, valued at approximately $36,482,518.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Madre Armelle De sold 1,749 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $125.00, for a total transaction of $218,625.00. Following the transaction, the insider now directly owns 92,025 shares of the company’s stock, valued at $11,503,125. The disclosure for this sale can be found here. Insiders sold a total of 561,997 shares of company stock valued at $68,517,631 in the last ninety days. Company insiders own 11.78% of the company’s stock.

Datadog Price Performance

Shares of Datadog stock opened at $109.26 on Friday. Datadog, Inc. has a fifty-two week low of $77.81 and a fifty-two week high of $138.61. The firm has a fifty day moving average price of $116.11 and a two-hundred day moving average price of $120.23. The company has a market cap of $36.55 billion, a PE ratio of 341.44, a price-to-earnings-growth ratio of 27.84 and a beta of 1.11.

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