Maryland State Retirement & Pension System Sells 1,162 Shares of Datadog, Inc. (NASDAQ:DDOG)

Maryland State Retirement & Pension System decreased its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 6.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 15,961 shares of the company’s stock after selling 1,162 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Datadog were worth $2,281,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. True Wealth Design LLC raised its position in shares of Datadog by 12,000.0% during the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after buying an additional 240 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new position in shares of Datadog in the fourth quarter valued at $30,000. Avior Wealth Management LLC boosted its stake in Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after buying an additional 81 shares during the period. Meeder Asset Management Inc. boosted its stake in Datadog by 66.5% during the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after buying an additional 115 shares during the period. Finally, Quarry LP purchased a new position in Datadog during the third quarter worth $33,000. Institutional investors own 78.29% of the company’s stock.

Datadog Price Performance

Shares of DDOG stock opened at $103.17 on Friday. The business’s fifty day moving average price is $127.67 and its 200 day moving average price is $130.80. Datadog, Inc. has a 1-year low of $98.30 and a 1-year high of $170.08. The firm has a market capitalization of $35.36 billion, a PE ratio of 202.30, a P/E/G ratio of 44.03 and a beta of 1.22.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. Equities research analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Datadog

In other Datadog news, CEO Olivier Pomel sold 11,195 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $139.86, for a total value of $1,565,732.70. Following the sale, the chief executive officer now owns 379,693 shares of the company’s stock, valued at approximately $53,103,862.98. This represents a 2.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $102.15, for a total value of $12,983,775.75. Following the completion of the sale, the chief technology officer now directly owns 371,865 shares in the company, valued at $37,986,009.75. This trade represents a 25.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 626,412 shares of company stock valued at $79,144,334. Insiders own 11.78% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DDOG. Wells Fargo & Company downgraded Datadog from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $152.00 to $140.00 in a research report on Thursday, February 13th. Cantor Fitzgerald started coverage on shares of Datadog in a report on Friday, January 17th. They issued an “overweight” rating and a $180.00 target price for the company. Royal Bank of Canada boosted their target price on shares of Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Morgan Stanley restated an “equal weight” rating and set a $143.00 price target on shares of Datadog in a research note on Thursday, January 16th. Finally, Citigroup dropped their price target on Datadog from $170.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $158.70.

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.