Public Employees Retirement System of Ohio Sells 4,208 Shares of Datadog, Inc. (NASDAQ:DDOG)

Public Employees Retirement System of Ohio trimmed its position in Datadog, Inc. (NASDAQ:DDOG) by 3.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 125,405 shares of the company’s stock after selling 4,208 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Datadog were worth $14,429,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. increased its holdings in shares of Datadog by 7.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 123,308 shares of the company’s stock valued at $14,188,000 after acquiring an additional 8,392 shares in the last quarter. Y Intercept Hong Kong Ltd grew its position in Datadog by 11.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 22,118 shares of the company’s stock valued at $2,545,000 after purchasing an additional 2,342 shares during the period. MML Investors Services LLC grew its position in Datadog by 6.1% in the 3rd quarter. MML Investors Services LLC now owns 61,206 shares of the company’s stock valued at $7,042,000 after purchasing an additional 3,539 shares during the period. Tenere Capital LLC increased its stake in Datadog by 41.8% during the 3rd quarter. Tenere Capital LLC now owns 122,764 shares of the company’s stock valued at $14,125,000 after purchasing an additional 36,174 shares in the last quarter. Finally, Orion Portfolio Solutions LLC raised its holdings in Datadog by 11.6% during the third quarter. Orion Portfolio Solutions LLC now owns 6,974 shares of the company’s stock worth $802,000 after buying an additional 726 shares during the last quarter. 78.29% of the stock is owned by institutional investors and hedge funds.

Datadog Price Performance

Shares of DDOG opened at $154.91 on Wednesday. Datadog, Inc. has a 1 year low of $98.80 and a 1 year high of $170.08. The stock’s fifty day moving average price is $133.71 and its two-hundred day moving average price is $122.99. The firm has a market cap of $52.63 billion, a PE ratio of 292.28, a PEG ratio of 21.85 and a beta of 1.11.

Insider Activity at Datadog

In other news, CRO Sean Michael Walters sold 2,322 shares of the firm’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $125.00, for a total value of $290,250.00. Following the completion of the transaction, the executive now directly owns 183,512 shares of the company’s stock, valued at $22,939,000. This trade represents a 1.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Kerry Acocella sold 2,488 shares of Datadog stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $158.04, for a total value of $393,203.52. Following the completion of the transaction, the general counsel now owns 68,758 shares of the company’s stock, valued at approximately $10,866,514.32. This trade represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 534,723 shares of company stock worth $68,320,589. Company insiders own 11.78% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on DDOG shares. UBS Group reissued an “underperform” rating on shares of Datadog in a research report on Friday, October 18th. Scotiabank cut their price target on Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Friday, November 8th. Monness Crespi & Hardt raised Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a research note on Thursday, November 7th. Rosenblatt Securities raised their target price on Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, TD Cowen reiterated a “buy” rating and set a $165.00 price target on shares of Datadog in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $152.19.

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.