Datadog, Inc. (NASDAQ:DDOG) Shares Acquired by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Datadog, Inc. (NASDAQ:DDOG) by 51.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 281,000 shares of the company’s stock after purchasing an additional 95,000 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Datadog were worth $32,332,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of DDOG. Heritage Investors Management Corp acquired a new position in Datadog during the 3rd quarter worth approximately $1,157,000. Vanguard Group Inc. grew its stake in shares of Datadog by 0.6% in the first quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock worth $3,390,485,000 after purchasing an additional 171,693 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Datadog by 129.2% in the second quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock valued at $79,384,000 after buying an additional 344,431 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Datadog by 23.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,933 shares of the company’s stock valued at $19,635,000 after buying an additional 32,217 shares during the period. Finally, Plato Investment Management Ltd lifted its holdings in shares of Datadog by 1,648.8% during the first quarter. Plato Investment Management Ltd now owns 5,159 shares of the company’s stock valued at $638,000 after purchasing an additional 4,864 shares during the last quarter. 78.29% of the stock is owned by institutional investors and hedge funds.

Datadog Stock Down 4.1 %

NASDAQ:DDOG traded down $5.34 during midday trading on Friday, hitting $124.45. The company had a trading volume of 5,904,912 shares, compared to its average volume of 3,125,492. Datadog, Inc. has a 52-week low of $98.80 and a 52-week high of $138.61. The stock’s fifty day moving average price is $119.67 and its 200-day moving average price is $119.58. The company has a market capitalization of $41.96 billion, a PE ratio of 276.56, a P/E/G ratio of 23.44 and a beta of 1.10.

Datadog (NASDAQ:DDOG) last announced its earnings results on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.06. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The company had revenue of $645.28 million during the quarter, compared to analyst estimates of $624.92 million. During the same period in the previous year, the business earned $0.36 earnings per share. The firm’s quarterly revenue was up 26.7% compared to the same quarter last year. As a group, research analysts forecast that Datadog, Inc. will post 0.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Sanford C. Bernstein lowered their price objective on Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. Royal Bank of Canada restated an “outperform” rating and set a $151.00 target price on shares of Datadog in a research report on Friday, August 9th. UBS Group reaffirmed an “underperform” rating on shares of Datadog in a report on Friday, October 18th. Rosenblatt Securities lifted their price objective on Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday. Finally, BTIG Research upgraded Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price target on the stock in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $150.96.

Insider Buying and Selling

In other Datadog news, Director Matthew Jacobson sold 9,256 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the completion of the sale, the director now directly owns 48,411 shares in the company, valued at $5,230,808.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $111.66, for a total transaction of $14,192,544.30. Following the completion of the sale, the chief technology officer now directly owns 347,684 shares in the company, valued at $38,822,395.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Matthew Jacobson sold 9,256 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the sale, the director now owns 48,411 shares of the company’s stock, valued at approximately $5,230,808.55. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 444,291 shares of company stock worth $54,154,859. Corporate insiders own 11.78% of the company’s stock.

Datadog Company 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.