Migdal Insurance & Financial Holdings Ltd. Purchases 95,000 Shares of Datadog, Inc. (NASDAQ:DDOG)

Migdal Insurance & Financial Holdings Ltd. lifted its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 51.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 281,000 shares of the company's stock after purchasing an additional 95,000 shares during the period. Migdal Insurance & Financial Holdings Ltd. owned 0.08% of Datadog worth $32,332,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of DDOG. SouthState Corp bought a new position in shares of Datadog in the 2nd quarter valued at about $26,000. Blue Trust Inc. acquired a new position in shares of Datadog in the 2nd quarter valued at $37,000. EverSource Wealth Advisors LLC boosted its position in shares of Datadog by 70.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company's stock worth $39,000 after purchasing an additional 127 shares during the last quarter. American National Bank & Trust acquired a new stake in shares of Datadog during the third quarter worth $39,000. Finally, Versant Capital Management Inc grew its stake in shares of Datadog by 216.5% during the second quarter. Versant Capital Management Inc now owns 307 shares of the company's stock worth $40,000 after purchasing an additional 210 shares during the period. Institutional investors own 78.29% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Sanford C. Bernstein reduced their target price on Datadog from $157.00 to $151.00 and set an "outperform" rating on the stock in a report on Monday, October 21st. Mizuho raised shares of Datadog from a "neutral" rating to an "outperform" rating and upped their target price for the company from $135.00 to $155.00 in a research note on Tuesday, July 16th. BNP Paribas assumed coverage on shares of Datadog in a report on Tuesday, October 8th. They issued an "outperform" rating and a $150.00 price target for the company. Wedbush upgraded shares of Datadog from a "buy" rating to a "strong-buy" rating in a research report on Thursday, October 17th. Finally, Barclays lifted their target price on Datadog from $140.00 to $155.00 and gave the stock an "overweight" rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $150.96.

Datadog Stock Performance

DDOG traded down $5.34 on Friday, hitting $124.45. 5,904,912 shares of the company were exchanged, compared to its average volume of 3,125,492. The stock's fifty day moving average is $119.67 and its 200-day moving average is $119.53. Datadog, Inc. has a 12 month low of $98.80 and a 12 month high of $138.61. The company has a market cap of $41.96 billion, a PE ratio of 234.81, a PEG ratio of 23.44 and a beta of 1.10.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.06. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The company had revenue of $645.28 million for the quarter, compared to analysts' expectations of $624.92 million. During the same quarter in the prior year, the business posted $0.36 EPS. The business's revenue was up 26.7% compared to the same quarter last year. As a group, equities research analysts expect that Datadog, Inc. will post 0.42 EPS for the current fiscal year.

Insider Buying and Selling at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the business'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 transaction, the chief technology officer now directly owns 347,684 shares in the company, valued at $38,822,395.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO David M. Obstler sold 33,333 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $130.39, for a total value of $4,346,289.87. Following the sale, the chief financial officer now owns 314,158 shares in the company, valued at approximately $40,963,061.62. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing 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 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 transaction, the chief technology officer now owns 347,684 shares in the company, valued at approximately $38,822,395.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 444,291 shares of company stock worth $54,154,859 over the last quarter. 11.78% of the stock is currently owned by insiders.

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.