Migdal Insurance & Financial Holdings Ltd. Reduces Position in Datadog, Inc. (NASDAQ:DDOG)

Migdal Insurance & Financial Holdings Ltd. lessened its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 57.3% during the 4th quarter, HoldingsChannel reports. The fund owned 120,000 shares of the company’s stock after selling 161,000 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Datadog were worth $17,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Jennison Associates LLC raised its position in shares of Datadog by 47.9% during the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after purchasing an additional 3,005,300 shares during the period. Geode Capital Management LLC raised its position in shares of Datadog by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,185,557 shares of the company’s stock valued at $595,438,000 after purchasing an additional 125,457 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Datadog by 2.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,024,926 shares of the company’s stock valued at $232,988,000 after purchasing an additional 46,746 shares during the period. Holocene Advisors LP raised its position in shares of Datadog by 205.2% during the 3rd quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock valued at $187,878,000 after purchasing an additional 1,097,815 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Datadog by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,176,577 shares of the company’s stock valued at $135,377,000 after purchasing an additional 29,404 shares during the period. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Analyst Upgrades and Downgrades

DDOG has been the topic of several recent analyst reports. Scotiabank decreased their price objective on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. Jefferies Financial Group raised their price objective on shares of Datadog from $155.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Citigroup lifted their price target on shares of Datadog from $157.00 to $170.00 and gave the company a “buy” rating in a report on Friday, January 17th. Stifel Nicolaus cut shares of Datadog from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $165.00 to $140.00 in a research note on Wednesday, January 29th. Finally, Monness Crespi & Hardt raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Datadog presently has an average rating of “Moderate Buy” and a consensus target price of $157.59.

Insider Transactions at Datadog

In other news, Director Matthew Jacobson sold 3,393 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $125.03, for a total value of $424,226.79. Following the sale, the director now owns 695,086 shares in the company, valued at $86,906,602.58. This represents a 0.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $142.78, for a total value of $18,148,051.90. Following the completion of the sale, the chief technology officer now owns 324,778 shares in the company, valued at $46,371,802.84. The trade was a 28.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 780,979 shares of company stock worth $111,869,206 over the last quarter. 11.78% of the stock is currently owned by insiders.

Datadog Stock Performance

Shares of DDOG stock opened at $144.85 on Friday. The stock’s 50-day simple moving average is $147.41 and its 200-day simple moving average is $130.00. The firm has a market capitalization of $49.21 billion, a PE ratio of 273.31, a P/E/G ratio of 16.59 and a beta of 1.15. Datadog, Inc. has a fifty-two week low of $98.80 and a fifty-two week high of $170.08.

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.