Thrivent Financial for Lutherans Decreases Stake in Datadog, Inc. (NASDAQ:DDOG)

Thrivent Financial for Lutherans cut its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 7.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 723,134 shares of the company’s stock after selling 62,127 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Datadog were worth $83,204,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of DDOG. Los Angeles Capital Management LLC boosted its holdings in shares of Datadog by 172.2% in the third quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock worth $4,469,000 after acquiring an additional 24,574 shares during the period. Heritage Investors Management Corp bought a new position in shares of Datadog in the third quarter valued at approximately $1,157,000. Bank of Montreal Can grew its position in shares of Datadog by 129.2% during the 2nd quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock valued at $79,384,000 after purchasing an additional 344,431 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Datadog by 23.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,933 shares of the company’s stock worth $19,635,000 after buying an additional 32,217 shares in the last quarter. Finally, Future Fund LLC bought a new position in Datadog in the 3rd quarter worth about $1,141,000. 78.29% of the stock is owned by institutional investors.

Datadog Stock Down 4.1 %

Shares of Datadog stock opened at $126.09 on Monday. The company has a market cap of $42.84 billion, a PE ratio of 237.91, a P/E/G ratio of 18.85 and a beta of 1.10. The business has a 50 day moving average of $121.23 and a 200 day moving average of $119.44. Datadog, Inc. has a 52 week low of $98.80 and a 52 week high of $138.61.

Insiders Place Their Bets

In other Datadog news, Director Matthew Jacobson sold 9,256 shares of Datadog stock in a transaction that occurred on 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 directly owns 48,411 shares of the company’s stock, valued at approximately $5,230,808.55. The trade was a 16.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Olivier Pomel sold 85,637 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $122.61, for a total value of $10,499,952.57. Following the transaction, the chief executive officer now owns 392,111 shares in the company, valued at $48,076,729.71. This trade represents a 17.93 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 320,579 shares of company stock worth $40,386,541. 11.78% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on DDOG shares. TD Cowen raised their target price on shares of Datadog from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Rosenblatt Securities raised their price objective on shares of Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $150.00 target price on shares of Datadog in a research report on Monday, July 22nd. BNP Paribas assumed coverage on Datadog in a research report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price target on the stock. Finally, Robert W. Baird upped their price objective on Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. One investment 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, Datadog currently has an average rating of “Moderate Buy” and a consensus price target of $150.96.

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.