Phoenix Holdings Ltd. Buys New Shares in Datadog, Inc. (NASDAQ:DDOG)
Phoenix Holdings Ltd. bought a new stake in shares of Datadog, Inc. (NASDAQ:DDOG) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 2,687 shares of the company’s stock, valued at approximately $230,000.
Other large investors also recently added to or reduced their stakes in the company. Freestone Capital Holdings LLC acquired a new position in shares of Datadog in the 3rd quarter valued at $26,000. Glassman Wealth Services raised its stake in shares of Datadog by 74.5% in the 2nd quarter. Glassman Wealth Services now owns 349 shares of the company’s stock valued at $30,000 after buying an additional 149 shares in the last quarter. Captrust Financial Advisors acquired a new position in shares of Datadog in the 2nd quarter valued at $36,000. US Bancorp DE acquired a new position in shares of Datadog in the 2nd quarter valued at $38,000. Finally, Nisa Investment Advisors LLC acquired a new position in shares of Datadog in the 3rd quarter valued at $41,000. Hedge funds and other institutional investors own 41.21% of the company’s stock.
DDOG has been the subject of a number of recent research reports. ValuEngine cut shares of Datadog from a “buy” rating to a “hold” rating in a research note on Monday, September 21st. Zacks Investment Research lowered shares of Datadog from a “hold” rating to a “sell” rating in a report on Wednesday, November 11th. Berenberg Bank assumed coverage on shares of Datadog in a report on Wednesday, October 7th. They issued a “hold” rating and a $103.00 target price on the stock. Royal Bank of Canada reaffirmed a “hold” rating on shares of Datadog in a report on Thursday, August 13th. Finally, Robert W. Baird assumed coverage on shares of Datadog in a report on Thursday, September 24th. They issued a “neutral” rating and a $92.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $96.00.
Datadog (NASDAQ:DDOG) last issued its earnings results on Tuesday, November 10th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. The company had revenue of $154.70 million for the quarter, compared to analyst estimates of $144.33 million. Datadog had a negative net margin of 1.39% and a positive return on equity of 0.38%. The company’s revenue for the quarter was up 61.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Datadog, Inc. will post -0.02 earnings per share for the current fiscal year.
In related news, insider Amit Agarwal sold 12,500 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $85.41, for a total value of $1,067,625.00. Following the sale, the insider now directly owns 134,262 shares in the company, valued at approximately $11,467,317.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David M. Obstler sold 35,000 shares of the stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $81.98, for a total transaction of $2,869,300.00. Following the completion of the sale, the chief financial officer now owns 208,716 shares in the company, valued at $17,110,537.68. The disclosure for this sale can be found here. Insiders sold a total of 1,302,451 shares of company stock worth $131,236,327 in the last ninety days. Insiders own 26.06% of the company’s stock.
Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. The company's SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, and log management to provide real-time observability of customers technology stack.
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