FUKOKU MUTUAL LIFE INSURANCE Co Raises Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

FUKOKU MUTUAL LIFE INSURANCE Co grew its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 127.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 4,464 shares of the company’s stock after purchasing an additional 2,500 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Datadog were worth $514,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in DDOG. SouthState Corp bought a new position in Datadog during the 2nd quarter valued at about $26,000. Blue Trust Inc. bought a new position in Datadog in the 2nd quarter worth $37,000. EverSource Wealth Advisors LLC lifted its position in shares of Datadog by 70.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock valued at $39,000 after buying an additional 127 shares in the last quarter. American National Bank & Trust bought a new stake in shares of Datadog during the 3rd quarter valued at $39,000. Finally, Versant Capital Management Inc lifted its position in shares of Datadog by 216.5% in the second quarter. Versant Capital Management Inc now owns 307 shares of the company’s stock valued at $40,000 after acquiring an additional 210 shares in the last quarter. 78.29% of the stock is owned by institutional investors.

Datadog Stock Up 2.3 %

Shares of DDOG stock opened at $131.43 on Friday. The stock has a 50 day moving average of $120.42 and a 200-day moving average of $119.46. Datadog, Inc. has a 12 month low of $98.80 and a 12 month high of $138.61. The firm has a market cap of $44.31 billion, a PE ratio of 247.99, a price-to-earnings-growth ratio of 19.20 and a beta of 1.10.

Analysts Set New Price Targets

A number of research firms have issued reports on DDOG. Needham & Company LLC reduced their price objective on Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Cantor Fitzgerald reissued an “overweight” rating and issued a $150.00 price objective on shares of Datadog in a research note on Monday, July 22nd. Citigroup upped their target price on Datadog from $150.00 to $157.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Scotiabank cut 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. Finally, Monness Crespi & Hardt upgraded 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, one has assigned a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Datadog has an average rating of “Moderate Buy” and an average price target of $150.96.

Insider Activity

In other Datadog news, CRO Sean Michael Walters sold 2,322 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $125.00, for a total value of $290,250.00. Following the transaction, the executive now directly owns 183,512 shares in the company, valued at $22,939,000. The trade was a 1.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $129.33, for a total value of $16,438,489.65. Following the completion of the sale, the chief technology officer now owns 336,165 shares of the company’s stock, valued at approximately $43,476,219.45. This trade represents a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 320,579 shares of company stock worth $40,386,541. Company insiders own 11.78% of the company’s stock.

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.