Datadog (NASDAQ:DDOG) Research Coverage Started at Macquarie

Macquarie assumed coverage on shares of Datadog (NASDAQ:DDOG) in a research report released on Thursday morning, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $200.00 target price on the stock.

Several other research firms have also weighed in on DDOG. BMO Capital Markets upped their price objective on shares of Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Sanford C. Bernstein cut their price objective on Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Monday, October 21st. UBS Group restated an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. Barclays lifted their price target on Datadog from $155.00 to $187.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, Robert W. Baird increased 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 analyst has rated the stock with a sell rating, one has given a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $155.07.

Datadog Price Performance

NASDAQ:DDOG opened at $153.03 on Thursday. The stock’s 50-day moving average is $136.72 and its two-hundred day moving average is $123.89. The stock has a market cap of $51.99 billion, a PE ratio of 288.74, a price-to-earnings-growth ratio of 20.27 and a beta of 1.11. Datadog has a fifty-two week low of $98.80 and a fifty-two week high of $170.08.

Insider Transactions at Datadog

In related news, President Amit Agarwal sold 150,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $126.03, for a total transaction of $18,904,500.00. Following the transaction, the president now directly owns 214,275 shares in the company, valued at approximately $27,005,078.25. The trade was a 41.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Olivier Pomel sold 178,723 shares of Datadog stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the completion of the transaction, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at approximately $61,236,887.04. This trade represents a 32.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 713,446 shares of company stock worth $97,145,034 in the last three months. Insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC increased its stake in shares of Datadog by 15.6% during the second quarter. Sequoia Financial Advisors LLC now owns 2,467 shares of the company’s stock worth $320,000 after purchasing an additional 333 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Datadog in the second quarter valued at about $92,000. ORG Partners LLC acquired a new position in shares of Datadog in the second quarter valued at about $43,000. Swedbank AB raised its stake in Datadog by 2.6% in the 2nd quarter. Swedbank AB now owns 107,229 shares of the company’s stock worth $13,907,000 after purchasing an additional 2,759 shares in the last quarter. Finally, Blue Trust Inc. bought a new stake in Datadog in the 2nd quarter valued at about $37,000. Institutional investors and hedge funds own 78.29% 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.