Datadog (NASDAQ:DDOG) Cut to “Hold” at Truist Financial

Truist Financial cut shares of Datadog (NASDAQ:DDOG) from a buy rating to a hold rating in a research note released on Tuesday, MarketBeat reports. They currently have $150.00 price objective on the stock, down from their previous price objective of $170.00.

A number of other research firms also recently issued reports on DDOG. Scotiabank cut their price target on Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Friday, November 8th. Wedbush raised Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Sanford C. Bernstein lowered their price target on Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. TD Cowen reaffirmed a “buy” rating and set a $165.00 price objective on shares of Datadog in a report on Tuesday, November 19th. Finally, Royal Bank of Canada upped their target price on shares of Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $157.46.

Datadog Price Performance

Shares of NASDAQ DDOG opened at $141.88 on Tuesday. The company has a 50-day moving average price of $144.49 and a 200-day moving average price of $128.04. The stock has a market capitalization of $48.20 billion, a P/E ratio of 267.70, a P/E/G ratio of 20.27 and a beta of 1.14. Datadog has a 1 year low of $98.80 and a 1 year high of $170.08.

Insider Buying and Selling at Datadog

In related news, President Amit Agarwal sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $147.99, for a total transaction of $3,699,750.00. Following the completion of the transaction, the president now owns 195,667 shares of the company’s stock, valued at approximately $28,956,759.33. The trade was a 11.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $129.33, for a total transaction of $16,438,489.65. Following the completion of the sale, the chief technology officer now owns 336,165 shares in the company, valued at $43,476,219.45. This represents a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 592,679 shares of company stock valued at $83,508,362 in the last 90 days. 11.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DDOG. National Bank of Canada FI increased its stake in Datadog by 12.4% in the 2nd quarter. National Bank of Canada FI now owns 29,420 shares of the company’s stock worth $3,839,000 after acquiring an additional 3,254 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Datadog by 1.5% in the second quarter. Victory Capital Management Inc. now owns 235,293 shares of the company’s stock worth $30,515,000 after purchasing an additional 3,543 shares during the last quarter. Private Advisor Group LLC raised its stake in Datadog by 0.7% in the second quarter. Private Advisor Group LLC now owns 28,874 shares of the company’s stock valued at $3,745,000 after purchasing an additional 187 shares in the last quarter. Acadian Asset Management LLC lifted its position in Datadog by 472.8% during the second quarter. Acadian Asset Management LLC now owns 81,228 shares of the company’s stock valued at $10,528,000 after purchasing an additional 67,048 shares during the last quarter. Finally, Caprock Group LLC grew its stake in Datadog by 59.2% in the 2nd quarter. Caprock Group LLC now owns 4,107 shares of the company’s stock worth $533,000 after buying an additional 1,528 shares in the last quarter. Institutional investors 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.