Datadog (NASDAQ:DDOG) Receives “Outperform” Rating from Macquarie

Macquarie reissued their outperform rating on shares of Datadog (NASDAQ:DDOG) in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a $200.00 price target on the stock.

DDOG has been the topic of several other research reports. BMO Capital Markets raised their price target on Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. UBS Group restated an “underperform” rating on shares of Datadog in a research report on Friday, October 18th. Truist Financial lowered Datadog from a “buy” rating to a “hold” rating and decreased their price target for the company from $170.00 to $150.00 in a research report on Tuesday, January 7th. Wedbush raised Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, Rosenblatt Securities upped their price target on shares of Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Datadog presently has a consensus rating of “Moderate Buy” and an average price target of $158.10.

Datadog Stock Down 1.1 %

Shares of Datadog stock opened at $145.42 on Tuesday. Datadog has a fifty-two week low of $98.80 and a fifty-two week high of $170.08. The business has a 50-day moving average price of $146.95 and a 200 day moving average price of $130.58. The firm has a market cap of $49.40 billion, a P/E ratio of 274.38, a P/E/G ratio of 16.83 and a beta of 1.15.

Insider Activity

In related news, President Amit Agarwal sold 150,000 shares of the stock in a transaction dated 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 completion of the sale, the president now owns 214,275 shares in the company, valued at $27,005,078.25. This trade represents a 41.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Kerry Acocella sold 2,488 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $158.04, for a total value of $393,203.52. Following the sale, the general counsel now owns 68,758 shares in the company, valued at approximately $10,866,514.32. This trade represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 777,586 shares of company stock worth $111,444,979. Corporate insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

A number of institutional investors and hedge funds have recently made changes to their positions in DDOG. Jennison Associates LLC raised its stake in shares of Datadog by 47.9% during the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock worth $1,325,826,000 after buying an additional 3,005,300 shares during the last quarter. Baillie Gifford & Co. lifted its stake in Datadog by 15.8% in the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock valued at $1,558,234,000 after acquiring an additional 1,484,562 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in Datadog in the 4th quarter valued at $173,163,000. Holocene Advisors LP grew its stake in Datadog by 205.2% in the third quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock valued at $187,878,000 after purchasing an additional 1,097,815 shares in the last quarter. Finally, Champlain Investment Partners LLC bought a new position in Datadog during the third quarter worth about $52,561,000. Institutional investors own 78.29% of the company’s stock.

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.