Datadog (NASDAQ:DDOG) Now Covered by Macquarie

Macquarie started coverage on shares of Datadog (NASDAQ:DDOG) in a research note published on Thursday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $200.00 price objective on the stock.

A number of other research firms have also recently issued reports on DDOG. Citigroup upped their price objective on shares of Datadog from $150.00 to $157.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Sanford C. Bernstein reduced their price objective on Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Barclays lifted their price target on Datadog from $155.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Rosenblatt Securities upped their price objective on Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Scotiabank cut their target price 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. One analyst has rated the stock with a sell rating, one has issued 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, Datadog has a consensus rating of “Moderate Buy” and an average target price of $155.07.

Datadog Stock Performance

Datadog stock opened at $153.03 on Thursday. The stock has a fifty day moving average of $136.72 and a 200-day moving average of $123.89. The stock has a market capitalization of $51.99 billion, a P/E ratio of 288.74, a price-to-earnings-growth ratio of 20.27 and a beta of 1.11. Datadog has a 52 week low of $98.80 and a 52 week high of $170.08.

Insider Transactions at Datadog

In other Datadog news, CEO Olivier Pomel sold 178,723 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $161.28, for a total value of $28,824,445.44. Following the transaction, the chief executive officer now directly owns 379,693 shares in the company, valued at $61,236,887.04. The trade was a 32.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Kerry Acocella sold 2,488 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $158.04, for a total value of $393,203.52. Following the completion of the transaction, the general counsel now owns 68,758 shares in the company, valued at approximately $10,866,514.32. The trade was a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 713,446 shares of company stock worth $97,145,034 in the last ninety days. Company insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

A number of hedge funds and other institutional investors have recently made changes to their positions in DDOG. Los Angeles Capital Management LLC increased its position in shares of Datadog by 172.2% during the third quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock valued at $4,469,000 after buying an additional 24,574 shares during the period. Heritage Investors Management Corp purchased a new stake in Datadog in the 3rd quarter worth approximately $1,157,000. Atom Investors LP purchased a new position in shares of Datadog during the 3rd quarter valued at $1,112,000. Jennison Associates LLC increased its holdings in shares of Datadog by 2.1% in the third quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock worth $721,811,000 after purchasing an additional 126,613 shares during the period. Finally, Parnassus Investments LLC boosted its stake in Datadog by 28.4% during the third quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock valued at $21,324,000 after buying an additional 40,952 shares during the period. 78.29% of the stock is currently owned by institutional investors.

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.