Datadog (NASDAQ:DDOG) Coverage Initiated by Analysts at Macquarie

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

DDOG has been the subject of several other reports. Sanford C. Bernstein cut their target price on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Monday, October 21st. DA Davidson lifted their price objective on shares of Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a report on Friday, November 8th. BMO Capital Markets increased their target price on shares of Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Monness Crespi & Hardt raised Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a report on Thursday, November 7th. Finally, Wedbush raised shares of Datadog from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Datadog presently has an average rating of “Moderate Buy” and an average target price of $155.07.

Datadog Stock Up 0.3 %

Datadog stock opened at $157.24 on Thursday. The business’s 50-day moving average price is $136.12 and its 200 day moving average price is $123.67. The firm has a market cap of $53.42 billion, a price-to-earnings ratio of 295.72, 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 Buying and Selling

In other news, CFO David M. Obstler sold 33,333 shares of the stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $125.70, for a total transaction of $4,189,958.10. Following the sale, the chief financial officer now owns 314,158 shares of the company’s stock, valued at approximately $39,489,660.60. This represents a 9.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Olivier Pomel sold 85,637 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $122.61, for a total transaction of $10,499,952.57. Following the completion of the transaction, the chief executive officer now directly owns 392,111 shares of the company’s stock, valued at $48,076,729.71. This represents a 17.93 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 713,446 shares of company stock worth $97,145,034. Company insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DDOG. Los Angeles Capital Management LLC boosted its stake in shares of Datadog by 172.2% in the 3rd 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 acquired a new stake in Datadog in the third quarter valued at $1,157,000. Atom Investors LP purchased a new stake in Datadog during the 3rd quarter worth about $1,112,000. Jennison Associates LLC boosted its position in shares of Datadog by 2.1% during the 3rd quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock worth $721,811,000 after acquiring an additional 126,613 shares in the last quarter. Finally, Parnassus Investments LLC increased its holdings in shares of Datadog by 28.4% in the 3rd quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock valued at $21,324,000 after acquiring an additional 40,952 shares during the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

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.