Datadog’s (DDOG) Equal Weight Rating Reaffirmed at Morgan Stanley

Morgan Stanley reaffirmed their equal weight rating on shares of Datadog (NASDAQ:DDOG) in a research report released on Thursday, Marketbeat reports. The firm currently has a $143.00 price objective on the stock.

DDOG has been the subject of several other reports. BMO Capital Markets increased their target price on Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Barclays increased their target price on Datadog from $155.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Scotiabank dropped their target price on Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. Robert W. Baird increased their price target on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Sanford C. Bernstein decreased their price target on Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $156.97.

Datadog Trading Down 3.0 %

Datadog stock opened at $136.79 on Thursday. The company has a market capitalization of $46.47 billion, a PE ratio of 258.10, a P/E/G ratio of 16.31 and a beta of 1.14. Datadog has a 12 month low of $98.80 and a 12 month high of $170.08. The stock has a 50-day moving average price of $145.61 and a two-hundred day moving average price of $128.51.

Insiders Place Their Bets

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total value of $17,948,497.05. Following the completion of the sale, the chief technology officer now directly owns 324,778 shares of the company’s stock, valued at $45,861,901.38. This trade represents a 28.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Amit Agarwal sold 25,000 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $141.12, for a total value of $3,528,000.00. Following the completion of the sale, the director now directly owns 195,667 shares of the company’s stock, valued at $27,612,527.04. This represents a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 609,763 shares of company stock valued at $87,543,649 over the last ninety days. 11.78% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Datadog

Several hedge funds have recently made changes to their positions in the stock. Jennison Associates LLC grew its position 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 valued at $721,811,000 after purchasing an additional 126,613 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Datadog by 2.5% in the third quarter. Geode Capital Management LLC now owns 5,185,557 shares of the company’s stock valued at $595,438,000 after purchasing an additional 125,457 shares in the last quarter. 1832 Asset Management L.P. grew its position in shares of Datadog by 5.9% in the second quarter. 1832 Asset Management L.P. now owns 2,486,600 shares of the company’s stock valued at $322,487,000 after purchasing an additional 138,700 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Datadog by 2.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,024,926 shares of the company’s stock valued at $232,988,000 after purchasing an additional 46,746 shares in the last quarter. Finally, Holocene Advisors LP grew its position in shares of 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. 78.29% of the stock is currently owned by hedge funds and other 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.