Datadog (NASDAQ:DDOG) Shares Gap Up – Time to Buy?

Shares of Datadog, Inc. (NASDAQ:DDOG) gapped up prior to trading on Friday . The stock had previously closed at $143.86, but opened at $148.50. Datadog shares last traded at $150.27, with a volume of 2,442,186 shares traded.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on DDOG shares. Sanford C. Bernstein cut their price target 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. Barclays increased their target price on Datadog from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. BTIG Research upgraded Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price target on the stock in a research note on Thursday, August 1st. DA Davidson increased their price objective on Datadog from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Needham & Company LLC reduced their target price on Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $150.96.

Datadog Stock Performance

The business’s 50 day moving average price is $123.30 and its 200-day moving average price is $119.78. The company has a market cap of $51.22 billion, a price-to-earnings ratio of 271.54, a PEG ratio of 17.46 and a beta of 1.10.

Insiders Place Their Bets

In other Datadog news, CRO Sean Michael Walters sold 2,322 shares of the company’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $125.00, for a total transaction of $290,250.00. Following the transaction, the executive now owns 183,512 shares of the company’s stock, valued at approximately $22,939,000. This represents a 1.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Olivier Pomel sold 85,637 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 392,111 shares in the company, valued at approximately $48,076,729.71. The trade was a 17.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 470,579 shares of company stock valued at $59,291,041. 11.78% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Datadog

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jennison Associates LLC boosted its position in shares of Datadog by 2.1% during the third quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock worth $721,811,000 after buying an additional 126,613 shares during the period. Geode Capital Management LLC boosted its position in Datadog by 2.5% during 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 during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Datadog by 9.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock valued at $511,620,000 after purchasing an additional 331,808 shares in the last quarter. 1832 Asset Management L.P. increased its position in shares of Datadog by 5.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,486,600 shares of the company’s stock worth $322,487,000 after purchasing an additional 138,700 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Datadog by 2.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,024,926 shares of the company’s stock worth $232,988,000 after purchasing an additional 46,746 shares in the last quarter. Institutional investors and hedge funds 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.