Datadog (NASDAQ:DDOG) Lowered to Hold Rating by Truist Financial

Truist Financial downgraded shares of Datadog (NASDAQ:DDOG) from a buy rating to a hold rating in a research note published on Tuesday morning, MarketBeat Ratings reports. They currently have $150.00 price objective on the stock, down from their prior price objective of $170.00.

A number of other equities analysts also recently commented on the stock. Jefferies Financial Group raised their target price on shares of Datadog from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Monday. BNP Paribas began coverage on Datadog in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 price objective on the stock. Sanford C. Bernstein decreased their target price on Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. Wedbush upgraded Datadog from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada boosted their price target on Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have given 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, the company has an average rating of “Moderate Buy” and a consensus target price of $157.46.

Datadog Stock Performance

DDOG opened at $141.40 on Tuesday. Datadog has a 1 year low of $98.80 and a 1 year high of $170.08. The firm has a 50 day moving average price of $143.88 and a 200 day moving average price of $127.84. The company has a market cap of $48.04 billion, a PE ratio of 266.80, a price-to-earnings-growth ratio of 20.27 and a beta of 1.14.

Insider Buying and Selling at Datadog

In related news, CEO Olivier Pomel sold 178,723 shares of Datadog 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 sale, the chief executive officer now directly owns 379,693 shares in the company, valued at $61,236,887.04. This trade represents a 32.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Matthew Jacobson sold 3,393 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $125.03, for a total transaction of $424,226.79. Following the completion of the transaction, the director now owns 695,086 shares of the company’s stock, valued at approximately $86,906,602.58. This trade represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 626,012 shares of company stock worth $87,854,652 over the last ninety days. Company insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

Several hedge funds and other institutional investors have recently made changes to their positions in DDOG. Jennison Associates LLC increased its position in Datadog by 2.1% in the 3rd quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock valued at $721,811,000 after acquiring an additional 126,613 shares during the period. Geode Capital Management LLC increased its holdings in shares of 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 period. Massachusetts Financial Services Co. MA raised its stake in shares of Datadog by 9.2% during 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. lifted its holdings in Datadog by 5.9% in the second 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 period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Datadog by 2.4% in 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 valued at $232,988,000 after buying an additional 46,746 shares in the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

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.