Datadog (NASDAQ:DDOG) Receives Equal Weight Rating from Morgan Stanley

Datadog (NASDAQ:DDOG)‘s stock had its “equal weight” rating reaffirmed by Morgan Stanley in a research report issued on Thursday,Benzinga reports. They currently have a $143.00 price objective on the stock. Morgan Stanley’s price objective would suggest a potential upside of 1.45% from the company’s previous close.

DDOG has been the subject of several other reports. Truist Financial downgraded Datadog from a “buy” rating to a “hold” rating and lowered their price target for the company from $170.00 to $150.00 in a report on Tuesday, January 7th. Barclays raised their target price on Datadog from $155.00 to $187.00 and gave the company an “overweight” rating in a report on Friday, December 6th. 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 report on Monday, October 21st. Jefferies Financial Group lifted their price objective on shares of Datadog from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Royal Bank of Canada upped their target price on shares of Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $156.97.

Datadog Stock Up 1.3 %

DDOG opened at $140.95 on Thursday. The company has a 50 day moving average of $145.36 and a two-hundred day moving average of $128.42. Datadog has a 52-week low of $98.80 and a 52-week high of $170.08. The company has a market cap of $47.88 billion, a P/E ratio of 265.95, a P/E/G ratio of 19.82 and a beta of 1.14.

Insider Buying and Selling

In other news, CFO David M. Obstler sold 33,334 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $135.95, for a total transaction of $4,531,757.30. Following the completion of the transaction, the chief financial officer now owns 314,158 shares of the company’s stock, valued at approximately $42,709,780.10. The trade was a 9.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Olivier Pomel sold 178,723 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the completion of the sale, the chief executive officer now directly owns 379,693 shares in the company, valued at approximately $61,236,887.04. This trade represents a 32.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 609,763 shares of company stock worth $87,543,649 over the last quarter. 11.78% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. True Wealth Design LLC raised its holdings in shares of Datadog by 12,000.0% during the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after buying an additional 240 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new stake in Datadog in the 4th quarter valued at approximately $30,000. Meeder Asset Management Inc. increased its position in Datadog by 66.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after acquiring an additional 115 shares during the period. Quarry LP bought a new stake in Datadog during the 3rd quarter valued at $33,000. Finally, American National Bank & Trust acquired a new position in Datadog during the 3rd quarter worth $39,000. 78.29% of the stock is owned by institutional investors and hedge funds.

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.