Datadog (NASDAQ:DDOG) Cut to “Hold” at Truist Financial

Datadog (NASDAQ:DDOG) was downgraded by research analysts at Truist Financial from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday,Finviz reports. They currently have a $150.00 price target on the stock, down from their prior price target of $170.00. Truist Financial’s price objective would indicate a potential upside of 2.71% from the stock’s current price.

A number of other research firms have also commented on DDOG. Barclays raised their price objective on shares of Datadog from $155.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Monness Crespi & Hardt upgraded Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a report on Thursday, November 7th. Wedbush raised Datadog from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Robert W. Baird lifted their target price on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Rosenblatt Securities increased their price target on shares of Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.46.

Datadog Trading Up 0.8 %

DDOG stock opened at $146.04 on Tuesday. The firm has a 50-day moving average of $143.63 and a two-hundred day moving average of $127.68. The firm has a market capitalization of $49.61 billion, a PE ratio of 275.55, a P/E/G ratio of 20.27 and a beta of 1.14. Datadog has a one year low of $98.80 and a one year high of $170.08.

Insiders Place Their Bets

In other Datadog news, CEO Olivier Pomel sold 178,723 shares of Datadog stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $161.28, for a total value of $28,824,445.44. Following the transaction, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at $61,236,887.04. The trade was a 32.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Amit Agarwal sold 150,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $126.03, for a total value of $18,904,500.00. Following the transaction, the president now owns 214,275 shares of the company’s stock, valued at approximately $27,005,078.25. This trade represents a 41.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 626,012 shares of company stock valued at $87,854,652 in the last quarter. Insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. National Bank of Canada FI raised its holdings in Datadog by 12.4% in the 2nd quarter. National Bank of Canada FI now owns 29,420 shares of the company’s stock valued at $3,839,000 after acquiring an additional 3,254 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Datadog by 1.5% in the second quarter. Victory Capital Management Inc. now owns 235,293 shares of the company’s stock valued at $30,515,000 after purchasing an additional 3,543 shares in the last quarter. Private Advisor Group LLC lifted its position in Datadog by 0.7% in the second quarter. Private Advisor Group LLC now owns 28,874 shares of the company’s stock worth $3,745,000 after purchasing an additional 187 shares during the period. Acadian Asset Management LLC lifted its position in Datadog by 472.8% in the second quarter. Acadian Asset Management LLC now owns 81,228 shares of the company’s stock worth $10,528,000 after purchasing an additional 67,048 shares during the period. Finally, Caprock Group LLC boosted its stake in Datadog by 59.2% during the second quarter. Caprock Group LLC now owns 4,107 shares of the company’s stock worth $533,000 after buying an additional 1,528 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.