Datadog (NASDAQ:DDOG) Cut to “Hold” at Stifel Nicolaus

Datadog (NASDAQ:DDOG) was downgraded by investment analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, MarketBeat reports. They presently have a $140.00 target price on the stock, down from their previous target price of $165.00. Stifel Nicolaus’ target price would suggest a potential downside of 7.83% from the stock’s current price.

DDOG has been the topic of a number of other reports. UBS Group restated an “underperform” rating on shares of Datadog in a report on Friday, October 18th. TD Cowen restated a “buy” rating and issued a $165.00 price target on shares of Datadog in a report on Tuesday, November 19th. BNP Paribas assumed coverage on shares of Datadog in a report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 target price on the stock. Robert W. Baird increased their target price on shares of Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Guggenheim reiterated a “neutral” rating on shares of Datadog in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $157.59.

Datadog Stock Up 6.8 %

DDOG stock opened at $151.89 on Wednesday. Datadog has a twelve month low of $98.80 and a twelve month high of $170.08. The stock has a market capitalization of $51.60 billion, a price-to-earnings ratio of 286.59, a price-to-earnings-growth ratio of 16.28 and a beta of 1.14. The firm’s fifty day simple moving average is $147.68 and its two-hundred day simple moving average is $129.02.

Insider Buying and Selling at Datadog

In other news, General Counsel Kerry Acocella sold 2,488 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $158.04, for a total transaction of $393,203.52. Following the completion of the sale, the general counsel now owns 68,758 shares in the company, valued at $10,866,514.32. This represents a 3.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 sale, the president now owns 214,275 shares of the company’s stock, valued at $27,005,078.25. This trade represents a 41.18 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 642,679 shares of company stock worth $92,155,421. 11.78% of the stock is owned by insiders.

Institutional Trading of Datadog

Several large investors have recently bought and sold shares of DDOG. True Wealth Design LLC grew its holdings in Datadog by 12,000.0% in the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after purchasing an additional 240 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new stake in Datadog in the fourth quarter valued at $30,000. Avior Wealth Management LLC grew its holdings in Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after purchasing an additional 81 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in shares of Datadog by 66.5% during the third 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 last quarter. Finally, Quarry LP acquired a new stake in shares of Datadog during the third quarter valued at $33,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

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.