Datadog’s (DDOG) Outperform Rating Reaffirmed at Macquarie

Datadog (NASDAQ:DDOG)‘s stock had its “outperform” rating reissued by equities research analysts at Macquarie in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $200.00 price objective on the stock. Macquarie’s target price indicates a potential upside of 37.53% from the company’s previous close.

Other research analysts have also issued research reports about the company. Sanford C. Bernstein reduced their price target on Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. Wedbush upgraded Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Rosenblatt Securities increased their price objective 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. Barclays boosted their target price on Datadog from $155.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, UBS Group reaffirmed an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $158.10.

Datadog Price Performance

NASDAQ DDOG traded down $1.68 during mid-day trading on Tuesday, hitting $145.42. The stock had a trading volume of 3,397,808 shares, compared to its average volume of 4,214,133. Datadog has a twelve month low of $98.80 and a twelve month high of $170.08. The stock has a market capitalization of $49.40 billion, a price-to-earnings ratio of 274.38, a PEG ratio of 16.83 and a beta of 1.15. The firm’s 50 day moving average is $146.95 and its 200 day moving average is $130.58.

Insider Buying and Selling at Datadog

In other Datadog news, General Counsel Kerry Acocella sold 2,488 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $158.04, for a total transaction of $393,203.52. Following the completion of the transaction, the general counsel now owns 68,758 shares in the company, valued at approximately $10,866,514.32. This represents a 3.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Amit Agarwal sold 150,000 shares of the business’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 in the company, valued at $27,005,078.25. The trade was a 41.18 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 777,586 shares of company stock worth $111,444,979. 11.78% of the stock is owned by insiders.

Hedge Funds Weigh In On Datadog

Several large investors have recently added to or reduced their stakes in DDOG. Jennison Associates LLC grew its stake in Datadog by 47.9% during the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after purchasing an additional 3,005,300 shares in the last quarter. Baillie Gifford & Co. boosted its position in Datadog by 15.8% during the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock worth $1,558,234,000 after acquiring an additional 1,484,562 shares during the period. William Blair Investment Management LLC bought a new stake in shares of Datadog in the 4th quarter worth $173,163,000. Holocene Advisors LP increased its holdings in shares of Datadog by 205.2% in the third quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock valued at $187,878,000 after buying an additional 1,097,815 shares in the last quarter. Finally, Champlain Investment Partners LLC acquired a new position in shares of Datadog in the third quarter worth about $52,561,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

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.