Datadog (NASDAQ:DDOG) Downgraded to “Hold” Rating by Truist Financial

Datadog (NASDAQ:DDOG) was downgraded by analysts at Truist Financial from a “buy” rating to a “hold” rating in a research note issued on Tuesday, MarketBeat.com reports. They presently have a $150.00 price objective on the stock, down from their previous price objective of $170.00. Truist Financial’s target price would suggest a potential upside of 5.72% from the stock’s current price.

DDOG has been the topic of several other reports. Mizuho lifted their price objective on Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Stifel Nicolaus increased their price objective on shares of Datadog from $141.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. TD Cowen restated a “buy” rating and set a $165.00 target price on shares of Datadog in a report on Tuesday, November 19th. Scotiabank lowered their price target on Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. Finally, Sanford C. Bernstein reduced their price objective on Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $157.46.

Datadog Trading Up 0.3 %

Shares of DDOG opened at $141.88 on Tuesday. Datadog has a twelve month low of $98.80 and a twelve month high of $170.08. The firm has a market capitalization of $48.20 billion, a P/E ratio of 267.70, a price-to-earnings-growth ratio of 20.27 and a beta of 1.14. The stock’s fifty day simple moving average is $144.16 and its 200 day simple moving average is $127.94.

Insiders Place Their Bets

In related news, CEO Olivier Pomel sold 178,723 shares of the firm’s stock in a transaction on 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Kerry Acocella sold 2,488 shares of the business’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 sale, the general counsel now owns 68,758 shares of the company’s stock, valued at approximately $10,866,514.32. The trade was a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have 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.

Hedge Funds Weigh In On Datadog

A number of large investors have recently bought and sold shares of DDOG. True Wealth Design LLC raised its position in shares of Datadog by 12,000.0% during the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after purchasing an additional 240 shares during the period. Meeder Asset Management Inc. grew its stake in Datadog by 66.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after buying an additional 115 shares during the last quarter. Quarry LP acquired a new stake in Datadog in the third quarter worth $33,000. American National Bank & Trust bought a new stake in Datadog in the third quarter valued at $39,000. Finally, ORG Wealth Partners LLC acquired a new position in shares of Datadog during the third quarter valued at $44,000. Institutional investors 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.