Datadog (NASDAQ:DDOG) Hits New 1-Year High – What’s Next?

Datadog, Inc. (NASDAQ:DDOG)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $141.73 and last traded at $141.73, with a volume of 90763 shares traded. The stock had previously closed at $135.45.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Wedbush upgraded shares of Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. TD Cowen reiterated a “buy” rating and set a $165.00 target price on shares of Datadog in a research report on Tuesday. Royal Bank of Canada restated an “outperform” rating and issued a $151.00 price target on shares of Datadog in a research report on Friday, August 9th. Monness Crespi & Hardt raised Datadog from a “neutral” rating to a “buy” rating and set a $155.00 target price on the stock in a research note on Thursday, November 7th. Finally, UBS Group restated an “underperform” rating on shares of Datadog in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $150.96.

Datadog Trading Up 7.6 %

The business has a 50 day moving average of $124.21 and a two-hundred day moving average of $119.98. The firm has a market cap of $52.60 billion, a P/E ratio of 292.13, a PEG ratio of 17.46 and a beta of 1.10.

Insider Transactions at Datadog

In other Datadog news, CRO Sean Michael Walters sold 4,244 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $135.00, for a total value of $572,940.00. Following the completion of the sale, the executive now owns 179,367 shares of the company’s stock, valued at $24,214,545. The trade was a 2.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Shardul Shah sold 15,832 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $120.02, for a total transaction of $1,900,156.64. Following the transaction, the director now directly owns 459,449 shares in the company, valued at $55,143,068.98. This represents a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 541,491 shares of company stock worth $68,927,496. 11.78% of the stock is owned by insiders.

Hedge Funds Weigh In On Datadog

Hedge funds and other institutional investors have recently made changes to their positions in the company. TCW Group Inc. increased its stake in shares of Datadog by 0.6% in the 3rd quarter. TCW Group Inc. now owns 224,144 shares of the company’s stock valued at $25,790,000 after purchasing an additional 1,412 shares during the last quarter. Arete Wealth Advisors LLC acquired a new stake in shares of Datadog in the 3rd quarter valued at approximately $403,000. Teachers Retirement System of The State of Kentucky increased its position in Datadog by 2.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 83,230 shares of the company’s stock worth $9,577,000 after purchasing an additional 2,050 shares in the last quarter. Toronto Dominion Bank lifted its stake in Datadog by 48.3% in the 3rd quarter. Toronto Dominion Bank now owns 43,740 shares of the company’s stock valued at $5,033,000 after purchasing an additional 14,241 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its position in Datadog by 10.1% in the third quarter. Coldstream Capital Management Inc. now owns 4,024 shares of the company’s stock valued at $467,000 after buying an additional 369 shares in the last quarter. 78.29% of the stock is currently 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.