Datadog (NASDAQ:DDOG) Reaches New 1-Year High – Should You Buy?

Shares of Datadog, Inc. (NASDAQ:DDOG) reached a new 52-week high during trading on Wednesday . The stock traded as high as $158.75 and last traded at $158.75, with a volume of 30954 shares trading hands. The stock had previously closed at $155.01.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Scotiabank reduced their target price on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 8th. Sanford C. Bernstein reduced their target price on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. Wedbush raised shares of Datadog from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Needham & Company LLC reduced their target price on shares of Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, TD Cowen reissued a “buy” rating and issued a $165.00 target price on shares of Datadog in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $150.96.

Datadog Stock Performance

The firm has a market capitalization of $55.84 billion, a P/E ratio of 311.72, a PEG ratio of 20.01 and a beta of 1.11. The business’s fifty day moving average price is $129.72 and its two-hundred day moving average price is $121.79.

Insider Activity

In related news, Director Shardul Shah sold 15,832 shares of Datadog stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $120.02, for a total value of $1,900,156.64. Following the completion of the sale, the director now directly owns 459,449 shares in the company, valued at $55,143,068.98. This trade represents a 3.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Amit Agarwal sold 150,000 shares of Datadog stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $126.03, for a total transaction of $18,904,500.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 541,491 shares of company stock worth $68,927,496. Corporate insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

A number of institutional investors have recently bought and sold shares of the stock. Cetera Investment Advisers raised its position in Datadog by 150.1% during the 1st quarter. Cetera Investment Advisers now owns 33,880 shares of the company’s stock worth $4,188,000 after buying an additional 20,336 shares during the last quarter. Cetera Advisors LLC raised its position in Datadog by 141.5% during the 1st quarter. Cetera Advisors LLC now owns 13,700 shares of the company’s stock worth $1,693,000 after buying an additional 8,026 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Datadog by 70.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock worth $39,000 after buying an additional 127 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in Datadog by 48.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 360 shares of the company’s stock worth $47,000 after buying an additional 117 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in Datadog by 10.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 9,414 shares of the company’s stock worth $1,221,000 after buying an additional 865 shares during 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.