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 note issued to investors on Wednesday, Marketbeat reports. They currently have a $140.00 price target on the stock, down from their previous price target of $165.00. Stifel Nicolaus’ price objective would suggest a potential downside of 7.83% from the company’s previous close.

A number of other research firms also recently commented on DDOG. Sanford C. Bernstein cut their price objective on Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. BMO Capital Markets raised their price objective on Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Jefferies Financial Group raised their price objective on Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Royal Bank of Canada raised their price objective on Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, Morgan Stanley restated an “equal weight” rating and issued a $143.00 price objective on shares of Datadog in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $157.59.

Datadog Trading Up 6.8 %

NASDAQ DDOG opened at $151.89 on Wednesday. The business’s 50-day moving average price is $147.68 and its 200 day moving average price is $129.02. Datadog has a twelve month low of $98.80 and a twelve month high of $170.08. The company has a market capitalization of $51.60 billion, a PE ratio of 286.59, a price-to-earnings-growth ratio of 16.28 and a beta of 1.14.

Insider Buying and Selling

In related news, Director Shardul Shah sold 7,916 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $155.25, for a total transaction of $1,228,959.00. Following the transaction, the director now directly owns 435,701 shares of the company’s stock, valued at approximately $67,642,580.25. The trade was a 1.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew Jacobson sold 3,393 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $125.03, for a total value of $424,226.79. Following the transaction, the director now directly owns 695,086 shares in the company, valued at $86,906,602.58. The trade was a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 642,679 shares of company stock worth $92,155,421 in the last three months. 11.78% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DDOG. Jennison Associates LLC increased its position in Datadog by 47.9% in the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock worth $1,325,826,000 after purchasing an additional 3,005,300 shares during the last quarter. Holocene Advisors LP boosted its stake in Datadog by 205.2% during the 3rd quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock valued at $187,878,000 after purchasing an additional 1,097,815 shares during the period. Champlain Investment Partners LLC bought a new stake in Datadog during the 3rd quarter valued at approximately $52,561,000. Eagle Asset Management Inc. boosted its stake in Datadog by 72.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 914,776 shares of the company’s stock valued at $113,844,000 after purchasing an additional 384,121 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Datadog by 51.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 608,252 shares of the company’s stock valued at $69,985,000 after purchasing an additional 206,696 shares during the period. 78.29% of the stock is 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.