Macquarie Initiates Coverage on Datadog (NASDAQ:DDOG)

Equities researchers at Macquarie began coverage on shares of Datadog (NASDAQ:DDOG) in a report issued on Thursday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $200.00 price target on the stock. Macquarie’s target price points to a potential upside of 30.69% from the company’s current price.

A number of other equities analysts have also 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. DA Davidson lifted their price objective on Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 8th. BNP Paribas started coverage on Datadog in a research note on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price objective for the company. Rosenblatt Securities boosted their price objective on Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Scotiabank decreased their price objective on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Datadog presently has an average rating of “Moderate Buy” and an average target price of $155.07.

Datadog Stock Down 2.4 %

Shares of NASDAQ DDOG opened at $153.03 on Thursday. Datadog has a 52 week low of $98.80 and a 52 week high of $170.08. The business has a 50-day simple moving average of $136.72 and a two-hundred day simple moving average of $123.88. The company has a market cap of $51.99 billion, a P/E ratio of 288.74, a P/E/G ratio of 20.27 and a beta of 1.11.

Insider Activity

In related news, General Counsel Kerry Acocella sold 2,452 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $120.06, for a total transaction of $294,387.12. Following the completion of the transaction, the general counsel now owns 74,421 shares in the company, valued at $8,934,985.26. This represents a 3.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Olivier Pomel sold 85,637 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $122.61, for a total value of $10,499,952.57. Following the transaction, the chief executive officer now owns 392,111 shares of the company’s stock, valued at approximately $48,076,729.71. This represents a 17.93 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 713,446 shares of company stock valued at $97,145,034. Insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. SouthState Corp bought a new position in Datadog in the second quarter worth about $26,000. True Wealth Design LLC raised its position in shares of Datadog by 12,000.0% in the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after acquiring an additional 240 shares in the last quarter. Meeder Asset Management Inc. raised its position in shares of Datadog by 66.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after acquiring an additional 115 shares in the last quarter. Quarry LP bought a new position in shares of Datadog in the 3rd quarter worth approximately $33,000. Finally, Blue Trust Inc. bought a new position in Datadog in the second quarter worth $37,000. 78.29% of the stock is currently owned by 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.