Datadog (NASDAQ:DDOG) Trading Up 5.1% – Still a Buy?

Datadog, Inc. (NASDAQ:DDOG) traded up 5.1% on Tuesday . The stock traded as high as $148.16 and last traded at $149.45. 734,770 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 3,400,495 shares. The stock had previously closed at $142.16.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Guggenheim restated a “neutral” rating on shares of Datadog in a research report on Wednesday, January 22nd. DA Davidson upped their price objective on shares of Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Monness Crespi & Hardt upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a report on Thursday, November 7th. Wedbush upgraded shares of Datadog from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. Finally, Loop Capital upped their price objective on Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.45.

Datadog Stock Up 6.8 %

The company’s 50-day simple moving average is $147.68 and its 200-day simple moving average is $129.02. The stock has a market cap of $51.59 billion, a price-to-earnings ratio of 285.37, a price-to-earnings-growth ratio of 16.28 and a beta of 1.14.

Insider Transactions at Datadog

In other Datadog news, Director Matthew Jacobson sold 3,393 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $125.03, for a total transaction of $424,226.79. Following the completion of the sale, the director now directly owns 695,086 shares in the company, valued at approximately $86,906,602.58. This trade represents a 0.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Shardul Shah sold 7,916 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $155.25, for a total value of $1,228,959.00. Following the completion of the transaction, the director now owns 435,701 shares in the company, valued at $67,642,580.25. This represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 642,679 shares of company stock valued at $92,155,421 over the last three months. Company insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

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

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.