Stifel Nicolaus Downgrades Datadog (NASDAQ:DDOG) to Hold

Stifel Nicolaus lowered shares of Datadog (NASDAQ:DDOG) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning, Marketbeat.com reports. Stifel Nicolaus currently has $140.00 price target on the stock, down from their previous price target of $165.00.

Several other brokerages also recently commented on DDOG. DA Davidson increased their target price on shares of Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a report on Friday, November 8th. Robert W. Baird increased their price objective on shares of Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Guggenheim reissued a “neutral” rating on shares of Datadog in a research report on Wednesday, January 22nd. Macquarie started coverage on Datadog in a report on Thursday, December 12th. They issued an “outperform” rating and a $200.00 target price for the company. Finally, UBS Group reiterated an “underperform” rating on shares of Datadog in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $157.59.

Datadog Trading Down 4.1 %

Shares of Datadog stock opened at $145.72 on Wednesday. The stock has a fifty day simple moving average of $148.05 and a 200 day simple moving average of $129.18. Datadog has a 12-month low of $98.80 and a 12-month high of $170.08. The company has a market capitalization of $49.50 billion, a P/E ratio of 274.95, a price-to-earnings-growth ratio of 16.28 and a beta of 1.14.

Insider Activity

In related news, General Counsel Kerry Acocella sold 2,488 shares of Datadog stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $158.04, for a total transaction of $393,203.52. Following the completion of the sale, the general counsel now owns 68,758 shares of the company’s stock, valued at approximately $10,866,514.32. This trade represents a 3.49 % 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, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total value of $17,948,497.05. Following the completion of the transaction, the chief technology officer now owns 324,778 shares in the company, valued at $45,861,901.38. This represents a 28.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 653,874 shares of company stock worth $93,721,154 over the last ninety days. Company insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Los Angeles Capital Management LLC grew its stake in Datadog by 172.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock worth $4,469,000 after buying an additional 24,574 shares in the last quarter. Heritage Investors Management Corp purchased a new stake in shares of Datadog during the 3rd quarter valued at $1,157,000. Atom Investors LP bought a new stake in shares of Datadog during the 3rd quarter worth $1,112,000. Parnassus Investments LLC grew its position in Datadog by 28.4% in the third quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock worth $21,324,000 after acquiring an additional 40,952 shares in the last quarter. Finally, Jennison Associates LLC increased its stake in Datadog by 2.1% in the third quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock valued at $721,811,000 after acquiring an additional 126,613 shares during the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

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.