Datadog’s (DDOG) “Equal Weight” Rating Reiterated at Morgan Stanley

Morgan Stanley reaffirmed their equal weight rating on shares of Datadog (NASDAQ:DDOG) in a research report released on Thursday morning, MarketBeat reports. Morgan Stanley currently has a $143.00 price objective on the stock.

DDOG has been the subject of several other research reports. Jefferies Financial Group increased their target price on Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Citigroup lifted their price objective on Datadog from $150.00 to $157.00 and gave the company a “buy” rating in a research note on Friday, November 8th. UBS Group reissued an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. BMO Capital Markets increased their price objective on shares of Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Loop Capital increased their price target on shares of Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $158.45.

Datadog Trading Up 1.2 %

Shares of Datadog stock opened at $138.40 on Thursday. The company’s fifty day simple moving average is $146.03 and its two-hundred day simple moving average is $128.62. The company has a market cap of $47.02 billion, a P/E ratio of 261.14, a PEG ratio of 16.31 and a beta of 1.14. Datadog has a 12-month low of $98.80 and a 12-month high of $170.08.

Insider Transactions at Datadog

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total transaction of $17,948,497.05. Following the sale, the chief technology officer now owns 324,778 shares in the company, valued at approximately $45,861,901.38. This represents a 28.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Matthew Jacobson sold 3,393 shares of Datadog stock in a transaction on Monday, November 11th. The stock was sold at an average price of $125.03, for a total transaction of $424,226.79. Following the transaction, the director now directly owns 695,086 shares of the company’s stock, 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. Over the last three months, insiders have sold 617,679 shares of company stock valued at $88,668,671. 11.78% of the stock is currently owned by insiders.

Institutional Trading of Datadog

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DDOG. New Century Financial Group LLC increased its stake in Datadog by 64.8% in the 4th quarter. New Century Financial Group LLC now owns 3,493 shares of the company’s stock worth $506,000 after buying an additional 1,373 shares during the period. Donoghue Forlines LLC raised its holdings in shares of Datadog by 196.3% in the fourth quarter. Donoghue Forlines LLC now owns 13,653 shares of the company’s stock valued at $1,951,000 after acquiring an additional 9,045 shares in the last quarter. Avior Wealth Management LLC grew its holdings in Datadog by 55.9% during the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after acquiring an additional 81 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Datadog by 14.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 6,214 shares of the company’s stock valued at $888,000 after purchasing an additional 764 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Datadog by 149.5% in the 4th quarter. SG Americas Securities LLC now owns 18,372 shares of the company’s stock worth $2,625,000 after purchasing an additional 11,009 shares during the period. 78.29% of the stock is owned by hedge funds and other 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.