Truist Financial Downgrades Datadog (NASDAQ:DDOG) to Hold

Datadog (NASDAQ:DDOG) was downgraded by investment analysts at Truist Financial from a “buy” rating to a “hold” rating in a research report issued on Tuesday, Marketbeat.com reports. They currently have a $150.00 target price on the stock, down from their previous target price of $170.00. Truist Financial’s price target suggests a potential upside of 5.72% from the company’s current price.

Several other research analysts also recently issued reports on the stock. Scotiabank lowered 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. Robert W. Baird boosted their price target on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Mizuho upped their price objective on Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Stifel Nicolaus lifted their target price on Datadog from $141.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, DA Davidson upped their price target on Datadog from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Datadog has a consensus rating of “Moderate Buy” and an average price target of $157.46.

Datadog Trading Up 0.3 %

DDOG stock opened at $141.88 on Tuesday. The company has a market capitalization of $48.20 billion, a P/E ratio of 267.70, a PEG ratio of 20.27 and a beta of 1.14. The business has a 50 day simple moving average of $144.16 and a 200-day simple moving average of $127.94. Datadog has a twelve month low of $98.80 and a twelve month high of $170.08.

Insider Buying and Selling at Datadog

In related news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $129.33, for a total transaction of $16,438,489.65. Following the completion of the transaction, the chief technology officer now directly owns 336,165 shares in the company, valued at $43,476,219.45. The trade was a 27.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Amit Agarwal sold 150,000 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $126.03, for a total value of $18,904,500.00. Following the sale, the president now owns 214,275 shares in the company, valued at approximately $27,005,078.25. This trade represents a 41.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 626,012 shares of company stock valued at $87,854,652 over the last quarter. Corporate 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 company. Los Angeles Capital Management LLC raised its position in shares of Datadog by 172.2% in the third quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock valued at $4,469,000 after buying an additional 24,574 shares during the last quarter. Heritage Investors Management Corp purchased a new position in shares of Datadog during the 3rd quarter worth $1,157,000. Atom Investors LP acquired a new stake in shares of Datadog during the third quarter worth $1,112,000. Jennison Associates LLC grew its position in shares of 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 purchasing an additional 126,613 shares during the period. Finally, Parnassus Investments LLC increased its stake in Datadog by 28.4% in the third quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock valued at $21,324,000 after purchasing an additional 40,952 shares during the last quarter. Institutional investors and hedge funds 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.