Datadog (NASDAQ:DDOG) Receives “Neutral” Rating from Guggenheim

Datadog (NASDAQ:DDOG)‘s stock had its “neutral” rating restated by research analysts at Guggenheim in a note issued to investors on Wednesday,Benzinga reports.

A number of other research analysts have also recently weighed in on DDOG. Truist Financial cut Datadog from a “buy” rating to a “hold” rating and lowered their price objective for the company from $170.00 to $150.00 in a research report on Tuesday, January 7th. Macquarie initiated coverage on shares of Datadog in a research report on Thursday, December 12th. They set an “outperform” rating and a $200.00 target price on the stock. Wedbush upgraded Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Stifel Nicolaus lifted their target price on Datadog from $141.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, Royal Bank of Canada boosted their price objective on shares of Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Datadog currently has a consensus rating of “Moderate Buy” and an average target price of $158.45.

Datadog Stock Performance

Shares of DDOG stock traded up $1.46 on Wednesday, reaching $139.86. The stock had a trading volume of 559,241 shares, compared to its average volume of 3,204,238. Datadog has a 1 year low of $98.80 and a 1 year high of $170.08. The stock has a market cap of $47.51 billion, a P/E ratio of 263.42, a price-to-earnings-growth ratio of 16.31 and a beta of 1.14. The company has a 50 day simple moving average of $146.65 and a 200 day simple moving average of $128.66.

Insider Transactions at Datadog

In other news, Director Shardul Shah sold 7,916 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $142.12, for a total transaction of $1,125,021.92. Following the sale, the director now directly owns 427,785 shares of the company’s stock, valued at $60,796,804.20. This represents a 1.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Matthew Jacobson sold 3,393 shares of Datadog stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $125.03, for a total value of $424,226.79. Following the completion of the transaction, the director now owns 695,086 shares of the company’s stock, valued at approximately $86,906,602.58. This represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 617,679 shares of company stock worth $88,668,671 over the last quarter. 11.78% of the stock is currently owned by insiders.

Institutional Trading of Datadog

Institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its holdings in Datadog by 10.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 306,402 shares of the company’s stock worth $39,735,000 after acquiring an additional 29,890 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in shares of Datadog by 156.3% in the second quarter. Mercer Global Advisors Inc. ADV now owns 9,208 shares of the company’s stock valued at $1,196,000 after purchasing an additional 5,615 shares during the period. Amalgamated Bank increased its stake in shares of Datadog by 6.5% during the second quarter. Amalgamated Bank now owns 20,202 shares of the company’s stock worth $2,620,000 after purchasing an additional 1,236 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of Datadog by 249.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,232 shares of the company’s stock worth $290,000 after purchasing an additional 1,593 shares during the last quarter. Finally, DRW Securities LLC acquired a new stake in Datadog in the 2nd quarter worth about $242,000. 78.29% of the stock is currently 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.