Datadog (NASDAQ:DDOG) Trading Up 5.1% – Here’s Why

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

Analyst Ratings Changes

DDOG has been the subject of several analyst reports. TD Cowen reiterated a “buy” rating and issued a $165.00 price objective on shares of Datadog in a research report on Tuesday, November 19th. UBS Group reiterated an “underperform” rating on shares of Datadog in a report on Friday, October 18th. Citigroup boosted their price objective on shares of Datadog from $157.00 to $170.00 and gave the company a “buy” rating in a report on Friday, January 17th. Macquarie initiated coverage on shares of Datadog in a research report on Thursday, December 12th. They set an “outperform” rating and a $200.00 price target for the company. Finally, Robert W. Baird upped their price objective on shares of Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $157.59.

Datadog Trading Down 4.1 %

The stock has a market capitalization of $49.50 billion, a price-to-earnings ratio of 274.95, a price-to-earnings-growth ratio of 16.28 and a beta of 1.14. The company’s 50 day moving average is $148.05 and its 200 day moving average is $129.18.

Insiders Place Their Bets

In other Datadog news, CEO Olivier Pomel sold 11,195 shares of Datadog stock in a transaction on Monday, January 27th. The shares were sold at an average price of $139.86, for a total value of $1,565,732.70. Following the transaction, the chief executive officer now directly owns 379,693 shares in the company, valued at approximately $53,103,862.98. The trade was a 2.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Matthew Jacobson sold 3,393 shares of the 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 sale, the director now owns 695,086 shares of the company’s stock, valued at $86,906,602.58. This trade represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 653,874 shares of company stock valued at $93,721,154 over the last quarter. Company insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

Large investors have recently bought and sold shares of the company. Spire Wealth Management grew its holdings in shares of Datadog by 21.4% during the fourth quarter. Spire Wealth Management now owns 453 shares of the company’s stock worth $65,000 after buying an additional 80 shares in the last quarter. Avior Wealth Management LLC increased its position 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 purchasing an additional 81 shares in the last quarter. Pathstone Holdings LLC raised its stake in shares of Datadog by 0.4% in the 3rd quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock valued at $2,664,000 after acquiring an additional 91 shares during the period. GAMMA Investing LLC raised its position in Datadog by 19.5% in the third quarter. GAMMA Investing LLC now owns 563 shares of the company’s stock valued at $65,000 after purchasing an additional 92 shares during the period. Finally, Parsons Capital Management Inc. RI lifted its position in Datadog by 2.0% during the 4th quarter. Parsons Capital Management Inc. RI now owns 4,943 shares of the company’s stock worth $706,000 after acquiring an additional 96 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

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.