Datadog (NASDAQ:DDOG) Now Covered by Analysts at Macquarie

Macquarie began coverage on shares of Datadog (NASDAQ:DDOG - Free Report) in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $200.00 target price on the stock.

DDOG has been the topic of several other reports. Barclays upped their price objective on Datadog from $155.00 to $187.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. Robert W. Baird upped their price target on shares of Datadog from $140.00 to $150.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Citigroup lifted their price target on shares of Datadog from $150.00 to $157.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Monness Crespi & Hardt upgraded Datadog from a "neutral" rating to a "buy" rating and set a $155.00 price objective for the company in a report on Thursday, November 7th. Finally, BMO Capital Markets lifted their target price on Datadog from $135.00 to $145.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $154.52.

Datadog Stock Performance

Shares of Datadog stock traded down $0.37 during trading on Thursday, reaching $156.11. 2,066,098 shares of the company's stock were exchanged, compared to its average volume of 4,031,448. The firm's 50-day moving average price is $135.33 and its 200 day moving average price is $123.44. The company has a market cap of $53.03 billion, a P/E ratio of 293.85, a PEG ratio of 21.85 and a beta of 1.11. Datadog has a 1-year low of $98.80 and a 1-year high of $170.08.

Insider Buying and Selling

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were 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 of the company's stock, valued at $43,476,219.45. This represents a 27.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Olivier Pomel sold 178,723 shares of the firm's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the sale, the chief executive officer now owns 379,693 shares of the company's stock, valued at approximately $61,236,887.04. The trade was a 32.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 713,446 shares of company stock worth $97,145,034. 11.78% of the stock is owned by company insiders.

Institutional Investors Weigh In On Datadog

Large investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC increased its stake 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 worth $4,469,000 after purchasing an additional 24,574 shares in the last quarter. Heritage Investors Management Corp bought a new position in Datadog in the 3rd quarter worth approximately $1,157,000. Atom Investors LP purchased a new position in Datadog in the 3rd quarter valued at approximately $1,112,000. Jennison Associates LLC raised its holdings in Datadog by 2.1% during the 3rd 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 period. Finally, Parnassus Investments LLC lifted its position in shares of Datadog by 28.4% during 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. Hedge funds and other institutional investors 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.