Datadog (NASDAQ:DDOG) Cut to "Hold" at Stifel Nicolaus

Stifel Nicolaus cut shares of Datadog (NASDAQ:DDOG - Free Report) from a buy rating to a hold rating in a report issued on Wednesday morning, Marketbeat reports. They currently have $140.00 price objective on the stock, down from their prior price objective of $165.00.

A number of other analysts have also recently commented on DDOG. Macquarie began coverage on Datadog in a research note on Thursday, December 12th. They issued an "outperform" rating and a $200.00 price objective on the stock. Wedbush upgraded shares of Datadog from a "buy" rating to a "strong-buy" rating in a research note on Thursday, October 17th. BMO Capital Markets upped their price target on shares of Datadog from $135.00 to $145.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Royal Bank of Canada increased their price target on Datadog from $151.00 to $170.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Finally, TD Cowen restated a "buy" rating and issued a $165.00 price objective on shares of Datadog in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $157.59.

Datadog Price Performance

Shares of DDOG traded down $6.33 on Wednesday, reaching $145.56. The company's stock had a trading volume of 5,512,708 shares, compared to its average volume of 3,919,396. Datadog has a 12-month low of $98.80 and a 12-month high of $170.08. The stock's 50 day simple moving average is $148.05 and its two-hundred day simple moving average is $129.18. The stock has a market capitalization of $49.45 billion, a P/E ratio of 274.88, a PEG ratio of 16.28 and a beta of 1.14.

Insiders Place Their Bets

In other Datadog news, General Counsel Kerry Acocella sold 2,488 shares of Datadog stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $158.04, for a total value of $393,203.52. Following the transaction, the general counsel now owns 68,758 shares in the company, valued at $10,866,514.32. The trade was a 3.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amit Agarwal sold 25,000 shares of the company's stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $139.47, for a total transaction of $3,486,750.00. Following the transaction, the director now owns 195,667 shares in the company, valued at approximately $27,289,676.49. This trade represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 642,679 shares of company stock worth $92,155,421 over the last quarter. Company insiders own 11.78% of the company's stock.

Institutional Trading of Datadog

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Weatherly Asset Management L. P. purchased a new stake in Datadog during the 4th quarter valued at about $239,000. Summit Trail Advisors LLC lifted its stake in Datadog by 0.4% during the fourth quarter. Summit Trail Advisors LLC now owns 137,502 shares of the company's stock worth $19,648,000 after purchasing an additional 502 shares in the last quarter. Kingsview Wealth Management LLC raised its holdings in shares of Datadog by 1.0% in the 4th quarter. Kingsview Wealth Management LLC now owns 11,530 shares of the company's stock valued at $1,648,000 after buying an additional 117 shares during the period. Apollon Wealth Management LLC purchased a new position in Datadog during the 4th quarter valued at about $765,000. Finally, Ameliora Wealth Management Ltd. acquired a new position in Datadog in the 4th quarter valued at about $168,000. 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.