Datadog (NASDAQ:DDOG) Downgraded by Truist Financial to "Hold"

Truist Financial cut shares of Datadog (NASDAQ:DDOG - Free Report) from a buy rating to a hold rating in a research note published on Tuesday, Marketbeat Ratings reports. They currently have $150.00 price objective on the stock, down from their previous price objective of $170.00.

Several other equities analysts also recently commented on DDOG. Stifel Nicolaus increased their price target on Datadog from $141.00 to $165.00 and gave the company a "buy" rating in a report on Wednesday, December 18th. Scotiabank lowered their target price on shares of Datadog from $135.00 to $133.00 and set a "sector outperform" rating on the stock in a research note on Friday, November 8th. Jefferies Financial Group boosted their target price on shares of Datadog from $155.00 to $170.00 and gave the stock a "buy" rating in a research report on Monday. Macquarie began coverage on Datadog in a research report on Thursday, December 12th. They issued an "outperform" rating and a $200.00 price target on the stock. Finally, Sanford C. Bernstein cut their price objective on Datadog from $157.00 to $151.00 and set an "outperform" rating for the company in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Datadog presently has an average rating of "Moderate Buy" and a consensus target price of $157.46.

Datadog Stock Down 3.2 %

Shares of NASDAQ:DDOG traded down $4.64 on Tuesday, reaching $141.40. The company had a trading volume of 3,988,556 shares, compared to its average volume of 2,804,238. The stock has a market capitalization of $48.04 billion, a P/E ratio of 266.80, a P/E/G ratio of 20.27 and a beta of 1.14. The stock has a 50-day moving average price of $143.63 and a 200 day moving average price of $127.68. Datadog has a twelve month low of $98.80 and a twelve month high of $170.08.

Insiders Place Their Bets

In related 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 completion of the transaction, the general counsel now directly owns 68,758 shares of the company's stock, 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 filing with the SEC, which is available through the SEC website. Also, CEO Olivier Pomel sold 178,723 shares of the stock in a transaction dated 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 directly owns 379,693 shares in the company, valued at approximately $61,236,887.04. This represents a 32.01 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 626,012 shares of company stock valued at $87,854,652. 11.78% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DDOG. Nordea Investment Management AB raised its position in shares of Datadog by 21.2% during the fourth quarter. Nordea Investment Management AB now owns 58,256 shares of the company's stock worth $8,376,000 after acquiring an additional 10,199 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in Datadog in the fourth quarter worth about $1,190,000. GAMMA Investing LLC raised its position in shares of Datadog by 40.3% during the 4th quarter. GAMMA Investing LLC now owns 790 shares of the company's stock valued at $113,000 after acquiring an additional 227 shares during the last quarter. Peapack Gladstone Financial Corp lifted its stake in Datadog by 39.9% in the third quarter. Peapack Gladstone Financial Corp now owns 5,140 shares of the company's stock valued at $591,000 after buying an additional 1,465 shares during the period. Finally, Tidal Investments LLC increased its stake in Datadog by 27.6% during the 3rd quarter. Tidal Investments LLC now owns 28,295 shares of the company's stock worth $3,256,000 after purchasing an additional 6,119 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.