Datadog (NASDAQ:DDOG) Shares Up 5.1% - Here's Why

Shares of Datadog, Inc. (NASDAQ:DDOG - Get Free Report) traded up 5.1% during trading on Tuesday . The company traded as high as $148.16 and last traded at $149.45. 734,770 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 3,400,495 shares. The stock had previously closed at $142.16.

Analyst Ratings Changes

DDOG has been the subject of a number of research analyst reports. Sanford C. Bernstein dropped their price objective on shares of Datadog from $157.00 to $151.00 and set an "outperform" rating on the stock in a research report on Monday, October 21st. Rosenblatt Securities increased their price target on shares of Datadog from $140.00 to $148.00 and gave the company 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. DA Davidson increased their target price on Datadog from $140.00 to $150.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Finally, Wedbush upgraded Datadog from a "buy" rating to a "strong-buy" rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Datadog has a consensus rating of "Moderate Buy" and an average price target of $158.45.

Datadog Trading Up 6.8 %

The firm's 50-day moving average is $147.68 and its 200 day moving average is $129.02. The firm has a market capitalization of $51.60 billion, a price-to-earnings ratio of 286.59, a P/E/G ratio of 16.28 and a beta of 1.14.

Insider Activity

In other Datadog news, CEO Olivier Pomel sold 178,723 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the completion of the sale, the chief executive officer now directly owns 379,693 shares of the company's stock, valued at approximately $61,236,887.04. This represents a 32.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Matthew Jacobson sold 3,393 shares of the business's stock in a transaction that occurred on 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 642,679 shares of company stock valued at $92,155,421. Corporate insiders own 11.78% of the company's stock.

Hedge Funds Weigh In On Datadog

Institutional investors have recently modified their holdings of the company. True Wealth Design LLC raised its holdings in shares of Datadog by 12,000.0% during the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company's stock valued at $28,000 after purchasing an additional 240 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new position in shares of Datadog during the 4th quarter worth about $30,000. Avior Wealth Management LLC boosted its holdings in shares of Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock worth $32,000 after acquiring an additional 81 shares during the period. Meeder Asset Management Inc. lifted its holdings in shares of Datadog by 66.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company's stock worth $33,000 after acquiring an additional 115 shares during the period. Finally, Quarry LP acquired a new position in shares of Datadog in the third quarter valued at approximately $33,000. 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.