Datadog (NASDAQ:DDOG) Shares Gap Up Following Analyst Upgrade

Shares of Datadog, Inc. (NASDAQ:DDOGGet Free Report) gapped up before the market opened on Friday after Wells Fargo & Company raised their price target on the stock from $100.00 to $130.00. The stock had previously closed at $131.45, but opened at $135.81. Wells Fargo & Company currently has an equal weight rating on the stock. Datadog shares last traded at $136.05, with a volume of 1,526,344 shares.

Other research analysts have also issued reports about the stock. Needham & Company LLC upped their target price on shares of Datadog from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, November 7th. Morgan Stanley upped their price target on shares of Datadog from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, November 8th. Stifel Nicolaus upgraded shares of Datadog from a “hold” rating to a “buy” rating and upped their price target for the company from $98.00 to $140.00 in a research report on Thursday, December 7th. Guggenheim began coverage on shares of Datadog in a research report on Monday, October 23rd. They set a “neutral” rating for the company. Finally, Robert W. Baird lowered shares of Datadog from a “neutral” rating to an “underperform” rating and cut their price target for the company from $100.00 to $84.00 in a research report on Monday, October 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, Datadog has an average rating of “Moderate Buy” and an average price target of $116.03.

View Our Latest Report on Datadog

Insider Buying and Selling

In related news, CFO David M. Obstler sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $108.37, for a total value of $1,083,700.00. Following the sale, the chief financial officer now owns 260,617 shares in the company, valued at $28,243,064.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO David M. Obstler sold 10,000 shares of Datadog stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $108.37, for a total transaction of $1,083,700.00. Following the transaction, the chief financial officer now owns 260,617 shares in the company, valued at approximately $28,243,064.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Sean Michael Walters sold 6,523 shares of Datadog stock in a transaction on Monday, December 4th. The stock was sold at an average price of $116.78, for a total transaction of $761,755.94. Following the transaction, the executive now owns 169,699 shares in the company, valued at approximately $19,817,449.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 845,304 shares of company stock worth $101,237,869. 14.97% of the stock is owned by insiders.

Institutional Trading of Datadog

Several institutional investors and hedge funds have recently modified their holdings of DDOG. Norges Bank bought a new stake in shares of Datadog during the 4th quarter valued at $384,986,000. Massachusetts Financial Services Co. MA bought a new stake in Datadog in the 3rd quarter valued at $189,668,000. 1832 Asset Management L.P. increased its holdings in Datadog by 166.2% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,507,400 shares of the company’s stock valued at $246,678,000 after acquiring an additional 1,565,400 shares during the last quarter. Alkeon Capital Management LLC bought a new stake in Datadog in the 3rd quarter valued at $127,526,000. Finally, Vanguard Group Inc. increased its holdings in Datadog by 4.7% in the 3rd quarter. Vanguard Group Inc. now owns 26,524,875 shares of the company’s stock valued at $2,416,151,000 after acquiring an additional 1,191,742 shares during the last quarter. 68.30% of the stock is currently owned by institutional investors.

Datadog Stock Performance

The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.35 and a current ratio of 3.35. The company has a market capitalization of $44.32 billion, a P/E ratio of -1,124.16, a P/E/G ratio of 31.88 and a beta of 1.18. The business’s fifty day simple moving average is $122.73 and its 200-day simple moving average is $105.49.

Datadog Company Profile

(Get Free Report)

Datadog, Inc operates an observability and security platform for cloud applications in North America and internationally. The company's products include infrastructure and application performance monitoring, log management, digital experience monitoring, continuous profiler, database monitoring, network monitoring, incident management, observability pipelines, cloud cost management, universal service monitoring, cloud security management, application security management.

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