Datadog (NASDAQ:DDOG) Cut to Equal Weight at Wells Fargo & Company

Datadog (NASDAQ:DDOG) was downgraded by research analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports.

Other research analysts have also issued reports about the stock. TD Cowen reiterated a “buy” rating and issued a $165.00 target price on shares of Datadog in a research report on Tuesday, November 19th. Jefferies Financial Group upped 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, January 6th. Loop Capital upped their target price on shares of Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Cantor Fitzgerald assumed coverage on shares of Datadog in a research report on Friday, January 17th. They issued an “overweight” rating and a $180.00 target price for the company. Finally, Robert W. Baird upped their target price on shares of Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $158.52.

Datadog Trading Down 9.1 %

Shares of DDOG traded down $13.45 during mid-day trading on Thursday, reaching $134.64. 15,807,585 shares of the stock traded hands, compared to its average volume of 4,689,057. The firm has a fifty day moving average price of $146.40 and a 200 day moving average price of $130.89. The company has a market cap of $45.74 billion, a price-to-earnings ratio of 253.98, a price-to-earnings-growth ratio of 16.83 and a beta of 1.15. Datadog has a 1 year low of $98.80 and a 1 year high of $170.08.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a net margin of 7.58% and a return on equity of 9.41%. On average, sell-side analysts anticipate that Datadog will post 0.53 EPS for the current year.

Insider Buying and Selling at Datadog

In other news, CEO Olivier Pomel sold 178,723 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now owns 379,693 shares in the company, valued at $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 is available through the SEC website. Also, President Amit Agarwal sold 150,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $126.03, for a total transaction of $18,904,500.00. Following the sale, the president now owns 214,275 shares in the company, valued at approximately $27,005,078.25. The trade was a 41.18 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 777,586 shares of company stock valued at $111,444,979. Corporate insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

A number of institutional investors have recently made changes to their positions in DDOG. CWM LLC boosted its holdings in Datadog by 69.1% in the third quarter. CWM LLC now owns 10,347 shares of the company’s stock worth $1,190,000 after purchasing an additional 4,229 shares during the last quarter. Inspire Investing LLC raised its position in Datadog by 22.0% in the third quarter. Inspire Investing LLC now owns 2,484 shares of the company’s stock worth $286,000 after acquiring an additional 448 shares during the period. Creative Planning raised its position in shares of Datadog by 17.6% during the 3rd quarter. Creative Planning now owns 17,141 shares of the company’s stock valued at $1,972,000 after purchasing an additional 2,563 shares during the period. Swedbank AB raised its position in shares of Datadog by 3.2% during the 3rd quarter. Swedbank AB now owns 110,712 shares of the company’s stock valued at $12,739,000 after purchasing an additional 3,483 shares during the period. Finally, Sumitomo Life Insurance Co. raised its position in shares of Datadog by 2.8% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 11,629 shares of the company’s stock valued at $1,338,000 after purchasing an additional 314 shares during the period. 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.