Datadog (NASDAQ:DDOG) Trading 5.1% Higher – Should You Buy?

Datadog, Inc. (NASDAQ:DDOG)’s stock price was up 5.1% during trading on Tuesday . The company traded as high as $148.16 and last traded at $149.45. Approximately 734,770 shares were traded during trading, a decline of 78% from the average daily volume of 3,400,495 shares. The stock had previously closed at $142.16.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DDOG. Robert W. Baird increased their price target on Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. TD Cowen restated a “buy” rating and issued a $165.00 price target on shares of Datadog in a report on Tuesday, November 19th. BMO Capital Markets increased their price objective on shares of Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. UBS Group reissued an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. Finally, Jefferies Financial Group lifted their target price on Datadog from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Datadog presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.45.

Datadog Price Performance

The company’s fifty day simple moving average is $147.68 and its 200-day simple moving average is $129.02. The firm has a market capitalization of $51.59 billion, a PE ratio of 285.37, a P/E/G ratio of 16.28 and a beta of 1.14.

Insider Buying and Selling at Datadog

In other news, Director Amit Agarwal sold 25,000 shares of Datadog stock in a transaction that occurred on 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 sale, the director now owns 195,667 shares of the company’s stock, valued at approximately $27,289,676.49. The trade was a 11.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew Jacobson sold 3,393 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $125.03, for a total transaction of $424,226.79. Following the transaction, the director now directly owns 695,086 shares of the company’s stock, valued at approximately $86,906,602.58. This trade represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 642,679 shares of company stock valued at $92,155,421 over the last quarter. 11.78% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Datadog

A number of hedge funds have recently made changes to their positions in DDOG. Los Angeles Capital Management LLC boosted its stake in shares of Datadog by 172.2% in the third quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock valued at $4,469,000 after purchasing an additional 24,574 shares during the period. Heritage Investors Management Corp acquired a new stake in shares of Datadog in the third quarter valued at $1,157,000. Atom Investors LP purchased a new position in Datadog in the third quarter valued at $1,112,000. Parnassus Investments LLC grew its stake in Datadog by 28.4% during the 3rd quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock worth $21,324,000 after purchasing an additional 40,952 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in Datadog by 2.1% during the 3rd quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock worth $721,811,000 after purchasing an additional 126,613 shares during the period. Hedge funds and other institutional investors 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.