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

Datadog (NASDAQ:DDOG) was downgraded by equities researchers at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a report released on Thursday,Briefing.com Automated Import reports.

A number of other research firms also recently issued reports on DDOG. Rosenblatt Securities boosted their price target on Datadog from $148.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday. Monness Crespi & Hardt raised Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a research report on Thursday, November 7th. Cantor Fitzgerald initiated coverage on Datadog in a research report on Friday, January 17th. They set an “overweight” rating and a $180.00 price target on the stock. BMO Capital Markets boosted their price target on Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, DA Davidson boosted their price target on Datadog from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Datadog has an average rating of “Moderate Buy” and a consensus target price of $158.52.

Datadog Trading Down 9.1 %

Shares of NASDAQ:DDOG traded down $13.45 during midday trading on Thursday, hitting $134.64. The company had a trading volume of 15,807,585 shares, compared to its average volume of 4,689,057. The firm has a fifty day simple moving average of $146.40 and a 200 day simple moving average of $130.89. The stock has a market cap of $45.74 billion, a price-to-earnings ratio of 253.98, a PEG ratio of 16.83 and a beta of 1.15. Datadog has a 12 month low of $98.80 and a 12 month high of $170.08.

Datadog (NASDAQ:DDOG) last posted its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a return on equity of 9.41% and a net margin of 7.58%. Equities analysts forecast that Datadog will post 0.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, President Amit Agarwal sold 150,000 shares of the stock in a transaction dated 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 transaction, the president now owns 214,275 shares of the company’s stock, valued at $27,005,078.25. This represents a 41.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total transaction of $17,948,497.05. Following the transaction, the chief technology officer now directly owns 324,778 shares in the company, valued at $45,861,901.38. This trade represents a 28.13 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 777,586 shares of company stock worth $111,444,979. Company insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

Several large investors have recently added to or reduced their stakes in DDOG. True Wealth Design LLC lifted its position 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 worth $28,000 after buying an additional 240 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new stake in shares of Datadog during the 4th quarter worth approximately $30,000. Avior Wealth Management LLC increased its stake in shares of Datadog by 55.9% during the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after purchasing an additional 81 shares during the last quarter. Meeder Asset Management Inc. increased its stake 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 purchasing an additional 115 shares during the last quarter. Finally, Quarry LP purchased a new stake in shares of Datadog during the 3rd quarter worth approximately $33,000. 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.