Datadog (NASDAQ:DDOG) Downgraded by Wells Fargo & Company to “Equal Weight”

Wells Fargo & Company cut shares of Datadog (NASDAQ:DDOG) from an overweight rating to an equal weight rating in a research note released on Thursday morning, Marketbeat reports. Wells Fargo & Company currently has $140.00 price objective on the stock, down from their prior price objective of $152.00.

Several other analysts have also weighed in on the company. Jefferies Financial Group upped their target price on Datadog from $155.00 to $170.00 and gave the company a “buy” rating in a report on Monday, January 6th. Citigroup increased their price objective on shares of Datadog from $157.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Sanford C. Bernstein cut their target price on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. Loop Capital increased their price target on shares of Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Finally, Scotiabank cut their price objective on Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Datadog currently has a consensus rating of “Moderate Buy” and an average target price of $158.17.

Datadog Stock Performance

NASDAQ:DDOG opened at $135.89 on Thursday. Datadog has a 1 year low of $98.80 and a 1 year high of $170.08. The stock has a fifty day moving average price of $146.40 and a two-hundred day moving average price of $130.89. The stock has a market capitalization of $46.16 billion, a price-to-earnings ratio of 256.40, a PEG ratio of 16.83 and a beta of 1.15.

Datadog (NASDAQ:DDOG) last issued 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%. On average, analysts predict that Datadog will post 0.53 EPS for the current year.

Insider Activity at Datadog

In related news, Director Shardul Shah sold 7,916 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $155.25, for a total transaction of $1,228,959.00. Following the sale, the director now owns 435,701 shares in the company, valued at $67,642,580.25. This represents a 1.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s 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 completion of the transaction, the chief technology officer now directly owns 324,778 shares in the company, valued at $45,861,901.38. This represents a 28.13 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 627,586 shares of company stock valued at $92,540,479. Corporate insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

Several large investors have recently added to or reduced their stakes in DDOG. True Wealth Design LLC grew its position in shares of Datadog by 12,000.0% during the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after acquiring an additional 240 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new position in Datadog during the 4th quarter valued at about $30,000. Avior Wealth Management LLC grew its position in Datadog by 55.9% in 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. raised its holdings in shares of Datadog by 66.5% during the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after buying an additional 115 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of Datadog during the third quarter worth approximately $33,000. 78.29% of the stock is owned by institutional investors and hedge funds.

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.