Datadog, Inc. (NASDAQ:DDOG) Sees Large Decrease in Short Interest

Datadog, Inc. (NASDAQ:DDOG) saw a large decline in short interest during the month of February. As of February 15th, there was short interest totalling 11,720,000 shares, a decline of 11.8% from the January 31st total of 13,290,000 shares. Based on an average trading volume of 5,260,000 shares, the short-interest ratio is currently 2.2 days.

Datadog Price Performance

Shares of DDOG stock opened at $109.63 on Friday. The company has a market capitalization of $37.58 billion, a P/E ratio of 214.96, a P/E/G ratio of 44.03 and a beta of 1.22. The company’s 50-day simple moving average is $135.05 and its two-hundred day simple moving average is $131.66. Datadog has a one year low of $98.80 and a one year high of $170.08.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a net margin of 6.85% and a return on equity of 8.28%. On average, research analysts expect that Datadog will post 0.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Olivier Pomel sold 178,723 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $161.28, for a total value of $28,824,445.44. Following the completion of the transaction, the chief executive officer now directly owns 379,693 shares in the company, valued at $61,236,887.04. The trade was a 32.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Amit Agarwal sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $147.99, for a total transaction of $3,699,750.00. Following the completion of the transaction, the president now owns 195,667 shares of the company’s stock, valued at approximately $28,956,759.33. The trade was a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 589,353 shares of company stock worth $86,544,020 in the last three months. Insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. True Wealth Design LLC raised its holdings in shares of Datadog by 12,000.0% in the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after buying an additional 240 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new stake in Datadog during the fourth quarter valued at $30,000. Avior Wealth Management LLC grew its position in Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after buying an additional 81 shares during the period. Putney Financial Group LLC acquired a new stake in shares of Datadog in the fourth quarter valued at about $32,000. Finally, Meeder Asset Management Inc. grew its position in shares of Datadog by 66.5% in the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after purchasing an additional 115 shares during the period. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on DDOG shares. Scotiabank cut their target price on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. Cantor Fitzgerald started 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. DA Davidson lifted their target price on shares of Datadog from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Macquarie reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Datadog in a research report on Tuesday, February 11th. Finally, BMO Capital Markets lifted their target price on shares of Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $158.70.

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.