Short Interest in Datadog, Inc. (NASDAQ:DDOG) Declines By 5.3%

Datadog, Inc. (NASDAQ:DDOG) was the recipient of a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 8,090,000 shares, a decrease of 5.3% from the August 31st total of 8,540,000 shares. Based on an average daily volume of 3,380,000 shares, the days-to-cover ratio is presently 2.4 days.

Datadog Trading Up 0.8 %

Shares of NASDAQ DDOG traded up $0.86 during midday trading on Monday, reaching $115.06. The company had a trading volume of 1,562,832 shares, compared to its average volume of 3,840,965. The stock has a market cap of $38.49 billion, a P/E ratio of 359.56, a P/E/G ratio of 28.94 and a beta of 1.11. Datadog has a 1 year low of $77.81 and a 1 year high of $138.61. The business’s 50-day simple moving average is $113.69 and its 200 day simple moving average is $119.27.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.06. The company had revenue of $645.28 million for the quarter, compared to the consensus estimate of $624.92 million. Datadog had a net margin of 6.81% and a return on equity of 9.01%. Datadog’s quarterly revenue was up 26.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 EPS. Analysts predict that Datadog will post 0.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DDOG. Mizuho upgraded Datadog from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $135.00 to $155.00 in a research report on Tuesday, July 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $150.00 target price on shares of Datadog in a report on Monday, July 22nd. Monness Crespi & Hardt raised Datadog from a “sell” rating to a “neutral” rating in a research note on Wednesday, August 7th. BTIG Research raised Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective on the stock in a report on Thursday, August 1st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $151.00 target price on shares of Datadog in a research report on Friday, August 9th. Four analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $139.88.

Insider Transactions at Datadog

In related news, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $104.21, for a total transaction of $8,924,231.77. Following the completion of the sale, the chief executive officer now directly owns 405,314 shares in the company, valued at $42,237,771.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $104.21, for a total transaction of $8,924,231.77. Following the completion of the transaction, the chief executive officer now directly owns 405,314 shares in the company, valued at approximately $42,237,771.94. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Matthew Jacobson sold 9,256 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the completion of the transaction, the director now owns 48,411 shares of the company’s stock, valued at $5,230,808.55. The disclosure for this sale can be found here. Insiders have sold 422,991 shares of company stock worth $50,448,980 in the last quarter. Company insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Riverview Trust Co purchased a new stake in shares of Datadog during the 1st quarter worth about $26,000. SouthState Corp purchased a new stake in shares of Datadog in the second quarter valued at approximately $26,000. Raleigh Capital Management Inc. purchased a new stake in shares of Datadog in the fourth quarter valued at approximately $29,000. Jones Financial Companies Lllp acquired a new position in shares of Datadog during the 4th quarter worth approximately $33,000. Finally, Blue Trust Inc. purchased a new stake in Datadog during the 2nd quarter valued at about $37,000. 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.