Datadog, Inc. (NASDAQ:DDOG) Short Interest Down 15.7% in July

Datadog, Inc. (NASDAQ:DDOG) was the recipient of a large drop in short interest during the month of July. As of July 31st, there was short interest totalling 8,300,000 shares, a drop of 15.7% from the July 15th total of 9,850,000 shares. Based on an average daily trading volume, of 3,970,000 shares, the days-to-cover ratio is currently 2.1 days.

Datadog Stock Down 1.2 %

Shares of Datadog stock traded down $1.35 during trading on Friday, reaching $114.98. The stock had a trading volume of 2,196,876 shares, compared to its average volume of 4,092,042. The company has a market capitalization of $38.46 billion, a price-to-earnings ratio of 359.31, a P/E/G ratio of 37.24 and a beta of 1.11. The stock has a fifty day moving average price of $119.86 and a two-hundred day moving average price of $122.64. Datadog has a 52 week low of $77.81 and a 52 week high of $138.61. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.34.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. The company had revenue of $645.28 million for the quarter, compared to analyst estimates of $624.92 million. Datadog had a return on equity of 7.48% and a net margin of 5.11%. The company’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 earnings per share. Sell-side analysts predict that Datadog will post 0.32 EPS for the current fiscal year.

Insider Buying and Selling at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $111.66, for a total transaction of $14,192,544.30. Following the sale, the chief technology officer now owns 347,684 shares of the company’s stock, valued at approximately $38,822,395.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Olivier Pomel sold 85,637 shares of Datadog 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 sale, the chief executive officer now owns 405,314 shares of the company’s stock, valued at approximately $42,237,771.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $111.66, for a total value of $14,192,544.30. Following the transaction, the chief technology officer now owns 347,684 shares of the company’s stock, valued at approximately $38,822,395.44. The disclosure for this sale can be found here. Insiders have sold 857,306 shares of company stock valued at $101,078,323 in the last 90 days. 11.78% of the stock is currently owned by insiders.

Institutional Trading of Datadog

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sunbelt Securities Inc. raised its holdings in Datadog by 67.3% during the second quarter. Sunbelt Securities Inc. now owns 2,535 shares of the company’s stock worth $329,000 after acquiring an additional 1,020 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Datadog by 4.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 13,141 shares of the company’s stock valued at $1,704,000 after buying an additional 571 shares during the period. Creative Planning raised its stake in Datadog by 7.1% in the second quarter. Creative Planning now owns 14,578 shares of the company’s stock valued at $1,891,000 after buying an additional 963 shares during the period. Algert Global LLC raised its stake in Datadog by 128.0% in the second quarter. Algert Global LLC now owns 4,427 shares of the company’s stock valued at $574,000 after buying an additional 2,485 shares during the period. Finally, Lighthouse Investment Partners LLC bought a new stake in Datadog in the second quarter valued at approximately $1,556,000. Institutional investors own 78.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on DDOG. Cantor Fitzgerald restated an “overweight” rating and set a $150.00 target price on shares of Datadog in a research report on Monday, July 22nd. Mizuho upgraded Datadog from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $135.00 to $155.00 in a research report on Tuesday, July 16th. Stifel Nicolaus reiterated a “buy” rating and issued a $152.00 price objective on shares of Datadog in a research report on Monday, April 22nd. Barclays cut their price objective on Datadog from $145.00 to $140.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Finally, Scotiabank cut their price objective on Datadog from $145.00 to $135.00 and set a “sector outperform” rating for the company in a research report on Friday, August 9th. Four research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $138.93.

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.