Datadog, Inc. (NASDAQ:DDOG) Sees Significant Increase in Short Interest

Datadog, Inc. (NASDAQ:DDOG) saw a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 16,020,000 shares, an increase of 40.9% from the November 15th total of 11,370,000 shares. Based on an average daily trading volume, of 4,270,000 shares, the days-to-cover ratio is currently 3.8 days.

Insider Transactions at Datadog

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $129.33, for a total transaction of $16,438,489.65. Following the transaction, the chief technology officer now directly owns 336,165 shares in the company, valued at approximately $43,476,219.45. The trade was a 27.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Kerry Acocella sold 2,452 shares of Datadog stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $120.06, for a total value of $294,387.12. Following the transaction, the general counsel now owns 74,421 shares in the company, valued at $8,934,985.26. This trade represents a 3.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 713,446 shares of company stock worth $97,145,034 in the last quarter. 11.78% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Jennison Associates LLC increased its stake in Datadog by 2.1% during the 3rd quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock valued at $721,811,000 after purchasing an additional 126,613 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Datadog by 2.5% during the third quarter. Geode Capital Management LLC now owns 5,185,557 shares of the company’s stock valued at $595,438,000 after buying an additional 125,457 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Datadog by 9.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock worth $511,620,000 after acquiring an additional 331,808 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in shares of Datadog by 5.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,486,600 shares of the company’s stock worth $322,487,000 after acquiring an additional 138,700 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Datadog by 2.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,024,926 shares of the company’s stock valued at $232,988,000 after acquiring an additional 46,746 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Price Performance

Shares of Datadog stock traded down $3.70 on Friday, hitting $153.03. 4,409,238 shares of the company’s stock traded hands, compared to its average volume of 4,038,865. The company has a market capitalization of $51.99 billion, a price-to-earnings ratio of 288.74, a price-to-earnings-growth ratio of 20.27 and a beta of 1.11. The company has a fifty day moving average of $136.72 and a two-hundred day moving average of $123.89. Datadog has a one year low of $98.80 and a one year high of $170.08.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. UBS Group reiterated an “underperform” rating on shares of Datadog in a report on Friday, October 18th. Macquarie started coverage on shares of Datadog in a research note on Thursday. They issued an “outperform” rating and a $200.00 target price for the company. Barclays upped their price target on shares of Datadog from $155.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Truist Financial boosted their price objective on shares of Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, DA Davidson raised their target price on shares of Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $155.07.

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.