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

Datadog, Inc. (NASDAQ:DDOG) was the target of a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 14,300,000 shares, a drop of 7.2% from the December 15th total of 15,410,000 shares. Based on an average daily volume of 4,400,000 shares, the days-to-cover ratio is currently 3.3 days.

Insider Transactions at Datadog

In other news, CEO Olivier Pomel sold 178,723 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the sale, the chief executive officer now owns 379,693 shares in the company, valued at $61,236,887.04. This trade represents a 32.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total value of $17,948,497.05. Following the sale, the chief technology officer now owns 324,778 shares in the company, valued at $45,861,901.38. This trade represents a 28.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 617,679 shares of company stock worth $88,668,671 over the last quarter. 11.78% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Datadog

Hedge funds and other institutional investors have recently made changes to their positions in the business. True Wealth Design LLC lifted its position in 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 purchasing an additional 240 shares during the period. Retirement Wealth Solutions LLC acquired a new stake in Datadog in the fourth quarter worth approximately $30,000. Avior Wealth Management LLC lifted its position in Datadog by 55.9% in the fourth 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 period. Meeder Asset Management Inc. lifted its position in Datadog by 66.5% in the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after purchasing an additional 115 shares during the period. Finally, Quarry LP acquired a new stake in Datadog in the third quarter worth approximately $33,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Price Performance

Shares of NASDAQ DDOG traded up $1.61 during midday trading on Monday, hitting $138.40. 3,468,651 shares of the company’s stock were exchanged, compared to its average volume of 2,744,932. The stock’s 50 day moving average price is $146.03 and its 200-day moving average price is $128.58. The firm has a market cap of $47.02 billion, a P/E ratio of 261.14, a PEG ratio of 16.31 and a beta of 1.14. Datadog has a twelve month low of $98.80 and a twelve month high of $170.08.

Wall Street Analyst Weigh In

DDOG has been the topic of a number of research analyst reports. Royal Bank of Canada lifted their target price on Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Citigroup lifted their target price on Datadog from $157.00 to $170.00 and gave the company a “buy” rating in a report on Friday. Jefferies Financial Group boosted their price objective on Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. DA Davidson boosted their price objective on Datadog from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, UBS Group restated an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-six have issued a buy rating and two have given 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 $158.45.

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.