Datadog, Inc. (NASDAQ:DDOG) Short Interest Down 11.6% in January

Datadog, Inc. (NASDAQ:DDOG) was the recipient of a large drop in short interest in January. As of January 31st, there was short interest totalling 13,290,000 shares, a drop of 11.6% from the January 15th total of 15,040,000 shares. Based on an average daily volume of 4,910,000 shares, the days-to-cover ratio is presently 2.7 days.

Datadog Stock Performance

Shares of DDOG stock traded down $0.38 during mid-day trading on Tuesday, hitting $130.63. The company’s stock had a trading volume of 8,965,932 shares, compared to its average volume of 5,114,028. The company’s fifty day simple moving average is $144.49 and its 200-day simple moving average is $131.36. Datadog has a 52 week low of $98.80 and a 52 week high of $170.08. The company has a market cap of $44.38 billion, a PE ratio of 246.48, a P/E/G ratio of 16.83 and a beta of 1.15.

Datadog (NASDAQ:DDOG) last issued its earnings results on Thursday, February 13th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a net margin of 7.58% and a return on equity of 9.41%. On average, equities analysts anticipate that Datadog will post 0.53 earnings per share for the current year.

Insider Buying and Selling at Datadog

In other Datadog news, CFO David M. Obstler sold 33,334 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $135.95, for a total value of $4,531,757.30. Following the sale, the chief financial officer now owns 314,158 shares of the company’s stock, valued at approximately $42,709,780.10. This trade represents a 9.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Olivier Pomel sold 178,723 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 379,693 shares in the company, valued at approximately $61,236,887.04. This represents a 32.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 627,586 shares of company stock valued at $92,540,479. 11.78% of the stock is currently owned by corporate insiders.

Institutional Trading of Datadog

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DDOG. True Wealth Design LLC increased its position in Datadog by 12,000.0% in the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after buying an additional 240 shares in the last quarter. Retirement Wealth Solutions LLC bought a new stake in Datadog in the 4th quarter valued at about $30,000. Avior Wealth Management LLC increased its position in Datadog by 55.9% in the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after buying an additional 81 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in Datadog by 66.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after purchasing an additional 115 shares in the last quarter. Finally, Quarry LP bought a new stake in Datadog during the 3rd quarter worth approximately $33,000. 78.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

DDOG has been the topic of a number of research analyst reports. Cantor Fitzgerald initiated coverage on Datadog in a report on Friday, January 17th. They issued an “overweight” rating and a $180.00 target price on the stock. Loop Capital raised their price objective on Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Robert W. Baird raised their price objective on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Rosenblatt Securities raised their price objective on Datadog from $148.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, Wolfe Research downgraded Datadog from an “outperform” rating to a “peer perform” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Datadog has a consensus rating of “Moderate Buy” and an average target price of $158.39.

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.