Datadog, Inc. (NASDAQ:DDOG) Short Interest Update

Datadog, Inc. (NASDAQ:DDOG) was the recipient of a significant decline in short interest in the month of February. As of February 15th, there was short interest totalling 11,720,000 shares, a decline of 11.8% from the January 31st total of 13,290,000 shares. Based on an average daily volume of 5,260,000 shares, the days-to-cover ratio is currently 2.2 days.

Datadog Stock Down 3.0 %

Shares of NASDAQ DDOG traded down $3.48 during midday trading on Thursday, hitting $111.62. 3,726,421 shares of the company’s stock were exchanged, compared to its average volume of 3,988,167. The firm has a market capitalization of $38.26 billion, a PE ratio of 218.83, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22. Datadog has a 12 month low of $98.80 and a 12 month high of $170.08. The company’s 50 day moving average price is $136.50 and its 200 day moving average price is $131.85.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a net margin of 6.85% and a return on equity of 8.28%. On average, equities research analysts anticipate that Datadog will post 0.34 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DDOG. JMP Securities reissued a “market perform” rating on shares of Datadog in a research note on Friday, February 14th. Guggenheim reissued a “neutral” rating on shares of Datadog in a research report on Wednesday, January 22nd. TD Cowen reaffirmed a “buy” rating and issued a $165.00 price objective on shares of Datadog in a research report on Tuesday, November 19th. Macquarie reiterated an “outperform” rating and set a $200.00 target price on shares of Datadog in a report on Tuesday, February 11th. Finally, Cantor Fitzgerald assumed coverage on Datadog in a report on Friday, January 17th. They issued an “overweight” rating and a $180.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $158.70.

Insider Activity at Datadog

In other news, CEO Olivier Pomel sold 178,723 shares of Datadog stock in a transaction on Monday, December 9th. The shares were sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the transaction, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at $61,236,887.04. This trade represents a 32.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Amit Agarwal sold 25,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $114.21, for a total transaction of $2,855,250.00. Following the completion of the sale, the director now owns 82,324 shares of the company’s stock, valued at approximately $9,402,224.04. This represents a 23.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 589,353 shares of company stock worth $86,544,020. 11.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DDOG. Retirement Wealth Solutions LLC acquired a new stake in Datadog during the 4th quarter worth approximately $30,000. Putney Financial Group LLC bought a new position in Datadog during the 4th quarter worth $32,000. Avior Wealth Management LLC lifted its holdings in shares of Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after buying an additional 81 shares in the last quarter. Elequin Capital LP bought a new stake in shares of Datadog in the fourth quarter valued at about $34,000. Finally, True Wealth Design LLC grew its stake in shares of Datadog by 12,000.0% in the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after acquiring an additional 240 shares in the last quarter. 78.29% of the stock is owned by institutional investors.

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.