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

Datadog, Inc. (NASDAQ:DDOG) was the target of a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 11,310,000 shares, a decrease of 12.4% from the February 28th total of 12,910,000 shares. Currently, 3.8% of the company’s stock are short sold. Based on an average trading volume of 4,960,000 shares, the short-interest ratio is currently 2.3 days.

Insider Activity

In other Datadog news, CEO Olivier Pomel sold 11,195 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $139.86, for a total transaction of $1,565,732.70. Following the transaction, the chief executive officer now owns 379,693 shares in the company, valued at $53,103,862.98. This trade represents a 2.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $102.15, for a total transaction of $12,983,775.75. Following the completion of the sale, the chief technology officer now owns 371,865 shares of the company’s stock, valued at $37,986,009.75. The trade was a 25.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 601,412 shares of company stock valued at $75,444,584. Insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions 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 acquiring an additional 240 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new stake in shares of Datadog in the fourth quarter valued at approximately $30,000. Avior Wealth Management LLC raised its position in Datadog by 55.9% in the 4th 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 last quarter. Putney Financial Group LLC acquired a new position in Datadog during the 4th quarter worth $32,000. Finally, Quarry LP acquired a new stake in shares of Datadog in the 3rd quarter valued at $33,000. 78.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on DDOG shares. Royal Bank of Canada boosted their price objective on Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Rosenblatt Securities upped their price target on Datadog from $148.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Loop Capital raised their price objective on shares of Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Barclays cut their target price on shares of Datadog from $187.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Finally, Jefferies Financial Group dropped their price objective on shares of Datadog from $170.00 to $150.00 and set a “buy” rating on the stock in a report on Monday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $157.22.

Datadog Stock Down 6.4 %

NASDAQ:DDOG traded down $6.51 on Thursday, reaching $95.20. The stock had a trading volume of 1,009,077 shares, compared to its average volume of 4,189,631. The company has a market capitalization of $32.63 billion, a P/E ratio of 187.18, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22. Datadog has a 1-year low of $95.22 and a 1-year high of $170.08. The stock has a fifty day moving average price of $121.49 and a 200-day moving average price of $130.62.

Datadog (NASDAQ:DDOG) last announced its earnings results 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 return on equity of 8.28% and a net margin of 6.85%. Sell-side analysts predict that Datadog will post 0.34 earnings per share for the current fiscal year.

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.