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

Datadog, Inc. (NASDAQ:DDOG) was the recipient of a large drop in short interest in 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 presently 3.3 days.

Datadog Price Performance

Shares of DDOG stock traded up $1.61 on Friday, reaching $138.40. 3,468,651 shares of the company were exchanged, compared to its average volume of 2,744,932. The company has a 50-day moving average of $146.03 and a 200-day moving average of $128.60. The company has a market cap of $47.02 billion, a price-to-earnings ratio of 261.14, a PEG ratio of 16.31 and a beta of 1.14. Datadog has a one year low of $98.80 and a one year high of $170.08.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Cantor Fitzgerald initiated coverage on Datadog in a research report on Friday. They set an “overweight” rating and a $180.00 price objective on the stock. Morgan Stanley restated an “equal weight” rating and set a $143.00 price target on shares of Datadog in a report on Thursday. Sanford C. Bernstein dropped their price objective on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Loop Capital lifted their target price on shares of Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Finally, Mizuho upped their price target on shares of Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.45.

Insider Buying and Selling at Datadog

In other news, Director Matthew Jacobson sold 3,393 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $125.03, for a total value of $424,226.79. Following the completion of the transaction, the director now owns 695,086 shares of the company’s stock, valued at approximately $86,906,602.58. This represents a 0.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Olivier Pomel sold 178,723 shares of Datadog stock in a transaction that occurred 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 sale, the chief executive officer now directly 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 617,679 shares of company stock valued at $88,668,671. 11.78% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in DDOG. Envestnet Asset Management Inc. raised its position in shares of Datadog by 8.0% during the second quarter. Envestnet Asset Management Inc. now owns 356,011 shares of the company’s stock worth $46,171,000 after purchasing an additional 26,431 shares during the period. Dimensional Fund Advisors LP raised its holdings in Datadog by 10.8% during the second quarter. Dimensional Fund Advisors LP now owns 306,402 shares of the company’s stock worth $39,735,000 after buying an additional 29,890 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in shares of Datadog by 156.3% in the second quarter. Mercer Global Advisors Inc. ADV now owns 9,208 shares of the company’s stock valued at $1,196,000 after buying an additional 5,615 shares in the last quarter. Amalgamated Bank grew its holdings in shares of Datadog by 6.5% during the second quarter. Amalgamated Bank now owns 20,202 shares of the company’s stock valued at $2,620,000 after buying an additional 1,236 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in shares of Datadog by 3.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,423 shares of the company’s stock worth $1,999,000 after acquiring an additional 486 shares in the last quarter. Institutional investors own 78.29% of the company’s stock.

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.