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

Datadog, Inc. (NASDAQ:DDOG) was the target of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 16,020,000 shares, a growth of 40.9% from the November 15th total of 11,370,000 shares. Based on an average daily trading volume, of 4,270,000 shares, the short-interest ratio is presently 3.8 days.

Datadog Price Performance

Shares of NASDAQ:DDOG traded up $0.51 during midday trading on Friday, hitting $157.24. 194,587 shares of the company’s stock were exchanged, compared to its average volume of 4,020,718. The stock has a 50 day moving average price of $136.12 and a 200-day moving average price of $123.67. The company has a market cap of $53.42 billion, a PE ratio of 295.72, a price-to-earnings-growth ratio of 20.27 and a beta of 1.11. Datadog has a 12 month low of $98.80 and a 12 month high of $170.08.

Insider Buying and Selling

In other news, General Counsel Kerry Acocella sold 2,452 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $120.06, for a total transaction of $294,387.12. Following the transaction, the general counsel now directly owns 74,421 shares of the company’s stock, valued at approximately $8,934,985.26. This trade represents a 3.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Shardul Shah sold 15,832 shares of Datadog stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $120.02, for a total transaction of $1,900,156.64. Following the completion of the sale, the director now owns 459,449 shares of the company’s stock, valued at approximately $55,143,068.98. The trade was a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 713,446 shares of company stock valued at $97,145,034. Company insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

Large investors have recently added to or reduced their stakes in the stock. Peapack Gladstone Financial Corp boosted its holdings in Datadog by 39.9% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 5,140 shares of the company’s stock worth $591,000 after buying an additional 1,465 shares during the period. Tidal Investments LLC grew its position in shares of Datadog by 27.6% in the third quarter. Tidal Investments LLC now owns 28,295 shares of the company’s stock valued at $3,256,000 after purchasing an additional 6,119 shares in the last quarter. Blankinship & Foster LLC bought a new stake in shares of Datadog during the 3rd quarter valued at $351,000. Wilmington Savings Fund Society FSB purchased a new stake in Datadog during the 3rd quarter worth about $625,000. Finally, Sanctuary Advisors LLC boosted its stake in Datadog by 106.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 15,018 shares of the company’s stock worth $1,728,000 after purchasing an additional 7,757 shares during the period. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. UBS Group reaffirmed an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. Truist Financial upped their price target on shares of Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday. Macquarie began coverage on Datadog in a report on Thursday. They set an “outperform” rating and a $200.00 price target for the company. Rosenblatt Securities raised their price objective on Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Citigroup lifted their target price on Datadog from $150.00 to $157.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $155.07.

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.