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 the month of 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 trading volume, of 4,400,000 shares, the short-interest ratio is currently 3.3 days.

Insiders Place Their Bets

In related news, Director Matthew Jacobson sold 3,393 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $125.03, for a total transaction of $424,226.79. Following the sale, the director now directly owns 695,086 shares in the company, valued at $86,906,602.58. This trade represents a 0.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Amit Agarwal sold 150,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $126.03, for a total transaction of $18,904,500.00. Following the completion of the transaction, the president now directly owns 214,275 shares of the company’s stock, valued at approximately $27,005,078.25. The trade was a 41.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 617,679 shares of company stock worth $88,668,671. Company insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DDOG. New Century Financial Group LLC grew its position in Datadog by 64.8% during the fourth quarter. New Century Financial Group LLC now owns 3,493 shares of the company’s stock worth $506,000 after buying an additional 1,373 shares in the last quarter. Donoghue Forlines LLC grew its holdings in shares of Datadog by 196.3% during the 4th quarter. Donoghue Forlines LLC now owns 13,653 shares of the company’s stock worth $1,951,000 after purchasing an additional 9,045 shares in the last quarter. Avior Wealth Management LLC increased its position in shares of Datadog by 55.9% in the fourth 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 period. Janney Montgomery Scott LLC raised its stake in Datadog by 14.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 6,214 shares of the company’s stock valued at $888,000 after purchasing an additional 764 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in Datadog by 149.5% during the fourth quarter. SG Americas Securities LLC now owns 18,372 shares of the company’s stock worth $2,625,000 after purchasing an additional 11,009 shares during the period. 78.29% of the stock is owned by institutional investors.

Datadog Stock Performance

NASDAQ:DDOG traded up $1.61 during mid-day trading on Friday, reaching $138.40. 3,468,651 shares of the company’s stock were exchanged, compared to its average volume of 2,744,932. Datadog has a one year low of $98.80 and a one year high of $170.08. The business’s fifty day simple moving average is $146.03 and its two-hundred day simple moving average is $128.60. The firm has a market capitalization of $47.02 billion, a PE ratio of 261.14, a price-to-earnings-growth ratio of 16.31 and a beta of 1.14.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on DDOG shares. Macquarie assumed coverage on Datadog in a research note on Thursday, December 12th. They issued an “outperform” rating and a $200.00 target price on the stock. Monness Crespi & Hardt raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a research report on Thursday, November 7th. Truist Financial lowered shares of Datadog from a “buy” rating to a “hold” rating and lowered their price target for the company from $170.00 to $150.00 in a research note on Tuesday, January 7th. Jefferies Financial Group lifted their target price on Datadog from $155.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, Scotiabank lowered their price target on Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $158.45.

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.