Short Interest in Datadog, Inc. (NASDAQ:DDOG) Rises By 5.5%

Datadog, Inc. (NASDAQ:DDOG) was the target of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 10,290,000 shares, a growth of 5.5% from the March 31st total of 9,750,000 shares. Based on an average trading volume of 4,070,000 shares, the days-to-cover ratio is presently 2.5 days.

Insider Buying and Selling at Datadog

In related news, CFO David M. Obstler sold 70,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $120.73, for a total value of $8,451,100.00. Following the completion of the sale, the chief financial officer now owns 275,191 shares of the company’s stock, valued at $33,223,809.43. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO David M. Obstler sold 70,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $120.73, for a total value of $8,451,100.00. Following the completion of the sale, the chief financial officer now owns 275,191 shares of the company’s stock, valued at $33,223,809.43. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Olivier Pomel sold 23,924 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $130.05, for a total value of $3,111,316.20. Following the completion of the sale, the chief executive officer now directly owns 337,247 shares of the company’s stock, valued at approximately $43,858,972.35. The disclosure for this sale can be found here. Insiders sold 759,908 shares of company stock valued at $97,728,997 over the last quarter. 11.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Datadog

A number of institutional investors have recently added to or reduced their stakes in DDOG. Asset Management One Co. Ltd. boosted its holdings in Datadog by 1.2% in the 3rd quarter. Asset Management One Co. Ltd. now owns 98,883 shares of the company’s stock valued at $9,007,000 after purchasing an additional 1,147 shares in the last quarter. Simplicity Solutions LLC boosted its holdings in Datadog by 7.6% in the 3rd quarter. Simplicity Solutions LLC now owns 3,979 shares of the company’s stock valued at $362,000 after purchasing an additional 282 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Datadog by 3.0% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 58,700 shares of the company’s stock valued at $5,347,000 after purchasing an additional 1,700 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Datadog by 96.4% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 33,433 shares of the company’s stock valued at $3,045,000 after purchasing an additional 16,410 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Datadog by 270.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 148,450 shares of the company’s stock worth $13,522,000 after acquiring an additional 108,418 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Stock Performance

Shares of DDOG stock opened at $125.46 on Friday. The stock has a market capitalization of $41.64 billion, a PE ratio of 1,045.50 and a beta of 1.14. Datadog has a 52-week low of $63.00 and a 52-week high of $138.61. The stock’s 50-day moving average price is $125.09 and its 200 day moving average price is $118.05. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.37.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. The firm had revenue of $589.65 million for the quarter, compared to analysts’ expectations of $568.73 million. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The firm’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.08) EPS. As a group, equities research analysts forecast that Datadog will post -0.14 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on DDOG shares. Citigroup raised their target price on Datadog from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, January 22nd. Wolfe Research raised their target price on Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 14th. Stifel Nicolaus reissued a “buy” rating and set a $152.00 target price on shares of Datadog in a research note on Monday, April 22nd. Cantor Fitzgerald restated an “overweight” rating and set a $150.00 price target on shares of Datadog in a research report on Wednesday, April 17th. Finally, Mizuho raised their price target on Datadog from $108.00 to $130.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Five research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Datadog has an average rating of “Moderate Buy” and a consensus price target of $131.70.

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.