Datadog, Inc. (NASDAQ:DDOG) Short Interest Down 9.4% in July

Datadog, Inc. (NASDAQ:DDOG) saw a significant drop in short interest in July. As of July 15th, there was short interest totalling 9,850,000 shares, a drop of 9.4% from the June 30th total of 10,870,000 shares. Based on an average daily trading volume, of 4,060,000 shares, the short-interest ratio is presently 2.4 days.

Datadog Stock Performance

Shares of NASDAQ DDOG traded down $2.81 during midday trading on Thursday, hitting $113.63. The company’s stock had a trading volume of 1,417,039 shares, compared to its average volume of 4,016,234. Datadog has a 1-year low of $77.81 and a 1-year high of $138.61. The firm’s fifty day moving average price is $120.89 and its 200-day moving average price is $123.87. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.43 and a current ratio of 3.43. The firm has a market cap of $38.01 billion, a P/E ratio of 363.88, a P/E/G ratio of 37.76 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.20. Datadog had a net margin of 5.11% and a return on equity of 7.48%. The business had revenue of $611.25 million during the quarter, compared to analyst estimates of $589.97 million. On average, sell-side analysts forecast that Datadog will post 0.32 EPS for the current fiscal year.

Insider Buying and Selling at Datadog

In other Datadog news, CEO Olivier Pomel sold 98,690 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $109.16, for a total value of $10,773,000.40. Following the completion of the transaction, the chief executive officer now directly owns 324,539 shares of the company’s stock, valued at $35,426,677.24. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $130.75, for a total value of $16,618,978.75. Following the sale, the chief technology officer now directly owns 279,025 shares in the company, valued at $36,482,518.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Olivier Pomel sold 98,690 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $109.16, for a total transaction of $10,773,000.40. Following the completion of the sale, the chief executive officer now owns 324,539 shares in the company, valued at $35,426,677.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 857,606 shares of company stock valued at $103,799,779. Corporate insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. GraniteShares Advisors LLC boosted its stake in Datadog by 25.9% during the 2nd quarter. GraniteShares Advisors LLC now owns 7,456 shares of the company’s stock valued at $967,000 after purchasing an additional 1,535 shares during the period. WR Wealth Planners LLC boosted its stake in Datadog by 31.6% during the 2nd quarter. WR Wealth Planners LLC now owns 433 shares of the company’s stock valued at $56,000 after purchasing an additional 104 shares during the period. nVerses Capital LLC acquired a new position in Datadog during the 2nd quarter valued at about $752,000. Picton Mahoney Asset Management boosted its stake in Datadog by 30.3% during the 2nd quarter. Picton Mahoney Asset Management now owns 37,166 shares of the company’s stock valued at $4,820,000 after purchasing an additional 8,635 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in Datadog by 399.5% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,993 shares of the company’s stock valued at $260,000 after purchasing an additional 1,594 shares during the period. 78.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Stifel Nicolaus restated a “buy” rating and set a $152.00 target price on shares of Datadog in a research report on Monday, April 22nd. Wells Fargo & Company upgraded shares of Datadog from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $130.00 to $150.00 in a research report on Tuesday, April 23rd. Rosenblatt Securities restated a “buy” rating and set a $146.00 target price on shares of Datadog in a research report on Monday, May 6th. Needham & Company LLC restated a “buy” rating and set a $165.00 target price on shares of Datadog in a research report on Thursday, June 27th. Finally, Monness Crespi & Hardt restated a “sell” rating and set a $98.00 target price (down previously from $290.00) on shares of Datadog in a research report on Friday, June 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Datadog currently has a consensus rating of “Moderate Buy” and an average price target of $138.37.

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.