Datadog, Inc. (NASDAQ:DDOG) Short Interest Update

Datadog, Inc. (NASDAQ:DDOG) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 9,800,000 shares, a growth of 8.2% from the October 15th total of 9,060,000 shares. Based on an average daily trading volume, of 3,050,000 shares, the short-interest ratio is currently 3.2 days.

Datadog Stock Down 0.1 %

NASDAQ DDOG opened at $125.97 on Tuesday. The company has a market cap of $42.79 billion, a PE ratio of 237.68, a price-to-earnings-growth ratio of 18.85 and a beta of 1.10. The firm’s 50-day simple moving average is $121.59 and its two-hundred day simple moving average is $119.44. Datadog has a 52 week low of $98.80 and a 52 week high of $138.61.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on DDOG shares. BTIG Research upgraded Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price target on the stock in a report on Thursday, August 1st. Sanford C. Bernstein dropped their price objective on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. Scotiabank dropped their price target on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. Barclays boosted their price objective on Datadog from $140.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $150.00 target price on shares of Datadog in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Datadog currently has an average rating of “Moderate Buy” and an average price target of $150.96.

Insider Buying and Selling

In other Datadog news, Director Matthew Jacobson sold 9,256 shares of Datadog stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total value of $1,000,110.80. Following the completion of the sale, the director now directly owns 48,411 shares in the company, valued at approximately $5,230,808.55. The trade was a 16.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Kerry Acocella sold 2,452 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $120.06, for a total value of $294,387.12. Following the transaction, the general counsel now owns 74,421 shares in the company, valued at $8,934,985.26. The trade was a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 320,579 shares of company stock valued at $40,386,541 over the last quarter. Insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. SouthState Corp purchased a new position in shares of Datadog in the second quarter valued at $26,000. True Wealth Design LLC raised its position in Datadog by 12,000.0% in the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after purchasing an additional 240 shares during the period. Meeder Asset Management Inc. raised its holdings in shares of Datadog by 66.5% in the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after buying an additional 115 shares during the period. Quarry LP purchased a new stake in Datadog in the third quarter worth $33,000. Finally, Blue Trust Inc. bought a new stake in Datadog during the 2nd quarter valued at about $37,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

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.