Short Interest in Datadog, Inc. (NASDAQ:DDOG) Declines By 5.3%

Datadog, Inc. (NASDAQ:DDOG) saw a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 8,090,000 shares, a drop of 5.3% from the August 31st total of 8,540,000 shares. Based on an average daily volume of 3,380,000 shares, the short-interest ratio is currently 2.4 days.

Analyst Ratings Changes

A number of analysts have recently weighed in on DDOG shares. DA Davidson raised shares of Datadog from a “neutral” rating to a “buy” rating and raised their price target for the stock from $115.00 to $140.00 in a research report on Tuesday. Barclays decreased their price objective on shares of Datadog from $145.00 to $140.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Needham & Company LLC decreased their price objective on shares of Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a report on Friday, August 9th. BTIG Research raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective for the company in a report on Thursday, August 1st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $151.00 price objective on shares of Datadog in a report on Friday, August 9th. Four analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Datadog has a consensus rating of “Moderate Buy” and an average target price of $139.89.

Insider Activity

In other news, CEO Olivier Pomel sold 200,993 shares of Datadog stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $131.01, for a total transaction of $26,332,092.93. Following the sale, the chief executive officer now owns 324,539 shares in the company, valued at $42,517,854.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Olivier Pomel sold 200,993 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $131.01, for a total transaction of $26,332,092.93. Following the completion of the sale, the chief executive officer now owns 324,539 shares of the company’s stock, valued at $42,517,854.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew Jacobson sold 9,256 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the sale, the director now directly owns 48,411 shares of the company’s stock, valued at approximately $5,230,808.55. The disclosure for this sale can be found here. Insiders have sold 422,991 shares of company stock worth $50,448,980 over the last 90 days. Company insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

Several institutional investors and hedge funds have recently added to or reduced their stakes in DDOG. Kodai Capital Management LP acquired a new stake in Datadog in the 1st quarter worth approximately $116,054,000. 1832 Asset Management L.P. lifted its holdings in shares of Datadog by 47.9% during the fourth quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock worth $317,955,000 after buying an additional 848,000 shares during the last quarter. DNB Asset Management AS lifted its holdings in shares of Datadog by 1,974.5% during the second quarter. DNB Asset Management AS now owns 847,600 shares of the company’s stock worth $109,925,000 after buying an additional 806,741 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Datadog by 1,597.9% during the second quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company’s stock worth $101,841,000 after buying an additional 739,011 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Datadog by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 27,259,414 shares of the company’s stock worth $3,308,748,000 after buying an additional 734,539 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Stock Performance

DDOG opened at $113.98 on Wednesday. The business has a 50 day moving average price of $113.51 and a 200 day moving average price of $119.22. Datadog has a twelve month low of $77.81 and a twelve month high of $138.61. The firm has a market cap of $38.13 billion, a P/E ratio of 356.19, a price-to-earnings-growth ratio of 28.94 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last posted its earnings results on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.06. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The firm had revenue of $645.28 million during the quarter, compared to analyst estimates of $624.92 million. During the same period in the previous year, the company earned $0.36 EPS. The company’s revenue for the quarter was up 26.7% on a year-over-year basis. As a group, analysts anticipate that Datadog will post 0.42 earnings per share for the current fiscal year.

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.