Datadog, Inc. (NASDAQ:DDOG) Sees Significant Decrease in Short Interest

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

Datadog Stock Down 2.9 %

Shares of DDOG traded down $3.34 during mid-day trading on Thursday, hitting $113.10. 4,254,206 shares of the company traded hands, compared to its average volume of 4,035,809. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. Datadog has a 1-year low of $77.81 and a 1-year high of $138.61. The company has a market capitalization of $37.83 billion, a PE ratio of 363.88, a price-to-earnings-growth ratio of 37.76 and a beta of 1.11. The business has a 50 day moving average of $120.89 and a 200 day moving average of $123.87.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.20. Datadog had a return on equity of 7.48% and a net margin of 5.11%. The company had revenue of $611.25 million for the quarter, compared to the consensus estimate of $589.97 million. Equities research analysts anticipate that Datadog will post 0.32 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. BMO Capital Markets decreased their price objective on shares of Datadog from $155.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, May 8th. Wells Fargo & Company raised Datadog from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $130.00 to $150.00 in a research report on Tuesday, April 23rd. Robert W. Baird upgraded shares of Datadog from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $130.00 to $140.00 in a report on Wednesday, May 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $150.00 price objective on shares of Datadog in a research report on Monday, July 22nd. Finally, Stifel Nicolaus restated a “buy” rating and set a $152.00 price target on shares of Datadog in a research note on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $138.37.

Insider Activity

In other news, insider Madre Armelle De sold 300 shares of Datadog stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $113.37, for a total value of $34,011.00. Following the completion of the sale, the insider now owns 100,053 shares of the company’s stock, valued at $11,343,008.61. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, COO Adam Blitzer sold 11,946 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $109.45, for a total transaction of $1,307,489.70. Following the completion of the transaction, the chief operating officer now directly owns 236,640 shares in the company, valued at approximately $25,900,248. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Madre Armelle De sold 300 shares of Datadog stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $113.37, for a total value of $34,011.00. Following the completion of the transaction, the insider now owns 100,053 shares of the company’s stock, valued at $11,343,008.61. The disclosure for this sale can be found here. Insiders have sold 857,606 shares of company stock worth $103,799,779 over the last three months. 11.78% of the stock is currently owned by corporate insiders.

Institutional Trading of Datadog

Several large investors have recently made changes to their positions in DDOG. Spire Wealth Management lifted its stake in Datadog by 2,148.5% in the 4th quarter. Spire Wealth Management now owns 5,329 shares of the company’s stock worth $694,000 after purchasing an additional 5,092 shares in the last quarter. Hsbc Holdings PLC grew its holdings in Datadog by 47.8% in the 4th quarter. Hsbc Holdings PLC now owns 193,390 shares of the company’s stock valued at $23,505,000 after buying an additional 62,533 shares in the last quarter. Congress Asset Management Co. MA acquired a new stake in shares of Datadog in the 1st quarter worth $1,083,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Datadog by 31.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,733,448 shares of the company’s stock worth $331,786,000 after acquiring an additional 651,244 shares during the period. Finally, Zevenbergen Capital Investments LLC boosted its position in shares of Datadog by 5.6% during the 4th quarter. Zevenbergen Capital Investments LLC now owns 165,405 shares of the company’s stock valued at $20,077,000 after acquiring an additional 8,830 shares during the last quarter. 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.