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

Datadog, Inc. (NASDAQ:DDOG) was the target of a significant growth in short interest in 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 days-to-cover ratio is presently 3.2 days.

Datadog Trading Down 0.1 %

Shares of Datadog stock opened at $125.97 on Tuesday. The business has a 50-day moving average price of $121.59 and a two-hundred day moving average price of $119.44. Datadog has a 1-year low of $98.80 and a 1-year high of $138.61. The company has a market cap of $42.79 billion, a P/E ratio of 237.68, a PEG ratio of 18.85 and a beta of 1.10.

Analyst Ratings Changes

DDOG has been the subject of several recent analyst reports. Monness Crespi & Hardt upgraded Datadog from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a research note on Thursday, November 7th. BTIG Research upgraded Datadog from a “neutral” rating to a “buy” rating and set a $143.00 target price for the company in a research note on Thursday, August 1st. Rosenblatt Securities upped their target price on Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. DA Davidson increased their price target on Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Robert W. Baird increased their price target on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. One 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.96.

Insider Buying and Selling

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $129.33, for a total transaction of $16,438,489.65. Following the sale, the chief technology officer now owns 336,165 shares of the company’s stock, valued at $43,476,219.45. This represents a 27.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Matthew Jacobson sold 3,393 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $125.03, for a total value of $424,226.79. Following the sale, the director now owns 695,086 shares of the company’s stock, valued at $86,906,602.58. The trade was a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 320,579 shares of company stock valued at $40,386,541 over the last 90 days. 11.78% of the stock is owned by corporate insiders.

Institutional Trading of Datadog

A number of large investors have recently bought and sold shares of the business. Arete Wealth Advisors LLC acquired a new stake in Datadog during the 3rd quarter worth about $403,000. Teachers Retirement System of The State of Kentucky grew its holdings in Datadog by 2.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 83,230 shares of the company’s stock worth $9,577,000 after acquiring an additional 2,050 shares during the period. Toronto Dominion Bank grew its holdings in Datadog by 48.3% during the 3rd quarter. Toronto Dominion Bank now owns 43,740 shares of the company’s stock worth $5,033,000 after acquiring an additional 14,241 shares during the period. Coldstream Capital Management Inc. grew its holdings in Datadog by 10.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,024 shares of the company’s stock worth $467,000 after acquiring an additional 369 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Datadog by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,185,557 shares of the company’s stock worth $595,438,000 after acquiring an additional 125,457 shares during the period. 78.29% of the stock is currently owned by institutional investors and hedge funds.

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.