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

Datadog, Inc. (NASDAQ:DDOG) was the recipient of a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 8,090,000 shares, a decrease 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 days-to-cover ratio is currently 2.4 days.

Analyst Ratings Changes

DDOG has been the subject of a number of research analyst reports. Needham & Company LLC cut their price target 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. Evercore ISI initiated coverage on shares of Datadog in a report on Monday, July 15th. They issued an “outperform” rating and a $150.00 price target for the company. Loop Capital reiterated a “buy” rating and issued a $160.00 price target on shares of Datadog in a report on Friday, July 5th. Monness Crespi & Hardt upgraded shares of Datadog from a “sell” rating to a “neutral” rating in a report on Wednesday, August 7th. Finally, Mizuho upgraded shares of Datadog from a “neutral” rating to an “outperform” rating and increased their price target for the company from $135.00 to $155.00 in a report on Tuesday, July 16th. Four investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.89.

Datadog Stock Performance

DDOG opened at $113.98 on Wednesday. The company’s 50 day simple moving average is $113.51 and its 200 day simple moving average is $119.22. Datadog has a 1 year low of $77.81 and a 1 year high of $138.61. The stock has a market capitalization of $38.13 billion, a PE ratio of 356.19, a P/E/G ratio of 28.94 and a beta of 1.11.

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

Insider Activity at Datadog

In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $104.21, for a total transaction of $8,924,231.77. Following the completion of the transaction, the chief executive officer now owns 405,314 shares in the company, valued at approximately $42,237,771.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $104.21, for a total transaction of $8,924,231.77. Following the completion of the transaction, the chief executive officer now owns 405,314 shares in the company, valued at approximately $42,237,771.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Matthew Jacobson sold 9,256 shares of the company’s stock in a transaction 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 transaction, the director now 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 sold a total of 422,991 shares of company stock worth $50,448,980 in the last 90 days. 11.78% of the stock is owned by insiders.

Institutional Investors Weigh In On Datadog

Several hedge funds have recently modified their holdings of DDOG. SouthState Corp purchased a new position in Datadog in the second quarter valued at approximately $26,000. Riverview Trust Co purchased a new position in Datadog in the first quarter valued at approximately $26,000. Raleigh Capital Management Inc. purchased a new position in Datadog in the fourth quarter valued at approximately $29,000. Jones Financial Companies Lllp purchased a new position in Datadog in the fourth quarter valued at approximately $33,000. Finally, Blue Trust Inc. purchased a new position in Datadog in the second quarter valued at approximately $37,000. 78.29% of the stock is owned by institutional investors and hedge funds.

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.