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

Datadog, Inc. (NASDAQ:DDOG) was the target of a large growth in short interest in 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 volume of 3,050,000 shares, the days-to-cover ratio is presently 3.2 days.

Insider Activity at Datadog

In related news, Director Matthew Jacobson sold 3,393 shares of Datadog stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $125.03, for a total value of $424,226.79. Following the sale, the director now directly owns 695,086 shares in the company, valued at $86,906,602.58. This trade represents a 0.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Kerry Acocella sold 2,452 shares of the company’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $120.06, for a total transaction of $294,387.12. Following the completion of the transaction, the general counsel now owns 74,421 shares of the company’s stock, valued at approximately $8,934,985.26. This trade represents a 3.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 320,579 shares of company stock worth $40,386,541 in the last 90 days. 11.78% of the stock is currently owned by company insiders.

Institutional Trading of Datadog

A number of hedge funds have recently made changes to their positions in DDOG. SouthState Corp acquired a new stake in Datadog in the second quarter valued at $26,000. True Wealth Design LLC increased its stake in shares of Datadog by 12,000.0% in the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after buying an additional 240 shares during the period. Meeder Asset Management Inc. raised its position in shares of Datadog by 66.5% during the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after acquiring an additional 115 shares during the last quarter. Quarry LP acquired a new position in shares of Datadog in the third quarter worth approximately $33,000. Finally, Blue Trust Inc. bought a new stake in Datadog in the second quarter valued at approximately $37,000. 78.29% of the stock is owned by institutional investors and hedge funds.

Datadog Stock Down 0.1 %

Shares of DDOG stock opened at $125.97 on Tuesday. Datadog has a twelve month low of $98.80 and a twelve month high of $138.61. The stock’s fifty day simple moving average is $121.59 and its 200 day simple moving average is $119.44. The firm has a market capitalization of $42.79 billion, a P/E ratio of 237.68, a P/E/G ratio of 18.85 and a beta of 1.10.

Wall Street Analyst Weigh In

DDOG has been the subject of a number of recent analyst reports. Scotiabank decreased their price objective on Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. Citigroup boosted their price target on Datadog from $150.00 to $157.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. TD Cowen raised their price target on Datadog from $160.00 to $165.00 and gave the company a “buy” rating in a report on Friday, November 8th. 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. Finally, Barclays raised their target price on shares of Datadog from $140.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $150.96.

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.