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

Datadog, Inc. (NASDAQ:DDOG) was the recipient of a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 14,300,000 shares, a decline of 7.2% from the December 15th total of 15,410,000 shares. Based on an average daily trading volume, of 4,400,000 shares, the days-to-cover ratio is presently 3.3 days.

Datadog Stock Up 1.2 %

NASDAQ DDOG traded up $1.61 during mid-day trading on Monday, hitting $138.40. The stock had a trading volume of 3,468,651 shares, compared to its average volume of 2,744,932. Datadog has a 52-week low of $98.80 and a 52-week high of $170.08. The company has a market cap of $47.02 billion, a price-to-earnings ratio of 261.14, a P/E/G ratio of 16.31 and a beta of 1.14. The company has a 50 day simple moving average of $146.03 and a 200 day simple moving average of $128.58.

Insider Activity at Datadog

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total transaction of $17,948,497.05. Following the sale, the chief technology officer now owns 324,778 shares in the company, valued at $45,861,901.38. This represents a 28.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Olivier Pomel sold 178,723 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $161.28, for a total value of $28,824,445.44. Following the sale, the chief executive officer now owns 379,693 shares in the company, valued at approximately $61,236,887.04. This trade represents a 32.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 617,679 shares of company stock worth $88,668,671. 11.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Datadog

Hedge funds have recently bought and sold shares of the company. New Century Financial Group LLC increased its position in Datadog by 64.8% during the fourth quarter. New Century Financial Group LLC now owns 3,493 shares of the company’s stock worth $506,000 after buying an additional 1,373 shares in the last quarter. Donoghue Forlines LLC increased its position in Datadog by 196.3% during the fourth quarter. Donoghue Forlines LLC now owns 13,653 shares of the company’s stock worth $1,951,000 after buying an additional 9,045 shares in the last quarter. Avior Wealth Management LLC increased its position in Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after buying an additional 81 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Datadog by 14.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 6,214 shares of the company’s stock worth $888,000 after buying an additional 764 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in Datadog by 149.5% during the fourth quarter. SG Americas Securities LLC now owns 18,372 shares of the company’s stock worth $2,625,000 after buying an additional 11,009 shares in the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on DDOG. Jefferies Financial Group upped their price target on Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Citigroup increased their price objective on Datadog from $157.00 to $170.00 and gave the company a “buy” rating in a report on Friday. Morgan Stanley reiterated an “equal weight” rating and issued a $143.00 price objective on shares of Datadog in a report on Thursday. Loop Capital increased their price objective on Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Finally, Mizuho increased their price objective on Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $158.45.

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.