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

Datadog, Inc. (NASDAQ:DDOG) saw a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 11,370,000 shares, an increase of 16.0% from the October 31st total of 9,800,000 shares. Based on an average trading volume of 3,810,000 shares, the days-to-cover ratio is currently 3.0 days.

Insider Buying and Selling

In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $122.61, for a total value of $10,499,952.57. Following the completion of the transaction, the chief executive officer now directly owns 392,111 shares in the company, valued at approximately $48,076,729.71. The trade was a 17.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Sean Michael Walters sold 2,322 shares of the firm’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $125.00, for a total transaction of $290,250.00. Following the transaction, the executive now directly owns 183,512 shares of the company’s stock, valued at approximately $22,939,000. This trade represents a 1.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 541,491 shares of company stock valued at $68,927,496. 11.78% of the stock is owned by insiders.

Institutional Trading of Datadog

Several institutional investors and hedge funds have recently bought and sold shares of DDOG. Jennison Associates LLC raised its holdings in Datadog by 2.1% in the third quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock valued at $721,811,000 after buying an additional 126,613 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Datadog by 2.5% during the third quarter. Geode Capital Management LLC now owns 5,185,557 shares of the company’s stock valued at $595,438,000 after acquiring an additional 125,457 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Datadog by 9.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock valued at $511,620,000 after purchasing an additional 331,808 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in Datadog by 5.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,486,600 shares of the company’s stock valued at $322,487,000 after acquiring an additional 138,700 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Datadog by 2.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,024,926 shares of the company’s stock valued at $232,988,000 after purchasing an additional 46,746 shares during the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Price Performance

DDOG traded up $2.13 on Tuesday, reaching $155.01. 4,214,089 shares of the company’s stock were exchanged, compared to its average volume of 3,949,029. The stock’s fifty day moving average price is $129.72 and its 200-day moving average price is $121.79. Datadog has a twelve month low of $98.80 and a twelve month high of $157.48. The stock has a market cap of $52.66 billion, a PE ratio of 292.48, a P/E/G ratio of 20.01 and a beta of 1.11.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Citigroup raised their price target on shares of Datadog from $150.00 to $157.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Rosenblatt Securities raised their price objective on shares of Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a report on Friday, November 8th. BMO Capital Markets increased their target price on shares of Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Monness Crespi & Hardt upgraded shares of 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. Finally, Robert W. Baird upped their target price on shares of Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $150.96.

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.