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

Datadog, Inc. (NASDAQ:DDOG) was the recipient of a significant increase in short interest in 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 daily volume of 3,810,000 shares, the short-interest ratio is presently 3.0 days.

Insider Transactions at Datadog

In other Datadog news, Director Shardul Shah sold 15,832 shares of Datadog stock in a transaction on Friday, October 4th. The shares were sold at an average price of $120.02, for a total transaction of $1,900,156.64. Following the completion of the transaction, the director now directly owns 459,449 shares of the company’s stock, valued at $55,143,068.98. The trade was a 3.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Sean Michael Walters sold 2,322 shares of the firm’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $125.00, for a total value of $290,250.00. Following the transaction, the executive now owns 183,512 shares in the company, valued at approximately $22,939,000. This represents a 1.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 541,491 shares of company stock valued at $68,927,496 over the last three months. Corporate insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Peapack Gladstone Financial Corp grew its position in Datadog by 39.9% during the third quarter. Peapack Gladstone Financial Corp now owns 5,140 shares of the company’s stock valued at $591,000 after acquiring an additional 1,465 shares during the period. Tidal Investments LLC increased its holdings in shares of Datadog by 27.6% in the 3rd quarter. Tidal Investments LLC now owns 28,295 shares of the company’s stock worth $3,256,000 after acquiring an additional 6,119 shares during the period. Blankinship & Foster LLC bought a new position in Datadog in the 3rd quarter valued at about $351,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Datadog during the 3rd quarter valued at $625,000. Finally, Sanctuary Advisors LLC increased its position in Datadog by 106.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 15,018 shares of the company’s stock worth $1,728,000 after purchasing an additional 7,757 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DDOG. Needham & Company LLC dropped their price objective on shares of Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Barclays increased their price objective on Datadog from $140.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Sanford C. Bernstein cut their price target on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Monday, October 21st. BMO Capital Markets boosted their price objective on shares of Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Citigroup lifted their price target on shares of Datadog from $150.00 to $157.00 and gave the company a “buy” 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 given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Datadog presently has an average rating of “Moderate Buy” and a consensus price target of $150.96.

Datadog Price Performance

DDOG traded up $2.13 during trading on Tuesday, reaching $155.01. 4,214,089 shares of the stock were exchanged, compared to its average volume of 3,949,029. Datadog has a 1 year low of $98.80 and a 1 year high of $157.48. The company has a market capitalization of $52.66 billion, a price-to-earnings ratio of 292.48, a P/E/G ratio of 20.01 and a beta of 1.11. The business’s 50 day moving average price is $129.72 and its two-hundred day moving average price is $121.79.

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.