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 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 trading volume of 3,050,000 shares, the days-to-cover ratio is currently 3.2 days.

Insider Activity at Datadog

In related news, General Counsel Kerry Acocella sold 2,452 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $120.06, for a total value of $294,387.12. Following the transaction, the general counsel now directly owns 74,421 shares of the company’s stock, valued at approximately $8,934,985.26. This represents a 3.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Matthew Jacobson sold 9,256 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total value of $1,000,110.80. Following the completion of the transaction, the director now directly owns 48,411 shares in the company, valued at $5,230,808.55. This trade represents a 16.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 320,579 shares of company stock valued at $40,386,541. 11.78% of the stock is owned by corporate insiders.

Institutional Trading of Datadog

A number of large investors have recently modified their holdings of DDOG. SouthState Corp purchased a new stake in shares of Datadog in the second quarter valued at approximately $26,000. True Wealth Design LLC boosted its holdings 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 purchasing an additional 240 shares during the period. Meeder Asset Management Inc. boosted its holdings in shares of Datadog by 66.5% in the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after purchasing an additional 115 shares during the period. Quarry LP purchased a new stake in shares of Datadog in the third quarter valued at approximately $33,000. Finally, Blue Trust Inc. purchased a new stake in shares of Datadog in the second quarter valued at approximately $37,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Analyst Ratings Changes

DDOG has been the topic of several research analyst reports. Robert W. Baird increased their price target on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Royal Bank of Canada reissued an “outperform” rating and set a $151.00 price target on shares of Datadog in a report on Friday, August 9th. Barclays upped their price objective on Datadog from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Needham & Company LLC decreased their target price on Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Monness Crespi & Hardt raised Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Datadog currently has an average rating of “Moderate Buy” and a consensus price target of $150.96.

Datadog Trading Down 0.1 %

Shares of NASDAQ DDOG traded down $0.12 during trading hours on Monday, reaching $125.97. The stock had a trading volume of 3,075,821 shares, compared to its average volume of 3,848,544. The firm has a market cap of $42.79 billion, a price-to-earnings ratio of 237.68, a P/E/G ratio of 18.85 and a beta of 1.10. The business’s fifty day moving average price is $121.59 and its two-hundred day moving average price is $119.44. Datadog has a 52-week low of $98.80 and a 52-week high of $138.61.

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.