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

Datadog, Inc. (NASDAQ:DDOG) saw a large growth in short interest in November. As of November 30th, there was short interest totalling 16,020,000 shares, a growth of 40.9% from the November 15th total of 11,370,000 shares. Based on an average daily volume of 4,270,000 shares, the short-interest ratio is currently 3.8 days.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Monness Crespi & Hardt raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a report on Thursday, November 7th. Robert W. Baird boosted their price objective on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Scotiabank dropped their target price on Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. Truist Financial boosted their price target on Datadog from $155.00 to $170.00 and gave the company a “buy” rating in a report on Thursday. Finally, Citigroup raised their price objective 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $155.07.

Insider Buying and Selling

In other news, CEO Olivier Pomel sold 178,723 shares of the 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 transaction, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at approximately $61,236,887.04. This represents a 32.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Kerry Acocella sold 2,488 shares of Datadog stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $158.04, for a total value of $393,203.52. Following the sale, the general counsel now directly owns 68,758 shares of the company’s stock, valued at $10,866,514.32. This trade represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 713,446 shares of company stock worth $97,145,034 in the last three months. Corporate insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

Several institutional investors and hedge funds have recently added to or reduced their stakes in DDOG. Jennison Associates LLC lifted its stake in shares of Datadog by 2.1% in the third quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock worth $721,811,000 after buying an additional 126,613 shares in the last quarter. Geode Capital Management LLC lifted its stake in Datadog by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,185,557 shares of the company’s stock worth $595,438,000 after purchasing an additional 125,457 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Datadog by 9.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock worth $511,620,000 after purchasing an additional 331,808 shares during the last quarter. 1832 Asset Management L.P. grew its position in shares of Datadog by 5.9% in the second quarter. 1832 Asset Management L.P. now owns 2,486,600 shares of the company’s stock valued at $322,487,000 after purchasing an additional 138,700 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Datadog by 2.4% in 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. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Stock Performance

Shares of DDOG opened at $153.03 on Friday. The stock has a 50 day moving average price of $136.72 and a 200 day moving average price of $123.89. Datadog has a one year low of $98.80 and a one year high of $170.08. The stock has a market capitalization of $51.99 billion, a price-to-earnings ratio of 288.74, a PEG ratio of 20.27 and a beta of 1.11.

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.