Short Interest in Datadog, Inc. (NASDAQ:DDOG) Decreases By 12.4%

Datadog, Inc. (NASDAQ:DDOG - Get Free Report) was the target of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 11,310,000 shares, a decrease of 12.4% from the February 28th total of 12,910,000 shares. Currently, 3.8% of the company's shares are sold short. Based on an average daily volume of 4,960,000 shares, the short-interest ratio is presently 2.3 days.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DDOG. Wolfe Research lowered shares of Datadog from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, February 18th. Guggenheim reissued a "neutral" rating on shares of Datadog in a research note on Wednesday, January 22nd. Barclays decreased their target price on Datadog from $187.00 to $180.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. Wells Fargo & Company downgraded Datadog from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $152.00 to $140.00 in a research report on Thursday, February 13th. Finally, Rosenblatt Securities raised their price target on Datadog from $148.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $157.22.

Remove Ads

Insider Buying and Selling at Datadog

In other news, Director Shardul Shah sold 7,916 shares of the business's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $142.12, for a total transaction of $1,125,021.92. Following the transaction, the director now owns 427,785 shares of the company's stock, valued at approximately $60,796,804.20. The trade was a 1.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $102.15, for a total value of $12,983,775.75. Following the completion of the sale, the chief technology officer now owns 371,865 shares of the company's stock, valued at approximately $37,986,009.75. This represents a 25.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 601,412 shares of company stock worth $75,444,584 over the last ninety days. Company insiders own 11.78% of the company's stock.

Institutional Investors Weigh In On Datadog

A number of institutional investors have recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC purchased a new position in Datadog during the fourth quarter valued at $14,884,000. ARK Investment Management LLC raised its position in shares of Datadog by 62.7% during the 4th quarter. ARK Investment Management LLC now owns 127,290 shares of the company's stock worth $18,188,000 after purchasing an additional 49,050 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its stake in Datadog by 140.1% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company's stock valued at $7,590,000 after buying an additional 30,998 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in Datadog by 15.8% in the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company's stock worth $1,558,234,000 after buying an additional 1,484,562 shares during the last quarter. Finally, Atom Investors LP purchased a new stake in Datadog during the 3rd quarter worth approximately $1,112,000. Institutional investors and hedge funds own 78.29% of the company's stock.

Datadog Trading Down 6.6 %

Shares of Datadog stock traded down $6.19 during trading hours on Friday, reaching $88.28. The stock had a trading volume of 4,168,083 shares, compared to its average volume of 4,213,904. The stock's 50 day moving average is $120.58 and its 200 day moving average is $130.37. Datadog has a twelve month low of $86.65 and a twelve month high of $170.08. The firm has a market capitalization of $30.26 billion, a PE ratio of 172.58, a PEG ratio of 44.03 and a beta of 1.20.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. As a group, sell-side analysts predict that Datadog will post 0.34 earnings per share for the current year.

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.