Datadog, Inc. (NASDAQ:DDOG) Short Interest Down 23.2% in March

Datadog, Inc. (NASDAQ:DDOGGet Rating) was the target of a large drop in short interest in March. As of March 31st, there was short interest totalling 9,840,000 shares, a drop of 23.2% from the March 15th total of 12,810,000 shares. Currently, 4.2% of the company’s stock are short sold. Based on an average trading volume of 4,550,000 shares, the days-to-cover ratio is presently 2.2 days.

In other Datadog news, CEO Olivier Pomel sold 109,104 shares of the stock in a transaction dated Tuesday, January 25th. The shares were sold at an average price of $129.39, for a total value of $14,116,966.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Julie Richardson sold 3,906 shares of the stock in a transaction dated Tuesday, January 18th. The shares were sold at an average price of $134.34, for a total transaction of $524,732.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 405,096 shares of company stock worth $60,289,609. 20.23% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of DDOG. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in Datadog in the 4th quarter worth $3,228,000. BOKF NA purchased a new position in Datadog in the 3rd quarter worth $1,760,000. CIBC Asset Management Inc raised its position in Datadog by 9.8% in the 3rd quarter. CIBC Asset Management Inc now owns 12,339 shares of the company’s stock worth $1,744,000 after purchasing an additional 1,101 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its position in Datadog by 6,107.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 8,629 shares of the company’s stock worth $1,220,000 after purchasing an additional 8,490 shares during the period. Finally, Glynn Capital Management LLC raised its position in Datadog by 2.4% in the 3rd quarter. Glynn Capital Management LLC now owns 280,101 shares of the company’s stock worth $39,592,000 after purchasing an additional 6,633 shares during the period. 64.06% of the stock is owned by institutional investors.

Several research firms have commented on DDOG. Sumitomo Mitsui Financial Group assumed coverage on shares of Datadog in a research note on Friday, March 18th. They issued a “neutral” rating and a $136.00 price objective for the company. Needham & Company LLC decreased their price target on shares of Datadog from $236.00 to $190.00 and set a “buy” rating for the company in a research note on Tuesday, February 8th. Royal Bank of Canada raised their price target on shares of Datadog from $210.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, February 11th. Barclays decreased their price target on shares of Datadog from $225.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday, January 12th. Finally, Truist Financial decreased their price target on shares of Datadog from $225.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, March 24th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, Datadog presently has an average rating of “Buy” and an average target price of $181.00.

NASDAQ DDOG opened at $133.32 on Monday. Datadog has a 52-week low of $69.73 and a 52-week high of $199.68. The company has a debt-to-equity ratio of 0.71, a quick ratio of 3.54 and a current ratio of 3.54. The company has a market capitalization of $41.85 billion, a P/E ratio of -1,943.15 and a beta of 1.08. The company has a fifty day moving average of $148.12 and a 200-day moving average of $156.95.

Datadog (NASDAQ:DDOGGet Rating) last posted its quarterly earnings data on Thursday, February 10th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. Datadog had a negative net margin of 2.02% and a negative return on equity of 0.58%. The company had revenue of $326.20 million during the quarter, compared to the consensus estimate of $291.42 million. During the same period in the previous year, the firm posted ($0.01) EPS. The firm’s revenue was up 83.7% compared to the same quarter last year. As a group, analysts forecast that Datadog will post -0.24 EPS for the current fiscal year.

Datadog Company Profile (Get Rating)

Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. The company's SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, log management, and security monitoring to provide real-time observability of customers technology stack.

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