Short Interest in Datadog, Inc. (NASDAQ:DDOG) Rises By 5.5%

Datadog, Inc. (NASDAQ:DDOG) was the target of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 10,290,000 shares, an increase of 5.5% from the March 31st total of 9,750,000 shares. Based on an average daily trading volume, of 4,070,000 shares, the short-interest ratio is presently 2.5 days.

Insider Buying and Selling

In related news, CEO Olivier Pomel sold 23,924 shares of Datadog stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $130.05, for a total transaction of $3,111,316.20. Following the sale, the chief executive officer now directly owns 337,247 shares in the company, valued at approximately $43,858,972.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Datadog news, CEO Olivier Pomel sold 23,924 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $130.05, for a total transaction of $3,111,316.20. Following the completion of the transaction, the chief executive officer now owns 337,247 shares in the company, valued at approximately $43,858,972.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO David M. Obstler sold 70,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $120.73, for a total transaction of $8,451,100.00. Following the transaction, the chief financial officer now owns 275,191 shares of the company’s stock, valued at approximately $33,223,809.43. The disclosure for this sale can be found here. Insiders have sold a total of 759,908 shares of company stock worth $97,728,997 in the last ninety days. Company insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

Hedge funds have recently made changes to their positions in the business. Anchor Investment Management LLC purchased a new position in shares of Datadog during the fourth quarter valued at approximately $25,000. Riverview Trust Co purchased a new stake in Datadog in the first quarter worth $26,000. Raleigh Capital Management Inc. purchased a new stake in Datadog in the fourth quarter worth $29,000. BluePath Capital Management LLC purchased a new stake in Datadog in the third quarter worth $31,000. Finally, Private Trust Co. NA grew its stake in Datadog by 743.3% in the fourth quarter. Private Trust Co. NA now owns 253 shares of the company’s stock worth $31,000 after purchasing an additional 223 shares during the period. 78.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on DDOG shares. Truist Financial raised their price target on shares of Datadog from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Barclays lifted their price objective on shares of Datadog from $138.00 to $152.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Royal Bank of Canada lifted their price objective on shares of Datadog from $145.00 to $151.00 and gave the company an “outperform” rating in a research note on Wednesday, February 14th. Citigroup lifted their price objective on shares of Datadog from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. Finally, Mizuho lifted their price objective on shares of Datadog from $108.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Five equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $131.70.

Datadog Stock Performance

Shares of DDOG stock opened at $125.46 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.17 and a current ratio of 3.17. Datadog has a fifty-two week low of $63.00 and a fifty-two week high of $138.61. The stock has a 50 day moving average price of $125.09 and a two-hundred day moving average price of $118.05. The company has a market capitalization of $41.64 billion, a P/E ratio of 1,045.50 and a beta of 1.14.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The firm had revenue of $589.65 million during the quarter, compared to the consensus estimate of $568.73 million. During the same quarter in the previous year, the company posted ($0.08) earnings per share. The business’s revenue was up 25.6% on a year-over-year basis. Analysts expect that Datadog will post -0.14 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.