Datadog, Inc. (NASDAQ:DDOG) Sees Large Drop in Short Interest

Datadog, Inc. (NASDAQ:DDOG) was the target of a large decrease in short interest in May. As of May 31st, there was short interest totalling 7,230,000 shares, a decrease of 25.2% from the May 15th total of 9,660,000 shares. Currently, 2.4% of the company’s stock are short sold. Based on an average trading volume of 4,950,000 shares, the days-to-cover ratio is presently 1.5 days.

Datadog Stock Up 4.2%

DDOG opened at $130.04 on Friday. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.34. The firm has a market cap of $44.91 billion, a P/E ratio of 282.70, a PEG ratio of 72.08 and a beta of 1.01. Datadog has a 52 week low of $81.63 and a 52 week high of $170.08. The business’s fifty day simple moving average is $110.65 and its 200 day simple moving average is $122.84.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. The business had revenue of $761.55 million for the quarter, compared to analyst estimates of $741.73 million. Datadog had a return on equity of 6.39% and a net margin of 5.85%. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.44 earnings per share. As a group, equities research analysts anticipate that Datadog will post 0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $119.00 target price on shares of Datadog in a report on Wednesday, May 7th. Morgan Stanley reduced their price objective on Datadog from $143.00 to $115.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. DA Davidson upped their price objective on Datadog from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, May 5th. Macquarie reduced their price objective on Datadog from $175.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. Finally, Barclays upped their price objective on Datadog from $125.00 to $128.00 and gave the company an “overweight” rating in a research note on Tuesday, May 6th. Six investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, Datadog presently has an average rating of “Moderate Buy” and an average target price of $142.52.

Insider Transactions at Datadog

In other news, COO Adam Blitzer sold 15,603 shares of the business’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $116.84, for a total value of $1,823,054.52. Following the completion of the sale, the chief operating officer now directly owns 212,969 shares of the company’s stock, valued at approximately $24,883,297.96. The trade was a 6.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Kerry Acocella sold 5,099 shares of the business’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $116.84, for a total value of $595,767.16. Following the completion of the sale, the general counsel now directly owns 115,490 shares of the company’s stock, valued at $13,493,851.60. The trade was a 4.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 762,966 shares of company stock valued at $85,558,325. 8.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Datadog

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Datadog by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 31,413,032 shares of the company’s stock worth $3,116,487,000 after buying an additional 1,058,803 shares during the last quarter. Baillie Gifford & Co. boosted its stake in Datadog by 12.6% in the 1st quarter. Baillie Gifford & Co. now owns 12,274,655 shares of the company’s stock worth $1,217,769,000 after buying an additional 1,369,522 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Datadog by 259.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,658,340 shares of the company’s stock worth $858,994,000 after buying an additional 6,250,942 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Datadog by 23.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,729,254 shares of the company’s stock worth $667,611,000 after buying an additional 1,261,065 shares during the last quarter. Finally, Groupama Asset Managment boosted its stake in Datadog by 407.6% in the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock worth $943,074,000 after buying an additional 5,299,688 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

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.