Datadog, Inc. (NASDAQ:DDOG) Short Interest Down 9.4% in July

Datadog, Inc. (NASDAQ:DDOG) saw a large decline in short interest in the month of July. As of July 15th, there was short interest totalling 9,850,000 shares, a decline of 9.4% from the June 30th total of 10,870,000 shares. Based on an average trading volume of 4,060,000 shares, the days-to-cover ratio is presently 2.4 days.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on DDOG. BTIG Research raised Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective for the company in a report on Thursday. Evercore ISI began coverage on Datadog in a report on Monday, July 15th. They issued an “outperform” rating and a $150.00 price objective for the company. Loop Capital reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Datadog in a report on Friday, July 5th. Robert W. Baird raised Datadog from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $130.00 to $140.00 in a report on Wednesday, May 8th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $150.00 price objective on shares of Datadog in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $138.37.

Insider Transactions at Datadog

In other news, CEO Olivier Pomel sold 98,690 shares of Datadog stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $109.16, for a total transaction of $10,773,000.40. Following the completion of the transaction, the chief executive officer now directly owns 324,539 shares in the company, valued at approximately $35,426,677.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Olivier Pomel sold 98,690 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $109.16, for a total value of $10,773,000.40. Following the completion of the sale, the chief executive officer now directly owns 324,539 shares in the company, valued at approximately $35,426,677.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Madre Armelle De sold 300 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $113.37, for a total value of $34,011.00. Following the completion of the sale, the insider now owns 100,053 shares of the company’s stock, valued at $11,343,008.61. The disclosure for this sale can be found here. In the last three months, insiders sold 857,606 shares of company stock worth $103,799,779. 11.78% of the stock is owned by company insiders.

Institutional Trading of Datadog

A number of institutional investors and hedge funds have recently modified their holdings of DDOG. Spire Wealth Management grew its holdings in Datadog by 2,148.5% during the fourth quarter. Spire Wealth Management now owns 5,329 shares of the company’s stock valued at $694,000 after purchasing an additional 5,092 shares during the period. Hsbc Holdings PLC grew its holdings in Datadog by 47.8% during the fourth quarter. Hsbc Holdings PLC now owns 193,390 shares of the company’s stock valued at $23,505,000 after purchasing an additional 62,533 shares during the period. Congress Asset Management Co. MA bought a new position in Datadog during the first quarter valued at $1,083,000. Massachusetts Financial Services Co. MA grew its holdings in Datadog by 31.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,733,448 shares of the company’s stock valued at $331,786,000 after purchasing an additional 651,244 shares during the period. Finally, Zevenbergen Capital Investments LLC grew its holdings in Datadog by 5.6% during the fourth quarter. Zevenbergen Capital Investments LLC now owns 165,405 shares of the company’s stock valued at $20,077,000 after purchasing an additional 8,830 shares during the period. 78.29% of the stock is owned by hedge funds and other institutional investors.

Datadog Stock Down 2.4 %

Shares of Datadog stock traded down $2.81 on Thursday, hitting $113.63. The company had a trading volume of 1,417,039 shares, compared to its average volume of 4,016,234. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.43 and a current ratio of 3.43. The stock has a market capitalization of $38.01 billion, a price-to-earnings ratio of 363.88, a P/E/G ratio of 37.76 and a beta of 1.11. The stock has a 50 day moving average of $120.89 and a 200-day moving average of $123.87. Datadog has a 1 year low of $77.81 and a 1 year high of $138.61.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.20. The company had revenue of $611.25 million during the quarter, compared to the consensus estimate of $589.97 million. Datadog had a return on equity of 7.48% and a net margin of 5.11%. As a group, sell-side analysts forecast that Datadog will post 0.32 earnings per share for the current year.

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.