Datadog, Inc. (NASDAQ:DDOG) Short Interest Down 15.7% in July

Datadog, Inc. (NASDAQ:DDOG) was the recipient of a significant decrease in short interest in July. As of July 31st, there was short interest totalling 8,300,000 shares, a decrease of 15.7% from the July 15th total of 9,850,000 shares. Based on an average daily volume of 3,970,000 shares, the short-interest ratio is presently 2.1 days.

Datadog Stock Down 1.2 %

NASDAQ DDOG traded down $1.35 during trading on Friday, reaching $114.98. 2,196,876 shares of the company’s stock traded hands, compared to its average volume of 4,092,042. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 3.43. The firm has a market cap of $38.46 billion, a price-to-earnings ratio of 359.31, a price-to-earnings-growth ratio of 37.24 and a beta of 1.11. The company’s 50 day simple moving average is $119.86 and its two-hundred day simple moving average is $122.64. Datadog has a 12-month low of $77.81 and a 12-month high of $138.61.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Datadog had a net margin of 5.11% and a return on equity of 7.48%. The business had revenue of $645.28 million for the quarter, compared to analysts’ expectations of $624.92 million. During the same period last year, the business earned $0.36 EPS. The company’s revenue was up 26.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Datadog will post 0.32 EPS for the current fiscal year.

Insider Transactions at Datadog

In related news, insider Madre Armelle De sold 300 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $125.00, for a total transaction of $37,500.00. Following the completion of the transaction, the insider now owns 99,965 shares in the company, valued at $12,495,625. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Madre Armelle De sold 300 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $125.00, for a total transaction of $37,500.00. Following the completion of the transaction, the insider now owns 99,965 shares in the company, valued at $12,495,625. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Titilope Cole sold 2,210 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $112.34, for a total transaction of $248,271.40. Following the transaction, the director now owns 6,451 shares of the company’s stock, valued at approximately $724,705.34. The disclosure for this sale can be found here. Insiders sold a total of 857,306 shares of company stock valued at $101,078,323 over the last three months. Corporate insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

A number of institutional investors have recently modified their holdings of DDOG. International Assets Investment Management LLC acquired a new stake in Datadog during the 4th quarter valued at approximately $1,915,000. Sequoia Financial Advisors LLC acquired a new stake in Datadog during the 4th quarter valued at approximately $233,000. Cerity Partners LLC lifted its stake in Datadog by 80.0% during the 4th quarter. Cerity Partners LLC now owns 30,062 shares of the company’s stock valued at $3,649,000 after acquiring an additional 13,361 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Datadog by 0.9% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 636,740 shares of the company’s stock valued at $77,288,000 after purchasing an additional 5,898 shares in the last quarter. Finally, Strs Ohio purchased a new position in shares of Datadog during the 4th quarter valued at approximately $849,000. 78.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on DDOG shares. Needham & Company LLC lowered their price objective on shares of Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Scotiabank lowered their price objective on shares of Datadog from $145.00 to $135.00 and set a “sector outperform” rating for the company in a research report on Friday, August 9th. BTIG Research upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective for the company in a research report on Thursday, August 1st. Wells Fargo & Company upgraded shares of Datadog from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $130.00 to $150.00 in a report on Tuesday, April 23rd. Finally, Mizuho upgraded shares of Datadog from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $135.00 to $155.00 in a report on Tuesday, July 16th. Four analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Datadog presently has a consensus rating of “Moderate Buy” and an average target price of $138.93.

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.