Datadog, Inc. (NASDAQ:DDOG) Short Interest Up 16.0% in November

Datadog, Inc. (NASDAQ:DDOG) was the recipient of a significant growth in short interest in November. As of November 15th, there was short interest totalling 11,370,000 shares, a growth of 16.0% from the October 31st total of 9,800,000 shares. Based on an average daily volume of 3,810,000 shares, the short-interest ratio is currently 3.0 days.

Datadog Trading Up 1.4 %

Shares of DDOG stock traded up $2.13 during mid-day trading on Tuesday, reaching $155.01. The stock had a trading volume of 4,214,089 shares, compared to its average volume of 3,949,029. The firm has a market capitalization of $52.66 billion, a PE ratio of 292.48, a price-to-earnings-growth ratio of 20.01 and a beta of 1.11. Datadog has a 52-week low of $98.80 and a 52-week high of $157.48. The stock’s 50-day moving average price is $129.72 and its two-hundred day moving average price is $121.79.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DDOG. Robert W. Baird boosted their price target on shares of Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Sanford C. Bernstein reduced their target price on Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. TD Cowen reaffirmed a “buy” rating and issued a $165.00 price target on shares of Datadog in a report on Tuesday, November 19th. Needham & Company LLC dropped their price target on Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Rosenblatt Securities upped their price objective on shares of Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $150.96.

Insider Transactions at Datadog

In other news, CRO Sean Michael Walters sold 2,322 shares of the stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $125.00, for a total value of $290,250.00. Following the sale, the executive now directly owns 183,512 shares of the company’s stock, valued at approximately $22,939,000. This represents a 1.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO David M. Obstler sold 33,334 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $135.95, for a total transaction of $4,531,757.30. Following the completion of the transaction, the chief financial officer now owns 314,158 shares of the company’s stock, valued at $42,709,780.10. This trade represents a 9.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 541,491 shares of company stock worth $68,927,496 over the last quarter. Corporate insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

Institutional investors and hedge funds have recently bought and sold shares of the business. Los Angeles Capital Management LLC increased its position in shares of Datadog by 172.2% during the third quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock valued at $4,469,000 after buying an additional 24,574 shares during the period. Heritage Investors Management Corp bought a new stake in Datadog during the 3rd quarter valued at approximately $1,157,000. Jennison Associates LLC raised its position in shares of Datadog by 2.1% in the 3rd quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock worth $721,811,000 after acquiring an additional 126,613 shares in the last quarter. Parnassus Investments LLC raised its holdings in Datadog by 28.4% in the third quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock worth $21,324,000 after purchasing an additional 40,952 shares in the last quarter. Finally, Bank of Montreal Can grew its holdings in Datadog by 129.2% in the second quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock worth $79,384,000 after purchasing an additional 344,431 shares during the period. Hedge funds and other institutional investors 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.