Datadog, Inc. (NASDAQ:DDOG) Short Interest Update

Datadog, Inc. (NASDAQ:DDOG) was the recipient of a significant increase in short interest in October. As of October 31st, there was short interest totalling 9,800,000 shares, an increase of 8.2% from the October 15th total of 9,060,000 shares. Based on an average trading volume of 3,050,000 shares, the short-interest ratio is currently 3.2 days.

Insiders Place Their Bets

In other Datadog news, CEO Olivier Pomel sold 85,637 shares of Datadog stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $122.61, for a total transaction of $10,499,952.57. Following the transaction, the chief executive officer now directly owns 392,111 shares in the company, valued at approximately $48,076,729.71. The trade was a 17.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO David M. Obstler sold 33,333 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $130.39, for a total value of $4,346,289.87. Following the completion of the sale, the chief financial officer now owns 314,158 shares in the company, valued at approximately $40,963,061.62. This trade represents a 9.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 320,579 shares of company stock worth $40,386,541. Corporate insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

Institutional investors and hedge funds have recently made changes to their positions in the company. SouthState Corp acquired a new position in shares of Datadog in the second quarter valued at approximately $26,000. True Wealth Design LLC grew its position in shares of Datadog by 12,000.0% in the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after purchasing an additional 240 shares during the last quarter. Meeder Asset Management Inc. grew its position in shares of Datadog by 66.5% in the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after purchasing an additional 115 shares during the last quarter. Quarry LP acquired a new position in shares of Datadog in the third quarter valued at approximately $33,000. Finally, Blue Trust Inc. acquired a new stake in Datadog during the second quarter worth approximately $37,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DDOG. Royal Bank of Canada restated an “outperform” rating and issued a $151.00 price target on shares of Datadog in a report on Friday, August 9th. Scotiabank cut their price target on Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. BMO Capital Markets boosted their price target on Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Wedbush upgraded Datadog from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. Finally, Rosenblatt Securities upped their target price on Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $150.96.

Datadog Trading Down 0.1 %

Datadog stock opened at $125.97 on Tuesday. Datadog has a 12 month low of $98.80 and a 12 month high of $138.61. The stock’s 50 day moving average is $121.59 and its 200-day moving average is $119.44. The company has a market capitalization of $42.79 billion, a price-to-earnings ratio of 237.68, a PEG ratio of 18.85 and a beta of 1.10.

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.