Datadog, Inc. (NASDAQ:DDOG) Short Interest Up 8.2% in October

Datadog, Inc. (NASDAQ:DDOG) saw 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 daily volume of 3,050,000 shares, the days-to-cover ratio is presently 3.2 days.

Datadog Trading Down 0.1 %

Shares of DDOG stock traded down $0.12 during midday trading on Monday, reaching $125.97. 3,075,821 shares of the stock were exchanged, compared to its average volume of 3,848,544. Datadog has a 1 year low of $98.80 and a 1 year high of $138.61. The company’s 50 day moving average is $121.59 and its two-hundred day moving average is $119.44. The firm has a market cap of $42.79 billion, a PE ratio of 237.68, a price-to-earnings-growth ratio of 18.85 and a beta of 1.10.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on DDOG shares. Royal Bank of Canada reissued an “outperform” rating and set a $151.00 price objective on shares of Datadog in a research note on Friday, August 9th. Robert W. Baird lifted their price target on Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. BTIG Research raised Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price target for the company in a research note on Thursday, August 1st. UBS Group reaffirmed an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $150.00 price target on shares of Datadog in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $150.96.

Insider Activity

In other news, Director Matthew Jacobson sold 9,256 shares of Datadog stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total value of $1,000,110.80. Following the completion of the transaction, the director now directly owns 48,411 shares in the company, valued at approximately $5,230,808.55. The trade was a 16.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Sean Michael Walters sold 2,322 shares of Datadog stock in a transaction on 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 $22,939,000. This represents a 1.25 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 320,579 shares of company stock worth $40,386,541. 11.78% of the stock is owned by corporate insiders.

Institutional Trading of Datadog

A number of hedge funds have recently made changes to their positions in DDOG. SouthState Corp bought a new stake in shares of Datadog in the 2nd quarter worth approximately $26,000. True Wealth Design LLC boosted its position in shares of Datadog by 12,000.0% in the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after purchasing an additional 240 shares in the last quarter. Meeder Asset Management Inc. boosted its position in shares of Datadog by 66.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after purchasing an additional 115 shares in the last quarter. Quarry LP bought a new stake in shares of Datadog in the 3rd quarter worth approximately $33,000. Finally, Blue Trust Inc. bought a new stake in shares of Datadog in the 2nd quarter worth approximately $37,000. 78.29% of the stock is owned by institutional investors.

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.