Datadog, Inc. (NASDAQ:DDOG) Short Interest Up 40.9% in November

Datadog, Inc. (NASDAQ:DDOG) was the recipient of a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 16,020,000 shares, a growth of 40.9% from the November 15th total of 11,370,000 shares. Based on an average trading volume of 4,270,000 shares, the days-to-cover ratio is currently 3.8 days.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on DDOG shares. Scotiabank dropped their price target on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. TD Cowen reaffirmed a “buy” rating and issued a $165.00 target price on shares of Datadog in a report on Tuesday, November 19th. Truist Financial increased their price target on Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday. Rosenblatt Securities boosted their price objective on Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, UBS Group reiterated an “underperform” rating on shares of Datadog in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $155.07.

Datadog Stock Down 2.4 %

Shares of NASDAQ DDOG opened at $153.03 on Friday. The business has a fifty day simple moving average of $136.72 and a two-hundred day simple moving average of $123.89. The firm has a market cap of $51.99 billion, a PE ratio of 288.74, a price-to-earnings-growth ratio of 20.27 and a beta of 1.11. Datadog has a twelve month low of $98.80 and a twelve month high of $170.08.

Insider Transactions at Datadog

In other Datadog news, CEO Olivier Pomel sold 178,723 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the completion of the sale, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at approximately $61,236,887.04. This represents a 32.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $129.33, for a total transaction of $16,438,489.65. Following the completion of the transaction, the chief technology officer now owns 336,165 shares in the company, valued at $43,476,219.45. The trade was a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 713,446 shares of company stock worth $97,145,034 over the last three months. 11.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Pathstone Holdings LLC raised its position in shares of Datadog by 0.4% in the 3rd quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock worth $2,664,000 after acquiring an additional 91 shares in the last quarter. GAMMA Investing LLC boosted its stake in Datadog by 19.5% in the third quarter. GAMMA Investing LLC now owns 563 shares of the company’s stock valued at $65,000 after acquiring an additional 92 shares in the last quarter. HB Wealth Management LLC boosted its stake in Datadog by 5.2% in the second quarter. HB Wealth Management LLC now owns 1,926 shares of the company’s stock valued at $250,000 after acquiring an additional 95 shares in the last quarter. WR Wealth Planners LLC grew its holdings in Datadog by 31.6% in the second quarter. WR Wealth Planners LLC now owns 433 shares of the company’s stock worth $56,000 after purchasing an additional 104 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in shares of Datadog by 3.5% during the second quarter. Parallel Advisors LLC now owns 3,076 shares of the company’s stock worth $399,000 after purchasing an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

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.