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

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

Datadog Trading Up 1.4 %

Shares of DDOG stock traded up $2.13 during trading hours on Tuesday, hitting $155.01. The company’s stock had a trading volume of 4,214,089 shares, compared to its average volume of 3,949,029. Datadog has a 12-month low of $98.80 and a 12-month high of $157.48. The company has a 50 day moving average of $129.72 and a 200 day moving average of $121.79. The stock has a market cap 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.

Insider Activity at Datadog

In other Datadog news, CFO David M. Obstler sold 33,334 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $135.95, for a total value of $4,531,757.30. Following the completion of the sale, the chief financial officer now directly owns 314,158 shares of the company’s stock, valued at $42,709,780.10. The trade was a 9.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Matthew Jacobson sold 9,256 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the transaction, the director now directly owns 48,411 shares of the company’s stock, valued at $5,230,808.55. This represents a 16.05 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 541,491 shares of company stock worth $68,927,496. Corporate insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of DDOG. SouthState Corp acquired a new position in shares of Datadog in the 2nd quarter worth $26,000. True Wealth Design LLC boosted its stake in 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 acquiring an additional 240 shares during the last quarter. Meeder Asset Management Inc. boosted its position in shares of Datadog by 66.5% during the third 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 Datadog in the 3rd quarter valued at $33,000. Finally, Blue Trust Inc. acquired a new stake in Datadog in the 2nd quarter valued at $37,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on DDOG shares. DA Davidson raised their price objective on Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a report on Friday, November 8th. Citigroup lifted their target price on shares of Datadog from $150.00 to $157.00 and gave the company a “buy” rating in a report on Friday, November 8th. BNP Paribas assumed coverage on shares of Datadog in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 price target on the stock. Sanford C. Bernstein cut their target price on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. Finally, Rosenblatt Securities upped their price objective on Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.96.

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.