Datadog, Inc. (NASDAQ:DDOG) Short Interest Down 7.2% in December

Datadog, Inc. (NASDAQ:DDOG) was the target of a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 14,300,000 shares, a drop of 7.2% from the December 15th total of 15,410,000 shares. Based on an average trading volume of 4,400,000 shares, the short-interest ratio is currently 3.3 days.

Insider Buying and Selling at Datadog

In related news, CEO Olivier Pomel sold 178,723 shares of Datadog stock in a transaction on Monday, December 9th. The shares were sold at an average price of $161.28, for a total value of $28,824,445.44. Following the transaction, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at $61,236,887.04. The trade was a 32.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Matthew Jacobson sold 3,393 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $125.03, for a total transaction of $424,226.79. Following the sale, the director now directly owns 695,086 shares of the company’s stock, valued at $86,906,602.58. The trade was a 0.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 617,679 shares of company stock worth $88,668,671 over the last ninety days. Insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. raised its position in Datadog by 8.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 356,011 shares of the company’s stock worth $46,171,000 after buying an additional 26,431 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Datadog by 10.8% during the second quarter. Dimensional Fund Advisors LP now owns 306,402 shares of the company’s stock valued at $39,735,000 after purchasing an additional 29,890 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its position in Datadog by 156.3% during the second quarter. Mercer Global Advisors Inc. ADV now owns 9,208 shares of the company’s stock valued at $1,196,000 after purchasing an additional 5,615 shares during the period. Amalgamated Bank boosted its holdings in Datadog by 6.5% in the second quarter. Amalgamated Bank now owns 20,202 shares of the company’s stock worth $2,620,000 after purchasing an additional 1,236 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its position in Datadog by 3.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,423 shares of the company’s stock worth $1,999,000 after purchasing an additional 486 shares during the period. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Price Performance

NASDAQ DDOG traded up $1.61 during mid-day trading on Friday, reaching $138.40. The stock had a trading volume of 3,468,651 shares, compared to its average volume of 2,744,932. The company has a fifty day moving average price of $146.03 and a 200 day moving average price of $128.62. Datadog has a 1 year low of $98.80 and a 1 year high of $170.08. The stock has a market cap of $47.02 billion, a PE ratio of 261.14, a price-to-earnings-growth ratio of 16.31 and a beta of 1.14.

Analysts Set New Price Targets

Several research firms recently issued reports on DDOG. Mizuho raised their target price on Datadog from $155.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Robert W. Baird lifted their price objective on Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Royal Bank of Canada upped their target price on Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. UBS Group reiterated an “underperform” rating on shares of Datadog in a report on Friday, October 18th. Finally, Jefferies Financial Group upped their price objective on shares of Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $158.45.

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.