Datadog, Inc. (NASDAQ:DDOG) Short Interest Up 5.5% in April

Datadog, Inc. (NASDAQ:DDOG) was the target of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 10,290,000 shares, a growth of 5.5% from the March 31st total of 9,750,000 shares. Based on an average trading volume of 4,070,000 shares, the days-to-cover ratio is presently 2.5 days.

Datadog Trading Up 0.7 %

NASDAQ DDOG opened at $126.42 on Thursday. The business has a 50 day simple moving average of $125.20 and a 200 day simple moving average of $118.00. Datadog has a one year low of $63.00 and a one year high of $138.61. The stock has a market capitalization of $41.96 billion, a P/E ratio of 1,053.50 and a beta of 1.15. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.17 and a quick ratio of 3.17.

Datadog (NASDAQ:DDOG) last released its earnings results on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The business had revenue of $589.65 million during the quarter, compared to analysts’ expectations of $568.73 million. During the same quarter last year, the firm posted ($0.08) earnings per share. The firm’s revenue was up 25.6% on a year-over-year basis. Research analysts expect that Datadog will post -0.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Robert W. Baird upped their price objective on Datadog from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Citigroup upped their price objective on Datadog from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, January 22nd. Stifel Nicolaus reiterated a “buy” rating and set a $152.00 target price on shares of Datadog in a research report on Monday, April 22nd. Truist Financial upped their target price on Datadog from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Finally, Needham & Company LLC upped their price objective on Datadog from $125.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Five equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.70.

Insider Buying and Selling

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $135.10, for a total transaction of $17,171,885.50. Following the transaction, the chief technology officer now directly owns 247,328 shares of the company’s stock, valued at approximately $33,414,012.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Datadog news, CEO Olivier Pomel sold 133,315 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $129.82, for a total value of $17,306,953.30. Following the transaction, the chief executive officer now directly owns 299,075 shares of the company’s stock, valued at approximately $38,825,916.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $135.10, for a total value of $17,171,885.50. Following the completion of the transaction, the chief technology officer now directly owns 247,328 shares in the company, valued at $33,414,012.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 759,908 shares of company stock valued at $97,728,997. 11.78% of the stock is owned by insiders.

Institutional Investors Weigh In On Datadog

Several large investors have recently added to or reduced their stakes in DDOG. Norges Bank acquired a new stake in Datadog during the fourth quarter worth approximately $384,986,000. Massachusetts Financial Services Co. MA acquired a new stake in Datadog in the third quarter valued at approximately $189,668,000. Alkeon Capital Management LLC acquired a new stake in Datadog in the third quarter valued at approximately $127,526,000. Vanguard Group Inc. grew its stake in Datadog by 4.7% in the third quarter. Vanguard Group Inc. now owns 26,524,875 shares of the company’s stock valued at $2,416,151,000 after acquiring an additional 1,191,742 shares during the period. Finally, 1832 Asset Management L.P. grew its stake in Datadog by 47.9% in the fourth quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock valued at $317,955,000 after acquiring an additional 848,000 shares during the period. Institutional investors and hedge funds own 78.29% of the company’s stock.

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.