Datadog, Inc. (NASDAQ:DDOG) Sees Significant Decrease in Short Interest


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Datadog, Inc. (NASDAQ:DDOG) was the recipient of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 14,120,000 shares, a decrease of 16.6% from the March 31st total of 16,930,000 shares. Based on an average daily volume of 3,730,000 shares, the days-to-cover ratio is currently 3.8 days. Currently, 7.7% of the shares of the stock are sold short.

In related news, Director Julie Richardson sold 3,123 shares of the company’s stock in a transaction that occurred on Tuesday, April 13th. The shares were sold at an average price of $94.11, for a total value of $293,905.53. Following the transaction, the director now directly owns 5,424 shares in the company, valued at $510,452.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO David M. Obstler sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 28th. The shares were sold at an average price of $92.30, for a total transaction of $1,384,500.00. Following the completion of the sale, the chief financial officer now directly owns 178,230 shares in the company, valued at $16,450,629. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,148,525 shares of company stock worth $102,945,682. Insiders own 26.06% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in DDOG. Price T Rowe Associates Inc. MD raised its holdings in shares of Datadog by 6.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 21,271,140 shares of the company’s stock valued at $2,093,931,000 after purchasing an additional 1,199,041 shares during the last quarter. BlackRock Inc. increased its holdings in Datadog by 24.4% in the 4th quarter. BlackRock Inc. now owns 10,219,292 shares of the company’s stock valued at $1,005,989,000 after acquiring an additional 2,002,436 shares during the last quarter. Lone Pine Capital LLC boosted its position in shares of Datadog by 8.3% during the 4th quarter. Lone Pine Capital LLC now owns 7,090,101 shares of the company’s stock valued at $697,950,000 after acquiring an additional 541,225 shares during the last quarter. Baillie Gifford & Co. increased its stake in Datadog by 10.2% during the fourth quarter. Baillie Gifford & Co. now owns 6,121,892 shares of the company’s stock worth $602,638,000 after acquiring an additional 564,935 shares during the last quarter. Finally, Brown Capital Management LLC lifted its holdings in shares of Datadog by 0.3% in the 4th quarter. Brown Capital Management LLC now owns 3,966,137 shares of the company’s stock worth $390,427,000 after acquiring an additional 10,172 shares during the last quarter. 45.72% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have recently weighed in on the stock. Mizuho lowered their price objective on shares of Datadog from $125.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, April 16th. Truist started coverage on Datadog in a research note on Wednesday, January 20th. They set a “buy” rating and a $120.00 price target for the company. DA Davidson increased their price objective on Datadog from $80.00 to $112.00 and gave the company a “neutral” rating in a research report on Friday, February 12th. Jefferies Financial Group raised Datadog from a “hold” rating to a “buy” rating and raised their price objective for the company from $105.00 to $125.00 in a report on Monday, January 11th. Finally, Credit Suisse Group lifted their price target on shares of Datadog from $80.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, January 15th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the stock. Datadog presently has an average rating of “Hold” and a consensus target price of $108.42.

NASDAQ DDOG traded down $2.36 during trading hours on Tuesday, reaching $77.81. 127,825 shares of the company’s stock traded hands, compared to its average volume of 3,544,205. Datadog has a 52-week low of $43.81 and a 52-week high of $119.43. The company has a debt-to-equity ratio of 0.61, a current ratio of 6.49 and a quick ratio of 6.49. The firm has a 50-day simple moving average of $86.54 and a 200 day simple moving average of $96.23. The firm has a market cap of $23.85 billion, a PE ratio of -2,592.80 and a beta of 1.15.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data on Thursday, February 11th. The company reported $0.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.08. Datadog had a positive return on equity of 0.38% and a negative net margin of 1.39%. The company had revenue of $177.53 million during the quarter, compared to analyst estimates of $163.30 million. Sell-side analysts forecast that Datadog will post -0.02 EPS for the current fiscal year.

Datadog Company Profile

Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. The company's SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, log management, and security monitoring to provide real-time observability of customers technology stack.

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