Datadog, Inc. (NASDAQ:DDOG) Short Interest Down 25.2% in May

Datadog, Inc. (NASDAQ:DDOG - Get Free Report) was the recipient of a large decrease in short interest in the month of May. As of May 31st, there was short interest totalling 7,230,000 shares, a decrease of 25.2% from the May 15th total of 9,660,000 shares. Currently, 2.4% of the shares of the company are sold short. Based on an average trading volume of 4,950,000 shares, the short-interest ratio is currently 1.5 days.

Insider Activity at Datadog

In other Datadog news, CEO Olivier Pomel sold 107,365 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $121.71, for a total transaction of $13,067,394.15. Following the sale, the chief executive officer now directly owns 548,715 shares of the company's stock, valued at approximately $66,784,102.65. This trade represents a 16.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Adam Blitzer sold 15,603 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $116.84, for a total value of $1,823,054.52. Following the sale, the chief operating officer now directly owns 212,969 shares in the company, valued at approximately $24,883,297.96. This trade represents a 6.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 725,582 shares of company stock valued at $80,913,097 in the last ninety days. Company insiders own 8.70% of the company's stock.

Institutional Investors Weigh In On Datadog

Large investors have recently added to or reduced their stakes in the stock. Putney Financial Group LLC acquired a new stake in shares of Datadog in the fourth quarter valued at $32,000. Elequin Capital LP bought a new stake in Datadog in the fourth quarter worth about $34,000. Coppell Advisory Solutions LLC lifted its holdings in Datadog by 178.8% in the 4th quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company's stock valued at $40,000 after acquiring an additional 177 shares during the last quarter. Costello Asset Management INC bought a new position in shares of Datadog during the 1st quarter valued at about $30,000. Finally, Summit Securities Group LLC bought a new position in shares of Datadog during the 4th quarter valued at about $43,000. 78.29% of the stock is owned by institutional investors and hedge funds.

Datadog Stock Performance

NASDAQ:DDOG opened at $124.84 on Wednesday. Datadog has a fifty-two week low of $81.63 and a fifty-two week high of $170.08. The firm's 50 day moving average is $109.26 and its two-hundred day moving average is $122.95. The company has a market cap of $43.11 billion, a P/E ratio of 271.40, a P/E/G ratio of 67.58 and a beta of 1.01. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.34.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.04. Datadog had a return on equity of 6.39% and a net margin of 5.85%. The company had revenue of $761.55 million for the quarter, compared to analysts' expectations of $741.73 million. During the same quarter in the previous year, the firm posted $0.44 earnings per share. The firm's quarterly revenue was up 24.6% on a year-over-year basis. Analysts expect that Datadog will post 0.34 EPS for the current year.

Analyst Upgrades and Downgrades

DDOG has been the subject of several research analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $119.00 target price on shares of Datadog in a research note on Wednesday, May 7th. DA Davidson upped their price objective on shares of Datadog from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Barclays increased their price objective on shares of Datadog from $125.00 to $128.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Jefferies Financial Group reiterated a "buy" rating on shares of Datadog in a research report on Tuesday, May 6th. Finally, Truist Financial reduced their price target on shares of Datadog from $140.00 to $120.00 and set a "hold" rating for the company in a research report on Monday, March 31st. Six investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $142.25.

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.

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