Datadog, Inc. (NASDAQ:DDOG) Short Interest Up 14.2% in March

Datadog, Inc. (NASDAQ:DDOG - Get Free Report) saw a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 9,750,000 shares, a growth of 14.2% from the March 15th total of 8,540,000 shares. Based on an average daily trading volume, of 4,120,000 shares, the short-interest ratio is presently 2.4 days.

Wall Street Analyst Weigh In

Several research firms recently issued reports on DDOG. Royal Bank of Canada boosted their price objective on Datadog from $145.00 to $151.00 and gave the company an "outperform" rating in a report on Wednesday, February 14th. Needham & Company LLC boosted their price objective on Datadog from $125.00 to $165.00 and gave the company a "buy" rating in a report on Tuesday, February 13th. Mizuho boosted their price objective on Datadog from $108.00 to $130.00 and gave the company a "neutral" rating in a report on Wednesday, February 14th. William Blair reiterated an "outperform" rating on shares of Datadog in a report on Friday, February 16th. Finally, Barclays boosted their price objective on Datadog from $138.00 to $152.00 and gave the company an "overweight" rating in a report on Wednesday, February 14th. Six research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $130.33.

Datadog Stock Performance

Shares of NASDAQ DDOG traded up $1.13 during trading hours on Tuesday, reaching $126.95. The stock had a trading volume of 3,016,360 shares, compared to its average volume of 4,091,808. The firm has a market cap of $42.13 billion, a price-to-earnings ratio of 1,057.92 and a beta of 1.16. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 0.37. Datadog has a fifty-two week low of $62.60 and a fifty-two week high of $138.61. The firm has a 50-day moving average of $126.45 and a 200-day moving average of $115.43.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.01. The firm had revenue of $589.65 million during the quarter, compared to analysts' expectations of $568.73 million. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The business's revenue was up 25.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.08) EPS. Equities research analysts predict that Datadog will post -0.14 earnings per share for the current year.

Insiders Place Their Bets

In other Datadog news, President Amit Agarwal sold 33,311 shares of the business's stock in a transaction on Monday, March 4th. The stock was sold at an average price of $128.58, for a total transaction of $4,283,128.38. Following the transaction, the president now owns 294,012 shares of the company's stock, valued at $37,804,062.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Madre Armelle De sold 12,654 shares of the company's stock in a transaction on Monday, March 4th. The stock was sold at an average price of $128.58, for a total value of $1,627,051.32. Following the transaction, the insider now owns 109,505 shares of the company's stock, valued at approximately $14,080,152.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Amit Agarwal sold 33,311 shares of the company's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $128.58, for a total value of $4,283,128.38. Following the completion of the transaction, the president now directly owns 294,012 shares in the company, valued at approximately $37,804,062.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 755,990 shares of company stock valued at $97,168,431. Insiders own 14.97% of the company's stock.

Institutional Trading of Datadog

Large investors have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA acquired a new stake in shares of Datadog in the 3rd quarter valued at about $189,668,000. Quintet Private Bank Europe S.A. acquired a new stake in Datadog during the 3rd quarter worth approximately $270,000. Mengis Capital Management Inc. acquired a new stake in Datadog during the 3rd quarter worth approximately $409,000. Bank of New York Mellon Corp lifted its position in Datadog by 2.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,378,534 shares of the company's stock worth $125,571,000 after acquiring an additional 33,748 shares during the period. Finally, Cercano Management LLC lifted its position in Datadog by 40.4% during the 3rd quarter. Cercano Management LLC now owns 309,560 shares of the company's stock worth $28,198,000 after acquiring an additional 89,019 shares during the period. 78.29% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.