Datadog (NASDAQ:DDOG) Sees Significant Drop in Short Interest

Datadog (NASDAQ:DDOG) saw a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 3,420,000 shares, a decline of 20.8% from the January 15th total of 4,320,000 shares. Based on an average trading volume of 2,330,000 shares, the days-to-cover ratio is currently 1.5 days. Approximately 24.6% of the company’s shares are sold short.

Shares of DDOG traded down $1.47 during mid-day trading on Friday, reaching $47.03. 8,374,683 shares of the company’s stock traded hands, compared to its average volume of 2,469,666. The firm’s 50-day moving average is $42.01. Datadog has a 12 month low of $27.55 and a 12 month high of $50.12. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.94 and a current ratio of 4.94.

Datadog (NASDAQ:DDOG) last released its earnings results on Thursday, February 13th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.05. The business had revenue of $113.64 million for the quarter, compared to the consensus estimate of $102.22 million. As a group, analysts predict that Datadog will post -0.2 earnings per share for the current fiscal year.

In other Datadog news, CEO Olivier Pomel sold 62,500 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $40.99, for a total transaction of $2,561,875.00. Following the sale, the chief executive officer now directly owns 109,600 shares of the company’s stock, valued at $4,492,504. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael James Callahan sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $48.93, for a total value of $244,650.00. Following the sale, the director now directly owns 67,179 shares in the company, valued at $3,287,068.47. The disclosure for this sale can be found here. Insiders have sold 454,600 shares of company stock worth $18,786,304 over the last three months.

Several institutional investors and hedge funds have recently added to or reduced their stakes in DDOG. Voloridge Investment Management LLC purchased a new stake in shares of Datadog in the third quarter valued at approximately $1,356,000. California State Teachers Retirement System purchased a new stake in shares of Datadog in the third quarter valued at approximately $34,000. Concorde Asset Management LLC purchased a new stake in shares of Datadog in the fourth quarter valued at approximately $1,098,000. Zimmer Partners LP purchased a new stake in shares of Datadog in the third quarter valued at approximately $3,391,000. Finally, Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of Datadog in the third quarter valued at approximately $11,685,000. 33.13% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have weighed in on DDOG. Jefferies Financial Group boosted their price objective on Datadog from $36.00 to $45.00 and gave the stock a “hold” rating in a research note on Friday. They noted that the move was a valuation call. Oppenheimer began coverage on Datadog in a research note on Thursday, November 21st. They set a “market perform” rating on the stock. Stifel Nicolaus boosted their price objective on Datadog from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Rosenblatt Securities upped their target price on Datadog from $50.00 to $61.00 and gave the company a “buy” rating in a research note on Friday. Finally, William Blair reaffirmed a “buy” rating on shares of Datadog in a research note on Wednesday, November 13th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Datadog currently has a consensus rating of “Hold” and an average target price of $45.50.

About Datadog

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

Further Reading: What is a Call Option?

Receive News & Ratings for Datadog Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Datadog and related companies with MarketBeat.com's FREE daily email newsletter.