Datadog, Inc. (NASDAQ:DDOG) Short Interest Down 8.9% in July

Posted by Defense World Staff on Jul 31st, 2023

Datadog, Inc. (NASDAQ:DDOG – Get Free Report) was the recipient of a large decline in short interest during the month of July. As of July 15th, there was short interest totalling 10,500,000 shares, a decline of 8.9% from the June 30th total of 11,530,000 shares. Based on an average trading volume of 4,870,000 shares, the short-interest ratio is currently 2.2 days.

Insiders Place Their Bets

In other news, CFO David M. Obstler sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $116.34, for a total transaction of $1,163,400.00. Following the completion of the transaction, the chief financial officer now owns 275,218 shares of the company’s stock, valued at $32,018,862.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO David M. Obstler sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $116.34, for a total value of $1,163,400.00. Following the transaction, the chief financial officer now directly owns 275,218 shares in the company, valued at $32,018,862.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Amit Agarwal sold 151,900 shares of Datadog stock in a transaction on Monday, May 8th. The stock was sold at an average price of $77.73, for a total transaction of $11,807,187.00. Following the transaction, the president now directly owns 280,144 shares in the company, valued at $21,775,593.12. The disclosure for this sale can be found here. Insiders sold a total of 932,199 shares of company stock valued at $87,435,773 in the last quarter. Insiders own 14.97% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DDOG. AustralianSuper Pty Ltd bought a new stake in Datadog in the second quarter worth $425,000. EFG Asset Management North America Corp. lifted its position in Datadog by 5.4% in the second quarter. EFG Asset Management North America Corp. now owns 43,653 shares of the company’s stock worth $4,294,000 after buying an additional 2,248 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Datadog by 4.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 12,609 shares of the company’s stock worth $1,240,000 after buying an additional 497 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Datadog by 1.6% in the second quarter. China Universal Asset Management Co. Ltd. now owns 15,334 shares of the company’s stock worth $1,509,000 after buying an additional 245 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. lifted its position in Datadog by 5.3% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,578 shares of the company’s stock worth $647,000 after buying an additional 329 shares during the last quarter. 67.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DDOG. DA Davidson assumed coverage on shares of Datadog in a research note on Wednesday, April 5th. They issued a “neutral” rating and a $70.00 price target on the stock. TheStreet raised shares of Datadog from a “d” rating to a “c-” rating in a report on Tuesday, May 30th. Barclays boosted their price objective on shares of Datadog from $90.00 to $134.00 in a report on Wednesday, July 19th. Royal Bank of Canada cut their price objective on shares of Datadog from $100.00 to $85.00 in a report on Monday, May 1st. Finally, Stifel Nicolaus increased their price objective on shares of Datadog from $85.00 to $101.00 in a research note on Wednesday, May 24th. Six equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $106.50.

Datadog Trading Up 2.5 %

Shares of DDOG opened at $112.19 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.19 and a quick ratio of 3.19. Datadog has a 1 year low of $61.34 and a 1 year high of $120.75. The company has a 50 day simple moving average of $100.19 and a two-hundred day simple moving average of $83.18. The firm has a market cap of $36.11 billion, a P/E ratio of -415.50 and a beta of 0.93.

Datadog (NASDAQ:DDOG – Get Free Report) last announced its quarterly earnings data on Thursday, May 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). Datadog had a negative net margin of 4.68% and a negative return on equity of 4.86%. The company had revenue of $481.71 million for the quarter, compared to analysts’ expectations of $468.29 million. On average, equities analysts expect that Datadog will post -0.15 earnings per share for the current fiscal year.

Datadog Company Profile

(Get Free Report)

Datadog, Inc operates an observability and security platform for cloud applications in North America and internationally. The company's products include infrastructure and application performance monitoring, log management, digital experience monitoring, continuous profiler, database monitoring, network monitoring, incident management, observability pipelines, cloud cost management, universal service monitoring, cloud security management, application security management.