Datadog, Inc. (NASDAQ:DDOG) saw a large decrease in short interest during 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. Approximately 7.7% of the company’s stock are short sold. Based on an average daily trading volume, of 3,730,000 shares, the days-to-cover ratio is currently 3.8 days.
In other news, CFO David M. Obstler sold 21,300 shares of the company’s stock in a transaction dated Monday, February 8th. The shares were sold at an average price of $115.58, for a total value of $2,461,854.00. Following the sale, the chief financial officer now owns 78,335 shares in the company, valued at approximately $9,053,959.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO David M. Obstler sold 15,000 shares of the stock in a transaction dated Wednesday, February 3rd. The stock was sold at an average price of $109.46, for a total transaction of $1,641,900.00. Following the transaction, the chief financial officer now directly owns 78,335 shares in the company, valued at approximately $8,574,549.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,148,525 shares of company stock valued at $102,945,682. Company insiders own 26.06% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Schonfeld Strategic Advisors LLC purchased a new position in Datadog in the 3rd quarter worth $5,354,000. IHT Wealth Management LLC purchased a new stake in Datadog during the 3rd quarter valued at approximately $340,000. Kingsview Wealth Management LLC acquired a new position in shares of Datadog during the third quarter worth about $403,000. Teachers Retirement System of The State of Kentucky acquired a new stake in Datadog in the third quarter valued at $5,573,000. Finally, Mercer Global Advisors Inc. ADV grew its holdings in shares of Datadog by 78.7% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 10,117 shares of the company’s stock worth $1,034,000 after acquiring an additional 4,456 shares during the period. Hedge funds and other institutional investors own 45.72% of the company’s stock.
A number of research firms have commented on DDOG. Jefferies Financial Group raised shares of Datadog from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $105.00 to $125.00 in a report on Monday, January 11th. Truist assumed coverage on shares of Datadog in a research report on Wednesday, January 20th. They set a “buy” rating and a $120.00 price objective for the company. Credit Suisse Group increased their price objective 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. Morgan Stanley increased their price target on Datadog from $112.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Friday, February 12th. They noted that the move was a valuation call. Finally, Needham & Company LLC raised their price target on Datadog from $109.00 to $141.00 and gave the stock a “buy” rating in a report on Friday, February 12th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the company. Datadog currently has an average rating of “Hold” and a consensus price target of $108.42.
Shares of NASDAQ:DDOG traded down $2.36 during midday trading on Tuesday, reaching $77.81. The company had a trading volume of 127,825 shares, compared to its average volume of 3,544,205. Datadog has a 1-year low of $43.81 and a 1-year high of $119.43. The company has a fifty day simple moving average of $86.54 and a two-hundred day simple moving average of $96.23. The company has a debt-to-equity ratio of 0.61, a quick ratio of 6.49 and a current ratio of 6.49. The firm has a market cap of $23.85 billion, a price-to-earnings ratio of -2,592.80 and a beta of 1.15.
Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Thursday, February 11th. The company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.08. Datadog had a negative net margin of 1.39% and a positive return on equity of 0.38%. The company had revenue of $177.53 million for the quarter, compared to analyst estimates of $163.30 million. Analysts expect that Datadog will post -0.02 EPS for the current year.
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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