Datadog, Inc. (NASDAQ:DDOG) Shares Acquired by Toronto Dominion Bank

Toronto Dominion Bank increased its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 48.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,740 shares of the company’s stock after buying an additional 14,241 shares during the period. Toronto Dominion Bank’s holdings in Datadog were worth $5,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. SouthState Corp purchased a new position in Datadog during the second quarter valued at $26,000. True Wealth Design LLC raised its position in shares of Datadog by 12,000.0% during the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after purchasing an additional 240 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in Datadog by 66.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after buying an additional 115 shares in the last quarter. Quarry LP acquired a new stake in Datadog in the 3rd quarter worth about $33,000. Finally, Blue Trust Inc. purchased a new stake in Datadog during the 2nd quarter worth approximately $37,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on DDOG. Rosenblatt Securities raised their target price on Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, November 8th. UBS Group restated an “underperform” rating on shares of Datadog in a report on Friday, October 18th. Wedbush raised shares of Datadog from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. Sanford C. Bernstein reduced their target price on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. Finally, DA Davidson boosted their price target on shares of Datadog from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Datadog has an average rating of “Moderate Buy” and a consensus price target of $155.07.

Datadog Price Performance

Shares of DDOG opened at $153.03 on Friday. The firm has a 50-day simple moving average of $136.72 and a two-hundred day simple moving average of $123.89. The stock has a market cap of $51.99 billion, a PE ratio of 288.74, a P/E/G ratio of 20.27 and a beta of 1.11. Datadog, Inc. has a 1-year low of $98.80 and a 1-year high of $170.08.

Insider Buying and Selling

In related news, CEO Olivier Pomel sold 178,723 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the sale, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at $61,236,887.04. This represents a 32.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Amit Agarwal sold 150,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $126.03, for a total transaction of $18,904,500.00. Following the sale, the president now owns 214,275 shares in the company, valued at approximately $27,005,078.25. This trade represents a 41.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 713,446 shares of company stock valued at $97,145,034. Company insiders own 11.78% of the company’s stock.

Datadog Company Profile

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.