Toronto Dominion Bank Acquires 14,241 Shares of Datadog, Inc. (NASDAQ:DDOG)

Toronto Dominion Bank lifted its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 48.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 43,740 shares of the company's stock after purchasing 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 SEC.

Several other large investors have also made changes to their positions in DDOG. SouthState Corp acquired a new stake in Datadog in the 2nd quarter worth $26,000. True Wealth Design LLC lifted its position in Datadog by 12,000.0% in the third 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 period. Meeder Asset Management Inc. boosted its stake in Datadog by 66.5% during the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company's stock worth $33,000 after buying an additional 115 shares in the last quarter. Quarry LP bought a new stake in Datadog in the 3rd quarter valued at $33,000. Finally, Blue Trust Inc. bought a new stake in Datadog in the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 78.29% of the company's stock.

Insider Buying and Selling

In other news, CEO Olivier Pomel sold 178,723 shares of Datadog stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the transaction, the chief executive officer now owns 379,693 shares in the company, valued at $61,236,887.04. The trade was a 32.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Shardul Shah sold 15,832 shares of the business's stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $120.02, for a total value of $1,900,156.64. Following the completion of the sale, the director now owns 459,449 shares in the company, valued at $55,143,068.98. The trade was a 3.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 713,446 shares of company stock valued at $97,145,034 over the last ninety days. Insiders own 11.78% of the company's stock.

Datadog Stock Down 2.4 %

DDOG stock traded down $3.70 during midday trading on Friday, reaching $153.03. The stock had a trading volume of 4,409,238 shares, compared to its average volume of 4,038,865. The firm has a market cap of $51.99 billion, a price-to-earnings ratio of 288.74, a PEG ratio of 20.27 and a beta of 1.11. Datadog, Inc. has a twelve month low of $98.80 and a twelve month high of $170.08. The business has a fifty day simple moving average of $136.72 and a two-hundred day simple moving average of $123.90.

Analyst Ratings Changes

Several analysts have recently weighed in on DDOG shares. Truist Financial lifted their target price on shares of Datadog from $155.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday. Mizuho raised their price target on shares of Datadog from $155.00 to $170.00 and gave the stock an "outperform" rating in a research note on Friday. Barclays upped their price objective on Datadog from $155.00 to $187.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. Macquarie began coverage on Datadog in a report on Thursday. They issued an "outperform" rating and a $200.00 target price for the company. Finally, Citigroup boosted their price target on Datadog from $150.00 to $157.00 and gave the company a "buy" rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Datadog presently has an average rating of "Moderate Buy" and an average target price of $155.07.

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.