Toronto Dominion Bank Increases Stake in Datadog, Inc. (NASDAQ:DDOG)

Toronto Dominion Bank lifted its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 1,550.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 721,974 shares of the company's stock after buying an additional 678,234 shares during the period. Toronto Dominion Bank owned approximately 0.21% of Datadog worth $103,162,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of DDOG. Suvretta Capital Management LLC purchased a new stake in Datadog during the 4th quarter worth approximately $25,213,000. Sculptor Capital LP purchased a new stake in Datadog during the 4th quarter worth approximately $5,744,000. Sender Co & Partners Inc. purchased a new stake in Datadog during the 4th quarter worth approximately $1,093,000. Shell Asset Management Co. purchased a new stake in Datadog during the 4th quarter worth approximately $48,000. Finally, Sora Investors LLC purchased a new stake in Datadog during the 4th quarter worth approximately $8,670,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

Datadog Stock Performance

NASDAQ:DDOG traded down $0.17 during trading hours on Tuesday, reaching $116.29. The company's stock had a trading volume of 2,995,249 shares, compared to its average volume of 4,372,995. The firm has a market capitalization of $40.16 billion, a price-to-earnings ratio of 228.02, a PEG ratio of 44.03 and a beta of 1.12. The firm has a 50-day simple moving average of $101.74 and a 200-day simple moving average of $125.39. Datadog, Inc. has a 1 year low of $81.63 and a 1 year high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.04. The business had revenue of $761.55 million for the quarter, compared to analysts' expectations of $741.73 million. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The firm's revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.44 earnings per share. Equities analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on DDOG shares. Citigroup dropped their price objective on shares of Datadog from $170.00 to $165.00 and set a "buy" rating on the stock in a research report on Friday, February 14th. Stifel Nicolaus set a $120.00 price objective on shares of Datadog in a research report on Tuesday, May 6th. BTIG Research set a $136.00 price objective on shares of Datadog and gave the company a "buy" rating in a research report on Tuesday, May 6th. Truist Financial dropped their price objective on shares of Datadog from $140.00 to $120.00 and set a "hold" rating on the stock in a research report on Monday, March 31st. Finally, Wells Fargo & Company dropped their price objective on shares of Datadog from $140.00 to $115.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. Seven investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $141.54.

Insiders Place Their Bets

In related news, Director Amit Agarwal sold 10,167 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $115.86, for a total transaction of $1,177,948.62. Following the completion of the sale, the director now directly owns 82,324 shares in the company, valued at approximately $9,538,058.64. The trade was a 10.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Olivier Pomel sold 107,365 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $87.33, for a total transaction of $9,376,185.45. Following the completion of the sale, the chief executive officer now directly owns 563,598 shares of the company's stock, valued at $49,219,013.34. This represents a 16.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 584,867 shares of company stock valued at $60,517,652. Insiders own 11.78% of the company's stock.

Datadog 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.