Toronto Dominion Bank Has $3.83 Million Stake in Datadog, Inc. (NASDAQ:DDOG)

Toronto Dominion Bank increased its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 1.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,499 shares of the company’s stock after buying an additional 381 shares during the period. Toronto Dominion Bank’s holdings in Datadog were worth $3,826,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in Datadog by 12.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 254,076 shares of the company’s stock worth $30,842,000 after purchasing an additional 28,394 shares during the period. Corient Private Wealth LLC boosted its position in Datadog by 4.9% during the fourth quarter. Corient Private Wealth LLC now owns 10,266 shares of the company’s stock worth $1,246,000 after purchasing an additional 484 shares during the period. Allianz Asset Management GmbH boosted its position in Datadog by 9.5% during the fourth quarter. Allianz Asset Management GmbH now owns 16,485 shares of the company’s stock worth $2,001,000 after purchasing an additional 1,432 shares during the period. Scotia Capital Inc. bought a new position in Datadog during the fourth quarter worth $204,000. Finally, California State Teachers Retirement System boosted its position in Datadog by 1.9% during the fourth quarter. California State Teachers Retirement System now owns 396,776 shares of the company’s stock worth $48,161,000 after purchasing an additional 7,493 shares during the period. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Evercore ISI initiated coverage on shares of Datadog in a research report on Monday, July 15th. They set an “outperform” rating and a $150.00 price objective for the company. BTIG Research raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 target price for the company in a research report on Thursday, August 1st. Needham & Company LLC reduced their target price on shares of Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $151.00 target price on shares of Datadog in a research report on Friday, August 9th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $150.00 target price on shares of Datadog in a research report on Monday, July 22nd. Four analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $139.88.

Insider Activity at Datadog

In related news, CEO Olivier Pomel sold 200,993 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $131.01, for a total value of $26,332,092.93. Following the sale, the chief executive officer now directly owns 324,539 shares in the company, valued at $42,517,854.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Matthew Jacobson sold 9,256 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total value of $1,000,110.80. Following the sale, the director now directly owns 48,411 shares in the company, valued at $5,230,808.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Olivier Pomel sold 200,993 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $131.01, for a total value of $26,332,092.93. Following the completion of the sale, the chief executive officer now owns 324,539 shares in the company, valued at $42,517,854.39. The disclosure for this sale can be found here. Insiders have sold 422,991 shares of company stock worth $50,448,980 over the last ninety days. Insiders own 11.78% of the company’s stock.

Datadog Price Performance

Datadog stock opened at $114.20 on Monday. The business has a 50 day moving average of $113.81 and a 200-day moving average of $119.32. Datadog, Inc. has a 1 year low of $77.81 and a 1 year high of $138.61. The company has a market capitalization of $38.20 billion, a P/E ratio of 356.88, a P/E/G ratio of 28.94 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.06. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The company had revenue of $645.28 million during the quarter, compared to the consensus estimate of $624.92 million. During the same quarter in the prior year, the firm posted $0.36 earnings per share. The firm’s revenue was up 26.7% compared to the same quarter last year. Equities analysts anticipate that Datadog, Inc. will post 0.42 EPS for the current year.

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.