TOMS Capital Investment Management LP Buys New Position in Datadog, Inc. (NASDAQ:DDOG)

TOMS Capital Investment Management LP purchased a new position in shares of Datadog, Inc. (NASDAQ:DDOG) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,700 shares of the company’s stock, valued at approximately $1,922,000. Datadog accounts for about 0.1% of TOMS Capital Investment Management LP’s investment portfolio, making the stock its 18th largest holding.

Other hedge funds have also made changes to their positions in the company. B. Riley Wealth Advisors Inc. lifted its holdings in Datadog by 37.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,398 shares of the company’s stock worth $420,000 after buying an additional 932 shares in the last quarter. Comerica Bank boosted its holdings in Datadog by 2.2% in the first quarter. Comerica Bank now owns 36,509 shares of the company’s stock valued at $4,513,000 after purchasing an additional 774 shares during the period. Cetera Investment Advisers grew its stake in Datadog by 150.1% during the 1st quarter. Cetera Investment Advisers now owns 33,880 shares of the company’s stock worth $4,188,000 after purchasing an additional 20,336 shares in the last quarter. Cetera Advisors LLC increased its holdings in Datadog by 141.5% during the 1st quarter. Cetera Advisors LLC now owns 13,700 shares of the company’s stock worth $1,693,000 after purchasing an additional 8,026 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in Datadog by 70.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock valued at $39,000 after purchasing an additional 127 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Price Performance

Shares of NASDAQ DDOG opened at $152.75 on Monday. The stock has a fifty day moving average price of $128.23 and a 200 day moving average price of $121.31. Datadog, Inc. has a 1-year low of $98.80 and a 1-year high of $157.48. The company has a market cap of $51.89 billion, a PE ratio of 288.21, a P/E/G ratio of 19.99 and a beta of 1.10.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DDOG. Monness Crespi & Hardt raised Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a research report on Thursday, November 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $151.00 price objective on shares of Datadog in a research report on Friday, August 9th. Needham & Company LLC decreased their price objective 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. Citigroup increased their target price on Datadog from $150.00 to $157.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Sanford C. Bernstein cut their price target on Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Datadog has an average rating of “Moderate Buy” and a consensus price target of $150.96.

Insiders Place Their Bets

In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $122.61, for a total transaction of $10,499,952.57. Following the transaction, the chief executive officer now owns 392,111 shares in the company, valued at approximately $48,076,729.71. The trade was a 17.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO David M. Obstler sold 33,334 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $135.95, for a total value of $4,531,757.30. Following the completion of the sale, the chief financial officer now directly owns 314,158 shares of the company’s stock, valued at $42,709,780.10. This represents a 9.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 541,491 shares of company stock worth $68,927,496. 11.78% of the stock is owned by insiders.

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.