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

TOMS Capital Investment Management LP bought 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 fund bought 16,700 shares of the company’s stock, valued at approximately $1,922,000. Datadog makes up 0.1% of TOMS Capital Investment Management LP’s investment portfolio, making the stock its 18th biggest holding.

Several other large investors also recently bought and sold shares of the company. SouthState Corp purchased a new position in shares of Datadog during the 2nd quarter worth approximately $26,000. True Wealth Design LLC increased its position in Datadog by 12,000.0% during the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after buying an additional 240 shares in the last quarter. Meeder Asset Management Inc. increased its position 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. Blue Trust Inc. acquired a new position in shares of Datadog in the second quarter worth $37,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Datadog by 70.2% in the first quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock valued at $39,000 after acquiring an additional 127 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Insider Transactions at Datadog

In related news, Director Matthew Jacobson sold 9,256 shares of the business’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 transaction of $1,000,110.80. Following the transaction, the director now directly owns 48,411 shares of the company’s stock, valued at approximately $5,230,808.55. The trade was a 16.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CRO Sean Michael Walters sold 2,322 shares of the stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $125.00, for a total transaction of $290,250.00. Following the completion of the sale, the executive now directly owns 183,512 shares of the company’s stock, valued at $22,939,000. This trade represents a 1.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 541,491 shares of company stock valued at $68,927,496 over the last quarter. Company insiders own 11.78% of the company’s stock.

Datadog Trading Up 0.5 %

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 12-month low of $98.80 and a 12-month high of $157.48. The company has a market cap of $51.89 billion, a P/E ratio of 288.21, a P/E/G ratio of 19.99 and a beta of 1.10.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on DDOG shares. Wedbush raised shares of Datadog from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Rosenblatt Securities lifted their price target on shares of Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, November 8th. TD Cowen reissued a “buy” rating and set a $165.00 price objective on shares of Datadog in a research note on Tuesday, November 19th. Robert W. Baird lifted their target price on shares of Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, DA Davidson increased their price target on Datadog from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $150.96.

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.