I made a couple small changes and one large change since my last update, so I will lay it all out here.
On 11/2, I trimmed my Datadog (DDOG) position by 11% at $89.57 and added that to my position in Etsy at $127.34. I feel that Etsy is just so undervalued right now, and I expected Datadog to drop once they reported earnings. (They did, but have since mostly recovered) I would really love to hear more bear arguments about Etsy. They could very easily report their third consecutive +100% growth quarter and it doesn’t seem to be priced into their stock.
I’m still a big fan of Datadog and expect them to ramp back up over the next few quarters. This has been discussed quite a bit here lately, so I’ll let you read more about it in the various other threads.
On 11/12, I trimmed my Cloudflare (NET) position by 15% at $63.65 and added that to my position in Zoom (ZM) at $425.88. This decision was more me trying to get more into Zoom while others were selling off. Obviously, it’s sold off more since then, but I expect big things at the end of the month.
Now for the main reason I am posting. Today I exited my position in Okta (OKTA) and started a new position in Teledoc (TDOC). I still feel Okta is a great company with a bright future, but it is growing much slower than my other holdings. I mentioned at my end of month update that I was planning on erasing my portfolio, and this is the only major change I expect to make at this time.
Teledoc’s share price today is the same as it was seven month ago in April. All they have done since then is greatly accelerate their growth and acquired Livongo which was a darling of this board and a large holding of mine. Their price multiples seem very low compared to how the company is performing.
My current allocation is as such:
Company Allocation ---------------------------------- CrowdStrike (CRWD) 23.40% Zoom (ZM) 22.16% Datadog (DDOG) 14.95% Cloudflare (NET) 13.43% Etsy (ETSY) 8.77% Teledoc (TDOC) 6.40% DocuSign (DOCU) 6.33% Shopify (SHOP) 4.57%