Datadog, Inc. (NASDAQ:DDOG) Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp raised its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 21.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,622 shares of the company's stock after purchasing an additional 2,367 shares during the quarter. Fifth Third Bancorp's holdings in Datadog were worth $1,351,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Datadog by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company's stock valued at $4,337,316,000 after purchasing an additional 220,527 shares in the last quarter. Baillie Gifford & Co. increased its stake in Datadog by 15.8% during the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company's stock valued at $1,558,234,000 after purchasing an additional 1,484,562 shares in the last quarter. Groupama Asset Managment increased its stake in Datadog by 407.6% during the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock valued at $943,074,000 after purchasing an additional 5,299,688 shares in the last quarter. Geode Capital Management LLC increased its stake in Datadog by 9.6% during the 4th quarter. Geode Capital Management LLC now owns 5,684,612 shares of the company's stock valued at $811,076,000 after purchasing an additional 499,055 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Datadog by 16.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,476,279 shares of the company's stock worth $639,616,000 after acquiring an additional 625,429 shares during the period. Institutional investors and hedge funds own 78.29% of the company's stock.

Datadog Stock Down 1.8%

DDOG opened at $120.45 on Monday. The company has a market cap of $41.60 billion, a price-to-earnings ratio of 236.18, a PEG ratio of 44.03 and a beta of 1.01. Datadog, Inc. has a 52-week low of $81.63 and a 52-week high of $170.08. The firm's fifty day simple moving average is $108.01 and its two-hundred day simple moving average is $123.15.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) 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 the consensus estimate of $741.73 million. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The company's revenue was up 24.6% compared to the same quarter last year. During the same period last year, the firm posted $0.44 earnings per share. On average, research analysts forecast that Datadog, Inc. will post 0.34 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Truist Financial cut their price objective on shares of Datadog from $140.00 to $120.00 and set a "hold" rating on the stock in a research note on Monday, March 31st. Wolfe Research upgraded shares of Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 price objective on the stock in a research note on Thursday. Macquarie cut their price objective on shares of Datadog from $175.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Wells Fargo & Company cut 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 note on Wednesday, May 7th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $119.00 price objective on shares of Datadog in a research note on Wednesday, May 7th. Six analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $142.25.

Insider Buying and Selling at Datadog

In other news, CEO Olivier Pomel sold 107,365 shares of the firm's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $87.33, for a total value of $9,376,185.45. Following the transaction, the chief executive officer now directly owns 563,598 shares of the company's stock, valued at approximately $49,219,013.34. This trade represents a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Kerry Acocella sold 5,099 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $116.84, for a total transaction of $595,767.16. Following the completion of the transaction, the general counsel now directly owns 115,490 shares in the company, valued at approximately $13,493,851.60. This represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 725,582 shares of company stock valued at $80,913,097 over the last ninety days. Corporate insiders own 8.70% of the company's stock.

About Datadog

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.

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