Fifth Third Bancorp Acquires 56,247 Shares of Datadog, Inc. $DDOG

Key Points

• Fifth Third Bancorp increased its Datadog stake by 465.9% in the first quarter, buying 56,247 additional shares and bringing its total holdings to 68,319 shares worth about $8.1 million.
• Several other large institutional investors also boosted their positions in Datadog, and 78.29% of the stock is now held by institutions overall.
• Analysts remain broadly positive on Datadog after its latest earnings beat, with a consensus rating of Moderate Buy and an average price target of $246.55, even as the stock traded down 2.3% on the day.

Fifth Third Bancorp increased its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 465.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 68,319 shares of the company's stock after purchasing an additional 56,247 shares during the quarter. Fifth Third Bancorp's holdings in Datadog were worth $8,065,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Datadog by 7.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,423,814 shares of the company's stock worth $1,961,496,000 after buying an additional 956,993 shares during the period. State Street Corp boosted its holdings in Datadog by 106.8% during the 3rd quarter. State Street Corp now owns 13,732,777 shares of the company's stock valued at $1,955,547,000 after acquiring an additional 7,091,075 shares during the period. Geode Capital Management LLC grew its position in Datadog by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 9,056,086 shares of the company's stock worth $1,227,184,000 after acquiring an additional 197,816 shares during the last quarter. Jennison Associates LLC grew its position in Datadog by 43.7% during the 4th quarter. Jennison Associates LLC now owns 7,623,993 shares of the company's stock worth $1,036,787,000 after acquiring an additional 2,316,994 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Datadog by 119.2% in the 3rd quarter. Invesco Ltd. now owns 4,075,721 shares of the company's stock worth $580,383,000 after purchasing an additional 2,216,402 shares during the period. 78.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

DDOG has been the subject of several recent research reports. Jefferies Financial Group upgraded Datadog from a "buy" rating to a "buy" rating in a research report on Monday, June 15th. Monness Crespi & Hardt raised their target price on shares of Datadog from $255.00 to $270.00 in a report on Thursday, May 7th. Evercore lifted their target price on shares of Datadog from $225.00 to $265.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 10th. Citigroup upped their price target on shares of Datadog from $218.00 to $270.00 and gave the company a "buy" rating in a report on Wednesday, June 17th. Finally, Arete Research raised their price target on shares of Datadog from $260.00 to $340.00 and gave the stock a "buy" rating in a report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, forty have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Datadog presently has an average rating of "Moderate Buy" and a consensus price target of $246.55.

Datadog Trading Down 2.3%

NASDAQ:DDOG opened at $264.46 on Thursday. The company has a 50-day moving average price of $234.03 and a 200-day moving average price of $163.01. The stock has a market cap of $94.14 billion, a price-to-earnings ratio of 695.97, a P/E/G ratio of 27.53 and a beta of 1.54. The company has a current ratio of 3.40, a quick ratio of 3.40 and a debt-to-equity ratio of 0.25. Datadog, Inc. has a 12 month low of $98.01 and a 12 month high of $278.70.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.09. Datadog had a net margin of 3.69% and a return on equity of 4.83%. The company had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $960.12 million. During the same quarter in the previous year, the company earned $0.46 earnings per share. Datadog's quarterly revenue was up 32.1% on a year-over-year basis. Datadog has set its FY 2026 guidance at 2.360-2.440 EPS and its Q2 2026 guidance at 0.570-0.590 EPS. Equities analysts predict that Datadog, Inc. will post 0.64 EPS for the current year.

Insider Activity

In other news, CEO Olivier Pomel sold 127,141 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $199.84, for a total value of $25,407,857.44. Following the completion of the transaction, the chief executive officer owned 835,679 shares in the company, valued at $167,002,091.36. This trade represents a 13.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael James Callahan sold 112,500 shares of Datadog stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $231.60, for a total value of $26,055,000.00. Following the sale, the director owned 14,996 shares in the company, valued at $3,473,073.60. This represents a 88.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 1,459,533 shares of company stock worth $325,887,030. Company insiders own 6.48% of the company's stock.

About Datadog

Datadog NASDAQ: DDOG is a cloud-based monitoring and observability platform that helps organizations monitor, troubleshoot and secure their applications and infrastructure at scale. Its software-as-a-service offering collects and analyzes metrics, traces and logs from servers, containers, cloud services and applications to provide real-time visibility into system performance and health. Datadog's platform is widely used by engineering, operations and security teams to reduce downtime, accelerate incident response and improve application reliability.

The company's product suite includes infrastructure monitoring, application performance monitoring (APM), log management, real user monitoring (RUM), synthetic monitoring and network performance monitoring, along with security-focused products such as security monitoring and cloud SIEM.

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