Fifth Third Bancorp Has $1.61 Million Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Fifth Third Bancorp lifted its stake in Datadog, Inc. (NASDAQ:DDOG) by 410.9% during the 4th quarter, Holdings Channel reports. The firm owned 11,255 shares of the company’s stock after acquiring an additional 9,052 shares during the period. Fifth Third Bancorp’s holdings in Datadog were worth $1,608,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. True Wealth Design LLC boosted its holdings 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 during the last quarter. Retirement Wealth Solutions LLC acquired a new stake in shares of Datadog in the 4th quarter valued at approximately $30,000. Avior Wealth Management LLC boosted its stake in Datadog by 55.9% during the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after acquiring an additional 81 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in Datadog by 66.5% during the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after purchasing an additional 115 shares during the period. Finally, Quarry LP bought a new stake in Datadog in the third quarter valued at approximately $33,000. 78.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DDOG has been the topic of a number of recent analyst reports. Morgan Stanley reissued an “equal weight” rating and set a $143.00 price target on shares of Datadog in a research report on Thursday, January 16th. BNP Paribas assumed coverage on Datadog in a report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 target price on the stock. TD Cowen restated a “buy” rating and issued a $165.00 price target on shares of Datadog in a report on Tuesday, November 19th. DA Davidson raised their price target on Datadog from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Monness Crespi & Hardt upgraded 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Datadog presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.45.

Datadog Price Performance

Shares of DDOG opened at $151.89 on Wednesday. The firm has a 50-day moving average of $147.68 and a 200-day moving average of $129.02. The company has a market cap of $51.60 billion, a PE ratio of 286.59, a price-to-earnings-growth ratio of 16.28 and a beta of 1.14. Datadog, Inc. has a one year low of $98.80 and a one year high of $170.08.

Insider Buying and Selling

In other news, CEO Olivier Pomel sold 178,723 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $161.28, for a total value of $28,824,445.44. Following the transaction, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at $61,236,887.04. This represents a 32.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Amit Agarwal sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $139.47, for a total transaction of $3,486,750.00. Following the sale, the director now owns 195,667 shares of the company’s stock, valued at approximately $27,289,676.49. This represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 642,679 shares of company stock worth $92,155,421. Company insiders own 11.78% 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.