Cannon Global Investment Management LLC Takes Position in Datadog, Inc. $DDOG

Key Points

• Cannon Global Investment Management LLC acquired a new stake of 4,000 shares in Datadog, Inc., valued at approximately $537,000, making it the company's 23rd largest holding.
• Several analysts have raised their price targets for Datadog, with Oppenheimer increasing theirs from $165.00 to $195.00, while the average price target stands at $162.37.
• Insider transactions included significant sales, with Director Amit Agarwal selling 45,444 shares for over $6.8 million, which has contributed to a total of 1.49 million shares sold by insiders recently.

Cannon Global Investment Management LLC bought a new stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,000 shares of the company's stock, valued at approximately $537,000. Datadog makes up about 1.1% of Cannon Global Investment Management LLC's investment portfolio, making the stock its 23rd largest holding.

A number of other large investors have also recently modified their holdings of the stock. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in Datadog by 887.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 25,199 shares of the company's stock worth $25,000 after acquiring an additional 22,646 shares in the last quarter. Cornerstone Planning Group LLC boosted its stake in Datadog by 96.9% during the first quarter. Cornerstone Planning Group LLC now owns 313 shares of the company's stock worth $30,000 after acquiring an additional 154 shares in the last quarter. Costello Asset Management INC bought a new stake in Datadog during the first quarter worth about $30,000. Center for Financial Planning Inc. boosted its stake in Datadog by 1,189.7% during the first quarter. Center for Financial Planning Inc. now owns 374 shares of the company's stock worth $37,000 after acquiring an additional 345 shares in the last quarter. Finally, Alpine Bank Wealth Management bought a new stake in Datadog during the first quarter worth about $39,000. Institutional investors own 78.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on DDOG shares. Oppenheimer boosted their price objective on shares of Datadog from $165.00 to $195.00 and gave the stock an "outperform" rating in a research note on Friday. Cantor Fitzgerald boosted their price objective on shares of Datadog from $171.00 to $179.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. DA Davidson upped their target price on shares of Datadog from $170.00 to $180.00 and gave the stock a "buy" rating in a research note on Friday, October 3rd. Mizuho upped their target price on shares of Datadog from $155.00 to $170.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, Guggenheim reiterated a "sell" rating and issued a $105.00 target price on shares of Datadog in a research note on Tuesday, July 8th. Twenty-six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Datadog presently has a consensus rating of "Moderate Buy" and an average price target of $162.37.

Insider Buying and Selling at Datadog

In other Datadog news, Director Amit Agarwal sold 45,444 shares of the company's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $150.08, for a total transaction of $6,820,235.52. Following the completion of the sale, the director directly owned 1,640 shares of the company's stock, valued at approximately $246,131.20. This represents a 96.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael James Callahan sold 8,333 shares of the firm's stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $160.55, for a total transaction of $1,337,863.15. Following the sale, the director owned 12,496 shares in the company, valued at $2,006,232.80. The trade was a 40.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,491,232 shares of company stock valued at $202,904,731 in the last quarter. Insiders own 8.70% of the company's stock.

Datadog Stock Up 1.1%

Shares of Datadog stock opened at $152.87 on Friday. The company has a market cap of $53.31 billion, a price-to-earnings ratio of 436.78, a price-to-earnings-growth ratio of 59.15 and a beta of 1.21. The company's 50 day moving average is $140.31 and its 200 day moving average is $127.11. Datadog, Inc. has a twelve month low of $81.63 and a twelve month high of $170.08. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 0.31.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.05. The company had revenue of $826.76 million for the quarter, compared to the consensus estimate of $791.72 million. Datadog had a net margin of 4.13% and a return on equity of 5.04%. The firm's revenue for the quarter was up 28.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.43 earnings per share. Datadog has set its Q3 2025 guidance at 0.440-0.460 EPS. FY 2025 guidance at 1.800-1.830 EPS. Research analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current year.

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.

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