Artisan Partners, a high value-added investment management firm, published its ‘Artisan Global Discovery Fund’ third quarter 2021 investor letter – a copy of which can be downloaded here. A return of 2.85% was recorded by both its Investor Class: APFDX and Advisor Class: APDDX, and 2.93% by its Institutional Class: APHDX for the third quarter of 2021, all beating the MSCI All Country World Index that delivered a -1.05% return for the same period. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.
Artisan Global Discovery Fund, in its Q3 2021 investor letter, mentioned Datadog, Inc. (NASDAQ: DDOG) and discussed its stance on the firm. Datadog, Inc. is a New York, New York-based cybersecurity company with a $51.2 billion market capitalization. DDOG delivered a 66.82% return since the beginning of the year, while its 12-month returns are up by 61.68%. The stock closed at $164.22 per share on December 03, 2021.
Here is what Artisan Global Discovery Fund has to say about Datadog, Inc. in its Q3 2021 investor letter:
“In addition to trimming our position in Atlassian, we also pared our exposure to Datadog. Datadog is a leading provider of monitoring and analytics for cloud-based applications. Software has become central to how organizations deliver differentiated products and user experiences and optimize business processes—fueling the disruption taking place across nearly every industry. The success of this digital transformation trend is increasingly tied to quality and performance—in turn, driving strong secular demand for IT infrastructure and application monitoring. Datadog’s platform— which integrates and automates infrastructure monitoring, application performance monitoring and log management—provides real-time observability of its customers’ entire technology stacks and is built to address the scale, complexity and dynamic nature of the modern cloud era. Datadog’s solutions fill a void left by legacy tools built for on-premise IT infrastructures, and the company is well positioned to exploit an underpenetrated, large addressable market. The company has been firing on all cylinders recently, adding 1,000 or more new customers each quarter (~600 pre-pandemic) and growing its free cash flow margin by 800 basis points year-over-year in Q2. Additionally, the integration of nine different products into a single platform has enabled the company to successfully cross-sell products to existing customers. While we believe Datadog’s low-touch, landand-expand distribution model positions the company well to capitalize on the continued shift to the cloud, we trimmed our position as shares approached our estimate of private market value.”
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Based on our calculations, Datadog, Inc. (NASDAQ: DDOG) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. DDOG was in 62 hedge fund portfolios at the end of the third quarter of 2021, compared to 56 funds in the previous quarter. Datadog, Inc. (NASDAQ: DDOG) delivered an 18.95% return in the past 3 months.
Disclosure: None. This article is originally published at Insider Monkey.
