Artisan Mid Cap Fund Sold Datadog (DDOG) Despite Strong Profit Growth
In its first-quarter 2025 investor letter, Artisan Mid Cap Fund highlighted stocks such as Datadog, Inc. (NASDAQ:DDOG). Datadog, Inc. (NASDAQ:DDOG) is an observability and security platform for cloud applications. The one-month return of Datadog, Inc. (NASDAQ:DDOG) was 21.49%, and its shares lost 5.96% of their value over the last 52 weeks. On May 05, 2025, Datadog, Inc. (NASDAQ:DDOG) stock closed at $105.70 per share with a market capitalization of $36.502 billion.
Artisan Mid Cap Fund stated the following regarding Datadog, Inc. (NASDAQ:DDOG) in its Q1 2025 investor letter:
"We ended our investment campaigns in Illumina, Best Buy and Datadog, Inc. (NASDAQ:DDOG) during the quarter. Datadog is a leading provider of monitoring tools and analytics for cloud-based applications. As businesses across the economy undergo digital transformations, their need to monitor and optimize the performance of cloud computing infrastructure becomes increasingly critical. We believe Datadog's low-cost customer acquisition model and impressive pace of new product development position it well for years of strong profit growth. However, after a strong rally in shares, we exited the position due to our valuation discipline."
Is Datadog, Inc. (DDOG) the Best Growth Stock to Buy According to Billionaires?
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Datadog, Inc. (NASDAQ:DDOG) is in not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 83 hedge fund portfolios held Datadog, Inc. (NASDAQ:DDOG) at the end of the fourth quarter which was 71 in the previous quarter. While we acknowledge the potential of Datadog, Inc. (NASDAQ:DDOG) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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