23,085 Shares in GoDaddy Inc. (NYSE:GDDY) Acquired by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd purchased a new stake in GoDaddy Inc. (NYSE:GDDY) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 23,085 shares of the technology company’s stock, valued at approximately $3,225,000.

A number of other large investors also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its position in shares of GoDaddy by 94.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock worth $433,895,000 after acquiring an additional 1,775,708 shares during the last quarter. Kodai Capital Management LP purchased a new stake in shares of GoDaddy during the 1st quarter valued at $75,855,000. Bank of Nova Scotia grew its stake in shares of GoDaddy by 3,411.0% during the 4th quarter. Bank of Nova Scotia now owns 438,002 shares of the technology company’s stock valued at $46,497,000 after buying an additional 425,527 shares during the period. Federated Hermes Inc. increased its holdings in shares of GoDaddy by 35.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after buying an additional 394,399 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of GoDaddy by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock worth $1,748,603,000 after buying an additional 379,228 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Trading Up 0.7 %

Shares of NYSE GDDY opened at $158.85 on Thursday. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 24.13. The stock’s 50 day moving average price is $155.08 and its two-hundred day moving average price is $139.87. GoDaddy Inc. has a 52-week low of $71.15 and a 52-week high of $167.65. The stock has a market capitalization of $22.39 billion, a P/E ratio of 13.19 and a beta of 1.13.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.06). GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the company posted $0.63 earnings per share. The business’s revenue was up 7.3% on a year-over-year basis. On average, analysts anticipate that GoDaddy Inc. will post 5.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $139.79, for a total value of $559,160.00. Following the completion of the transaction, the chief operating officer now directly owns 192,632 shares of the company’s stock, valued at approximately $26,928,027.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, COO Roger Chen sold 4,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $139.79, for a total transaction of $559,160.00. Following the sale, the chief operating officer now directly owns 192,632 shares in the company, valued at approximately $26,928,027.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Mccaffrey sold 5,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total value of $906,125.00. Following the completion of the sale, the chief financial officer now directly owns 101,286 shares in the company, valued at approximately $16,686,868.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,744 shares of company stock valued at $4,816,386. Company insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on GDDY. JPMorgan Chase & Co. upped their price target on GoDaddy from $136.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 29th. Raymond James raised their price target on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. B. Riley boosted their price objective on shares of GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Citigroup increased their price target on GoDaddy from $150.00 to $165.00 and gave the company a “buy” rating in a report on Friday, May 31st. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a research note on Monday. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.54.

About GoDaddy

GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.