GoDaddy Inc. (NYSE:GDDY) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. trimmed its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 12.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 650,881 shares of the technology company’s stock after selling 95,619 shares during the quarter. Point72 Asset Management L.P. owned 0.46% of GoDaddy worth $90,935,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its position in shares of GoDaddy by 94.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock worth $433,895,000 after purchasing an additional 1,775,708 shares during the period. Kodai Capital Management LP acquired a new stake in shares of GoDaddy in the first quarter valued at $75,855,000. Bank of Nova Scotia raised its holdings in shares of GoDaddy by 3,411.0% in 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. lifted its stake in 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 acquiring an additional 394,399 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in GoDaddy by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock worth $1,748,603,000 after acquiring an additional 379,228 shares in the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Trading Down 0.5 %

NYSE GDDY opened at $157.78 on Wednesday. The firm’s fifty day moving average is $154.79 and its two-hundred day moving average is $139.74. GoDaddy Inc. has a one year low of $71.15 and a one year high of $167.65. The company has a debt-to-equity ratio of 24.13, a quick ratio of 0.48 and a current ratio of 0.48. The firm has a market cap of $22.24 billion, a PE ratio of 13.10 and a beta of 1.13.

GoDaddy (NYSE:GDDY) last issued 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 company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the firm earned $0.63 EPS. The business’s revenue was up 7.3% on a year-over-year basis. Analysts expect that GoDaddy Inc. will post 5.06 earnings per share for the current year.

Insider Transactions at GoDaddy

In related news, Director Sigal Zarmi sold 400 shares of GoDaddy stock in a transaction on Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the transaction, the director now directly owns 4,661 shares in the company, valued at approximately $734,620.21. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Sigal Zarmi sold 400 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the completion of the sale, the director now owns 4,661 shares in the company, valued at $734,620.21. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction that occurred on 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 sale, the chief operating officer now owns 192,632 shares in the company, valued at $26,928,027.28. The disclosure for this sale can be found here. Insiders sold 31,744 shares of company stock worth $4,816,386 over the last 90 days. 0.61% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on GDDY. StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Robert W. Baird upped their target price on shares of GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. B. Riley raised their price target on shares of GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, July 12th. JPMorgan Chase & Co. boosted their price target on shares of GoDaddy from $136.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 29th. Finally, Barclays increased their price objective on GoDaddy from $150.00 to $165.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $165.00.

GoDaddy Company Profile

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.