Engle Capital Management L.P. Purchases 61,100 Shares of GoDaddy Inc. (NYSE:GDDY)

Engle Capital Management L.P. increased its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 95.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 125,000 shares of the technology company's stock after acquiring an additional 61,100 shares during the quarter. GoDaddy comprises approximately 7.4% of Engle Capital Management L.P.'s holdings, making the stock its 3rd largest holding. Engle Capital Management L.P. owned 0.09% of GoDaddy worth $24,671,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rakuten Securities Inc. raised its stake in shares of GoDaddy by 311.3% in the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company's stock valued at $43,000 after buying an additional 165 shares in the last quarter. Friedenthal Financial acquired a new position in shares of GoDaddy in the 4th quarter valued at $49,000. OFI Invest Asset Management acquired a new position in shares of GoDaddy in the 4th quarter valued at $52,000. Summit Securities Group LLC acquired a new position in shares of GoDaddy in the 4th quarter valued at $58,000. Finally, Physician Wealth Advisors Inc. acquired a new position in shares of GoDaddy in the 4th quarter valued at $67,000. Institutional investors own 90.28% of the company's stock.

GoDaddy Trading Up 0.2%

Shares of NYSE:GDDY traded up $0.37 during midday trading on Wednesday, hitting $187.86. The company had a trading volume of 707,217 shares, compared to its average volume of 1,472,439. The firm has a fifty day simple moving average of $177.52 and a 200 day simple moving average of $188.38. GoDaddy Inc. has a 12 month low of $131.84 and a 12 month high of $216.00. The stock has a market cap of $26.77 billion, a price-to-earnings ratio of 29.13 and a beta of 1.13. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.08). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the business earned $2.76 EPS. The firm's revenue was up 8.6% compared to the same quarter last year. On average, analysts predict that GoDaddy Inc. will post 6.63 EPS for the current year.

Insider Buying and Selling

In related news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $180.66, for a total transaction of $90,330.00. Following the transaction, the director now owns 22,121 shares of the company's stock, valued at $3,996,379.86. This trade represents a 2.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $180.66, for a total transaction of $541,980.00. Following the completion of the transaction, the chief executive officer now directly owns 505,649 shares in the company, valued at approximately $91,350,548.34. The trade was a 0.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,500 shares of company stock valued at $10,244,835 in the last 90 days. 0.61% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GDDY. Citigroup dropped their target price on shares of GoDaddy from $260.00 to $234.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Benchmark reiterated a "buy" rating on shares of GoDaddy in a research report on Monday, April 28th. JPMorgan Chase & Co. increased their target price on shares of GoDaddy from $231.00 to $240.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. UBS Group raised their price target on GoDaddy from $172.00 to $225.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Finally, Jefferies Financial Group lowered their price objective on shares of GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a research report on Monday, April 7th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, GoDaddy presently has an average rating of "Moderate Buy" and a consensus price target of $214.86.

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.