Caxton Associates LLP Takes $3.65 Million Position in GoDaddy Inc. $GDDY

Key Points

• Caxton Associates LLP acquired a new position in GoDaddy Inc., purchasing 20,235 shares valued at approximately $3,645,000 during the first quarter.
• Several hedge funds showed significant activity with GoDaddy, including Goldman Sachs increasing its holdings by 257.3%, now owning over 2.2 million shares valued at nearly $403 million.
• GoDaddy's recent quarterly earnings surpassed expectations, reporting $1.41 EPS against estimates of $1.34, with annual revenue growth of 8.3%.

Caxton Associates LLP acquired a new position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 20,235 shares of the technology company's stock, valued at approximately $3,645,000.

Several other hedge funds have also recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its holdings in shares of GoDaddy by 257.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,236,850 shares of the technology company's stock worth $402,946,000 after purchasing an additional 1,610,890 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of GoDaddy by 1,412.1% during the first quarter. Assenagon Asset Management S.A. now owns 1,347,434 shares of the technology company's stock worth $242,727,000 after purchasing an additional 1,258,324 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of GoDaddy by 41.1% during the first quarter. JPMorgan Chase & Co. now owns 2,439,905 shares of the technology company's stock worth $439,525,000 after purchasing an additional 710,842 shares during the period. Pacer Advisors Inc. increased its holdings in shares of GoDaddy by 893.4% during the first quarter. Pacer Advisors Inc. now owns 647,747 shares of the technology company's stock worth $116,685,000 after purchasing an additional 582,539 shares during the period. Finally, GAMMA Investing LLC increased its stake in GoDaddy by 18,248.7% in the first quarter. GAMMA Investing LLC now owns 513,579 shares of the technology company's stock valued at $92,516,000 after acquiring an additional 510,780 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Leah Sweet sold 650 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $141.14, for a total value of $91,741.00. Following the transaction, the director owned 12,064 shares in the company, valued at $1,702,712.96. The trade was a 5.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Mccaffrey sold 3,326 shares of the business's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $142.21, for a total transaction of $472,990.46. Following the completion of the transaction, the chief financial officer owned 70,133 shares in the company, valued at approximately $9,973,613.93. The trade was a 4.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,828 shares of company stock valued at $5,424,888 over the last quarter. Company insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of GoDaddy from $198.00 to $157.00 and set an "equal weight" rating on the stock in a research note on Friday, August 8th. Citigroup decreased their price objective on shares of GoDaddy from $234.00 to $214.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Raymond James Financial decreased their price objective on shares of GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating on the stock in a research note on Friday, August 8th. Barclays decreased their price objective on shares of GoDaddy from $235.00 to $200.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Finally, Royal Bank Of Canada decreased their target price on shares of GoDaddy from $225.00 to $200.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, GoDaddy presently has a consensus rating of "Moderate Buy" and an average price target of $202.43.

GoDaddy Trading Down 2.2%

GDDY stock traded down $3.29 during midday trading on Friday, hitting $145.30. The stock had a trading volume of 974,323 shares, compared to its average volume of 1,542,518. The firm has a market cap of $20.12 billion, a P/E ratio of 25.95, a price-to-earnings-growth ratio of 1.61 and a beta of 1.02. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 9.33. GoDaddy Inc. has a 1-year low of $132.51 and a 1-year high of $216.00. The business has a fifty day moving average price of $154.93 and a two-hundred day moving average price of $170.47.

GoDaddy (NYSE:GDDY - Get Free Report) last released its earnings results on Thursday, August 7th. The technology company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.07. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. GoDaddy had a net margin of 17.01% and a return on equity of 189.42%. GoDaddy's revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.01 earnings per share. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, sell-side analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

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.