Lecap Asset Management Ltd. Buys New Position in GoDaddy Inc. (NYSE:GDDY)

Lecap Asset Management Ltd. bought a new position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund bought 10,269 shares of the technology company's stock, valued at approximately $1,850,000.

A number of other hedge funds also recently made changes to their positions in GDDY. Norges Bank bought a new stake in shares of GoDaddy during the 4th quarter worth $356,038,000. Assenagon Asset Management S.A. raised its stake in shares of GoDaddy by 1,412.1% during the 1st 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. Canada Pension Plan Investment Board raised its stake in shares of GoDaddy by 107.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company's stock worth $273,582,000 after purchasing an additional 719,000 shares during the period. GAMMA Investing LLC raised its stake in shares of GoDaddy by 18,248.7% during the 1st quarter. GAMMA Investing LLC now owns 513,579 shares of the technology company's stock worth $92,516,000 after purchasing an additional 510,780 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in shares of GoDaddy by 88.2% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,082,381 shares of the technology company's stock worth $213,630,000 after purchasing an additional 507,374 shares during the period. 90.28% of the stock is currently owned by institutional investors.

GoDaddy Price Performance

Shares of NYSE GDDY traded up $3.00 during midday trading on Friday, hitting $180.19. 1,866,062 shares of the company's stock were exchanged, compared to its average volume of 1,342,796. The company has a market cap of $25.67 billion, a price-to-earnings ratio of 34.65 and a beta of 1.07. The business's fifty day moving average price is $181.41 and its two-hundred day moving average price is $187.07. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 18.91. GoDaddy Inc. has a 12-month low of $138.48 and a 12-month high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.08). The firm had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.19 billion. GoDaddy had a return on equity of 211.09% and a net margin of 16.20%. The firm's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.76 EPS. As a group, research analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GDDY has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their price objective on GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Jefferies Financial Group lowered their price objective on GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a research note on Monday, April 7th. Royal Bank Of Canada restated an "outperform" rating and issued a $225.00 price objective on shares of GoDaddy in a research note on Monday. Wall Street Zen cut GoDaddy from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Barclays lowered their price objective on GoDaddy from $243.00 to $235.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $214.86.

Insiders Place Their Bets

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total transaction of $539,550.00. Following the completion of the sale, the chief executive officer now owns 443,947 shares of the company's stock, valued at approximately $79,843,867.95. This represents a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total value of $989,175.00. Following the sale, the chief financial officer now directly owns 115,375 shares of the company's stock, valued at approximately $20,750,193.75. This trade represents a 4.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,632 shares of company stock valued at $12,602,635 over the last quarter. 0.61% of the stock is owned by corporate insiders.

GoDaddy 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.