Praxis Investment Management Inc. Takes $630,000 Position in GoDaddy Inc. (NYSE:GDDY)

Praxis Investment Management Inc. bought a new position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,500 shares of the technology company's stock, valued at approximately $630,000.

Other hedge funds have also bought and sold shares of the company. Norges Bank acquired a new stake in GoDaddy during the 4th quarter worth about $356,038,000. Assenagon Asset Management S.A. boosted its position 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 valued at $242,727,000 after purchasing an additional 1,258,324 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in GoDaddy by 107.8% during the fourth 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 increased its holdings in GoDaddy by 18,248.7% in the first 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 in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in GoDaddy by 88.2% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,082,381 shares of the technology company's stock valued at $213,630,000 after buying an additional 507,374 shares during the period. Institutional investors own 90.28% of the company's stock.

GoDaddy Stock Down 1.0%

GDDY opened at $174.70 on Friday. The company has a 50 day moving average of $180.84 and a 200 day moving average of $187.90. The company has a market cap of $24.89 billion, a PE ratio of 33.60 and a beta of 1.07. GoDaddy Inc. has a 12 month low of $136.75 and a 12 month high of $216.00. 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 (NYSE:GDDY - Get Free Report) last posted 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 company had revenue of $1.19 billion for 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 company's revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.76 EPS. On average, sell-side analysts expect that GoDaddy Inc. will post 6.63 EPS for the current year.

Insider Activity at GoDaddy

In related news, CAO Phontip Palitwanon sold 684 shares of GoDaddy stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $179.81, for a total transaction of $122,990.04. Following the completion of the sale, the chief accounting officer now owns 23,371 shares of the company's stock, valued at approximately $4,202,339.51. This trade represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Roger Chen sold 1,000 shares of the firm's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $171.75, for a total value of $171,750.00. Following the completion of the sale, the chief operating officer now directly owns 256,949 shares in the company, valued at approximately $44,130,990.75. The trade was a 0.39% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,632 shares of company stock valued at $12,602,635. Corporate insiders own 0.61% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GDDY. Wall Street Zen downgraded shares of GoDaddy from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Jefferies Financial Group cut their target price on shares of GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a research note on Monday, April 7th. Morgan Stanley decreased their price target on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. increased their price objective 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. Finally, Royal Bank Of Canada reduced their target price on GoDaddy from $230.00 to $225.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $214.86.

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.

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