Two Sigma Investments LP Reduces Stock Position in GoDaddy Inc. (NYSE:GDDY)

Two Sigma Investments LP reduced its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 91.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,800 shares of the technology company's stock after selling 174,447 shares during the quarter. Two Sigma Investments LP's holdings in GoDaddy were worth $3,316,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Rakuten Securities Inc. boosted its holdings in GoDaddy by 311.3% during the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company's stock valued at $43,000 after acquiring an additional 165 shares during the period. OFI Invest Asset Management purchased a new position in shares of GoDaddy in the 4th quarter valued at about $52,000. Summit Securities Group LLC acquired a new stake in shares of GoDaddy during the 4th quarter worth about $58,000. Physician Wealth Advisors Inc. acquired a new stake in shares of GoDaddy during the 4th quarter worth about $67,000. Finally, Global Retirement Partners LLC raised its position in shares of GoDaddy by 31.1% during the 4th quarter. Global Retirement Partners LLC now owns 392 shares of the technology company's stock worth $77,000 after acquiring an additional 93 shares in the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Price Performance

Shares of GDDY stock traded down $0.43 during trading hours on Tuesday, hitting $181.64. 1,535,962 shares of the company's stock were exchanged, compared to its average volume of 1,476,766. The stock's 50-day moving average is $179.28 and its 200-day moving average is $189.50. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The stock has a market cap of $25.88 billion, a price-to-earnings ratio of 28.16 and a beta of 1.13. GoDaddy Inc. has a 52 week low of $135.73 and a 52 week high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last released its earnings results 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 net margin of 20.49% and a return on equity of 176.06%. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the company posted $2.76 EPS. The company's quarterly revenue was up 8.6% compared to the same quarter last year. As a group, research analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current year.

Analysts Set New Price Targets

GDDY has been the topic of a number of recent research reports. B. Riley boosted their target price on GoDaddy from $220.00 to $225.00 and gave the company a "buy" rating in a report on Friday, February 14th. UBS Group increased their target price on GoDaddy from $172.00 to $225.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. JPMorgan Chase & Co. upped their price target on GoDaddy from $231.00 to $240.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Piper Sandler increased their target price on GoDaddy from $177.00 to $180.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Finally, Wall Street Zen lowered GoDaddy from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $214.86.

Insider Activity

In other news, CFO Mark Mccaffrey sold 37,500 shares of GoDaddy stock in a transaction on Monday, May 5th. The stock was sold at an average price of $180.95, for a total value of $6,785,625.00. Following the transaction, the chief financial officer now owns 77,250 shares in the company, valued at approximately $13,978,387.50. This trade represents a 32.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the business's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $174.21, for a total value of $174,210.00. Following the sale, the chief operating officer now owns 257,949 shares in the company, valued at $44,937,295.29. This represents a 0.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 53,026 shares of company stock valued at $9,611,406 over the last three months. Insiders own 0.61% of the company's stock.

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.