Lecap Asset Management Ltd. Acquires Shares of 21,930 GoDaddy Inc. (NYSE:GDDY)

Lecap Asset Management Ltd. purchased a new position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 21,930 shares of the technology company's stock, valued at approximately $2,328,000. GoDaddy accounts for 0.8% of Lecap Asset Management Ltd.'s investment portfolio, making the stock its 18th biggest holding.

A number of other hedge funds have also modified their holdings of the business. Achmea Investment Management B.V. acquired a new position in GoDaddy during the 1st quarter worth about $31,000. Quent Capital LLC lifted its stake in GoDaddy by 2,113.6% during the 3rd quarter. Quent Capital LLC now owns 487 shares of the technology company's stock worth $36,000 after acquiring an additional 465 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in GoDaddy by 140.4% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company's stock worth $37,000 after acquiring an additional 205 shares in the last quarter. Fifth Third Bancorp acquired a new position in GoDaddy during the 3rd quarter worth about $43,000. Finally, Cary Street Partners Investment Advisory LLC acquired a new position in GoDaddy during the 3rd quarter worth about $44,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at GoDaddy

In other news, CFO Mark Mccaffrey sold 624 shares of the business's stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $120.83, for a total transaction of $75,397.92. Following the completion of the sale, the chief financial officer now owns 116,328 shares in the company, valued at approximately $14,055,912.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Nick Daddario sold 1,823 shares of the company's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $110.54, for a total value of $201,514.42. Following the completion of the sale, the chief accounting officer now owns 25,263 shares in the company, valued at approximately $2,792,572.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark Mccaffrey sold 624 shares of the company's stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $120.83, for a total transaction of $75,397.92. Following the completion of the sale, the chief financial officer now owns 116,328 shares of the company's stock, valued at approximately $14,055,912.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 121,234 shares of company stock worth $13,534,946. 0.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GDDY has been the topic of several research reports. Evercore ISI lowered GoDaddy from an "outperform" rating to an "in-line" rating and increased their target price for the stock from $100.00 to $110.00 in a research note on Wednesday, February 14th. Morgan Stanley increased their target price on GoDaddy from $120.00 to $132.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 14th. Raymond James started coverage on GoDaddy in a research report on Wednesday, March 27th. They issued a "strong-buy" rating and a $150.00 price target on the stock. StockNews.com raised GoDaddy from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, February 14th. Finally, B. Riley increased their price target on GoDaddy from $124.00 to $142.00 and gave the company a "buy" rating in a research report on Thursday, March 7th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $135.18.

GoDaddy Stock Down 2.6 %

GDDY stock traded down $3.31 during midday trading on Friday, reaching $123.30. 1,349,315 shares of the company were exchanged, compared to its average volume of 1,183,282. The company has a market cap of $17.57 billion, a price-to-earnings ratio of 12.87 and a beta of 1.12. The company has a debt-to-equity ratio of 61.07, a quick ratio of 0.47 and a current ratio of 0.47. GoDaddy Inc. has a 1-year low of $67.43 and a 1-year high of $127.15. The stock's 50-day simple moving average is $116.54 and its 200 day simple moving average is $101.59.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.05. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. GoDaddy had a net margin of 32.74% and a negative return on equity of 89.25%. On average, equities analysts forecast that GoDaddy Inc. will post 4.76 earnings per share for the current year.

GoDaddy Company 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.