Point72 Asia Singapore Pte. Ltd. Invests $407,000 in GoDaddy Inc. (NYSE:GDDY)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,060 shares of the technology company's stock, valued at approximately $407,000.

Several other institutional investors have also recently bought and sold shares of GDDY. Proficio Capital Partners LLC bought a new position in GoDaddy in the 4th quarter valued at about $25,554,000. Mount Yale Investment Advisors LLC grew its holdings in GoDaddy by 205.3% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 5,626 shares of the technology company's stock worth $1,110,000 after buying an additional 3,783 shares in the last quarter. Jones Financial Companies Lllp raised its position in GoDaddy by 68.4% in the 4th quarter. Jones Financial Companies Lllp now owns 1,229 shares of the technology company's stock valued at $243,000 after buying an additional 499 shares during the last quarter. Cottonwood Capital Advisors LLC lifted its stake in GoDaddy by 98.2% during the 4th quarter. Cottonwood Capital Advisors LLC now owns 3,405 shares of the technology company's stock valued at $672,000 after acquiring an additional 1,687 shares in the last quarter. Finally, Diversify Advisory Services LLC purchased a new position in GoDaddy during the 4th quarter worth $271,000. Institutional investors and hedge funds own 90.28% of the company's stock.

Insiders Place Their Bets

In other news, COO Roger Chen sold 1,000 shares of the 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 sale, the chief operating officer now directly owns 256,949 shares of the company's stock, valued at approximately $44,130,990.75. This represents a 0.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark Mccaffrey sold 5,500 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total transaction of $989,175.00. Following the transaction, the chief financial officer now directly owns 115,375 shares of the company's stock, valued at approximately $20,750,193.75. This represents a 4.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,500 shares of company stock worth $10,050,555 in the last quarter. 0.61% of the stock is owned by company insiders.

GoDaddy Stock Performance

NYSE GDDY opened at $189.80 on Friday. The firm has a market cap of $27.04 billion, a P/E ratio of 29.43 and a beta of 1.13. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. The company's 50 day moving average is $178.11 and its 200-day moving average is $188.58. GoDaddy Inc. has a 12-month low of $134.63 and a 12-month high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing analysts' consensus estimates of $1.35 by ($0.08). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the business earned $2.76 earnings per share. GoDaddy's revenue was up 8.6% on a year-over-year basis. Sell-side analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on GDDY. JPMorgan Chase & Co. increased their target price on shares of GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. StockNews.com downgraded GoDaddy from a "buy" rating to a "hold" rating in a research note on Tuesday. Morgan Stanley dropped their price target on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Raymond James boosted their price objective on GoDaddy from $185.00 to $230.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, January 21st. Finally, Wells Fargo & Company started coverage on GoDaddy in a research report on Monday, February 3rd. They set an "equal weight" rating and a $198.00 target price for the company. Seven 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 stock. Based on data from MarketBeat, GoDaddy presently has an average rating of "Moderate Buy" and an average target price of $214.86.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.