Point72 Asset Management L.P. Acquires 266,678 Shares of GoDaddy Inc. (NYSE:GDDY)

Point72 Asset Management L.P. lifted its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 107.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 515,609 shares of the technology company's stock after acquiring an additional 266,678 shares during the quarter. Point72 Asset Management L.P. owned 0.37% of GoDaddy worth $101,766,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Proficio Capital Partners LLC purchased a new stake in shares of GoDaddy during the fourth quarter worth about $25,554,000. Mount Yale Investment Advisors LLC increased its holdings in GoDaddy by 205.3% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 5,626 shares of the technology company's stock valued at $1,110,000 after buying an additional 3,783 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in GoDaddy by 68.4% in the fourth 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. Principal Financial Group Inc. increased its holdings in GoDaddy by 3.4% in the third quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company's stock valued at $31,052,000 after buying an additional 6,424 shares during the last quarter. Finally, Cottonwood Capital Advisors LLC increased its holdings in GoDaddy by 98.2% in the fourth quarter. Cottonwood Capital Advisors LLC now owns 3,405 shares of the technology company's stock valued at $672,000 after buying an additional 1,687 shares during the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. UBS Group boosted their price objective on GoDaddy from $172.00 to $225.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Citigroup lowered their price objective on GoDaddy from $260.00 to $234.00 and set a "buy" rating for the company in a report on Friday, April 25th. Royal Bank of Canada lowered their price objective on GoDaddy from $230.00 to $225.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Raymond James lifted their target price on GoDaddy from $185.00 to $230.00 and gave the company a "strong-buy" rating in a research note on Tuesday, January 21st. Finally, Benchmark restated a "buy" rating on shares of GoDaddy in a research note on Monday, April 28th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, GoDaddy currently has an average rating of "Moderate Buy" and an average target price of $214.86.

Insider Buying and Selling

In related news, COO Roger Chen sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $171.75, for a total transaction of $171,750.00. Following the sale, the chief operating officer now owns 256,949 shares of the company's stock, valued at $44,130,990.75. The trade was a 0.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian Sharples sold 500 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $180.66, for a total value of $90,330.00. Following the sale, the director now directly owns 22,121 shares in the company, valued at approximately $3,996,379.86. The trade was a 2.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,500 shares of company stock valued at $10,050,555 over the last quarter. Corporate insiders own 0.61% of the company's stock.

GoDaddy Stock Performance

Shares of NYSE GDDY traded up $0.32 during midday trading on Friday, hitting $190.27. 1,204,177 shares of the company's stock were exchanged, compared to its average volume of 1,481,357. 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's 50 day moving average price is $178.47 and its 200-day moving average price is $189.13. The firm has a market cap of $27.11 billion, a P/E ratio of 29.50 and a beta of 1.13. GoDaddy Inc. has a twelve month low of $135.03 and a twelve month high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The business's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.76 earnings per share. Equities research analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current year.

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.