6,530 Shares in GoDaddy Inc. (NYSE:GDDY) Purchased by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd bought a new stake in GoDaddy Inc. (NYSE:GDDY - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,530 shares of the technology company's stock, valued at approximately $1,289,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Quent Capital LLC lifted its stake in GoDaddy by 4.4% in the fourth quarter. Quent Capital LLC now owns 1,259 shares of the technology company's stock valued at $248,000 after acquiring an additional 53 shares during the last quarter. Advisors Capital Management LLC lifted its stake in shares of GoDaddy by 0.9% in the fourth quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company's stock worth $1,223,000 after buying an additional 55 shares during the last quarter. BNP Paribas lifted its stake in shares of GoDaddy by 2.9% in the fourth quarter. BNP Paribas now owns 2,111 shares of the technology company's stock worth $417,000 after buying an additional 59 shares during the last quarter. Lake Street Advisors Group LLC lifted its stake in shares of GoDaddy by 4.7% in the fourth quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company's stock worth $283,000 after buying an additional 64 shares during the last quarter. Finally, New York Life Investment Management LLC lifted its stake in shares of GoDaddy by 0.4% in the fourth quarter. New York Life Investment Management LLC now owns 18,785 shares of the technology company's stock worth $3,708,000 after buying an additional 71 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $180.66, for a total value of $541,980.00. Following the sale, the chief executive officer now owns 505,649 shares in the company, valued at approximately $91,350,548.34. The trade was a 0.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian Sharples sold 500 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $180.66, for a total transaction of $90,330.00. Following the completion of the sale, the director now owns 22,121 shares in the company, valued at $3,996,379.86. This represents a 2.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,526 shares of company stock valued at $10,243,716 in the last 90 days. 0.61% of the stock is currently owned by company insiders.

GoDaddy Stock Performance

GoDaddy stock traded down $4.06 on Wednesday, hitting $184.09. The company's stock had a trading volume of 548,253 shares, compared to its average volume of 1,515,088. The firm has a market cap of $26.23 billion, a P/E ratio of 28.58 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 has a fifty day moving average price of $179.11 and a 200-day moving average price of $189.30. GoDaddy Inc. has a one year low of $135.73 and a one year high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly 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 business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The company's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the firm earned $2.76 EPS. On average, equities analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Barclays reduced their price objective on shares of GoDaddy from $243.00 to $235.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. B. Riley boosted their price objective on shares of GoDaddy from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. StockNews.com cut shares of GoDaddy from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Jefferies Financial Group reduced their price objective on shares of GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a research note on Monday, April 7th. Finally, Piper Sandler boosted their target price on shares of GoDaddy from $177.00 to $180.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. 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's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $214.86.

About GoDaddy

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.