Point72 Hong Kong Ltd Invests $1.29 Million in GoDaddy Inc. (NYSE:GDDY)

Point72 Hong Kong Ltd purchased a new position in GoDaddy Inc. (NYSE:GDDY) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 6,530 shares of the technology company’s stock, valued at approximately $1,289,000.

A number of other large investors also recently modified their holdings of the business. Proficio Capital Partners LLC bought a new stake in GoDaddy in the 4th quarter valued at about $25,554,000. Mount Yale Investment Advisors LLC lifted its position in GoDaddy by 205.3% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 5,626 shares of the technology company’s stock valued at $1,110,000 after purchasing an additional 3,783 shares during the last quarter. Jones Financial Companies Lllp lifted 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 purchasing an additional 499 shares during the last quarter. Cottonwood Capital Advisors LLC lifted its position in GoDaddy by 98.2% in the 4th quarter. Cottonwood Capital Advisors LLC now owns 3,405 shares of the technology company’s stock valued at $672,000 after purchasing an additional 1,687 shares during the last quarter. Finally, Diversify Advisory Services LLC bought a new stake in GoDaddy in the 4th quarter valued at about $271,000. 90.28% of the stock is currently owned by institutional investors.

GoDaddy Trading Up 0.9%

Shares of GoDaddy stock opened at $189.80 on Friday. The firm has a market capitalization of $27.04 billion, a PE ratio of 29.43 and a beta of 1.13. 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 company’s fifty day moving average price is $178.11 and its two-hundred day moving average price is $188.58. GoDaddy Inc. has a 52-week low of $134.63 and a 52-week high of $216.00.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, May 1st. The technology company reported $1.27 EPS 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 firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the firm posted $2.76 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, analysts expect that GoDaddy Inc. will post 6.63 EPS for the current year.

Insider Buying and Selling

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $180.66, for a total transaction of $541,980.00. Following the transaction, the chief executive officer now owns 505,649 shares in the company, valued at $91,350,548.34. This represents a 0.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian Sharples sold 500 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $180.66, for a total transaction of $90,330.00. Following the transaction, the director now owns 22,121 shares in the company, valued at approximately $3,996,379.86. The trade was a 2.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,500 shares of company stock worth $10,050,555 in the last 90 days. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Piper Sandler lifted their price objective on shares of GoDaddy from $177.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. StockNews.com downgraded shares of GoDaddy from a “buy” rating to a “hold” rating in a research report on Tuesday. Raymond James lifted their price objective on shares of GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 21st. UBS Group lifted their price objective on shares of GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Finally, Jefferies Financial Group lowered their target price on shares of GoDaddy from $200.00 to $185.00 and set a “hold” rating on the stock in a research note on Monday, April 7th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $214.86.

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.