Point72 Asia Singapore Pte. Ltd. Buys Shares of 2,060 GoDaddy Inc. (NYSE:GDDY)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of GoDaddy Inc. (NYSE:GDDY) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 2,060 shares of the technology company’s stock, valued at approximately $407,000.

Other hedge funds also recently made changes to their positions in the company. WCM Investment Management LLC raised its position in GoDaddy by 7,083.4% during the fourth quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock valued at $678,941,000 after purchasing an additional 3,356,678 shares in the last quarter. Norges Bank bought a new stake in GoDaddy in the 4th quarter worth approximately $356,038,000. Canada Pension Plan Investment Board lifted its holdings in shares of GoDaddy by 107.8% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company’s stock worth $273,582,000 after acquiring an additional 719,000 shares during the last quarter. Congress Asset Management Co. purchased a new stake in shares of GoDaddy in the 4th quarter valued at $111,923,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of GoDaddy by 88.2% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,082,381 shares of the technology company’s stock valued at $213,630,000 after purchasing an additional 507,374 shares during the last quarter. 90.28% of the stock is owned by institutional investors.

GoDaddy Trading Up 0.9%

NYSE GDDY 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 stock’s 50 day moving average is $178.11 and its 200 day moving average is $188.58. GoDaddy Inc. has a twelve month low of $134.63 and a twelve month high of $216.00. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.08). The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.19 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.76 earnings per share. Research analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $171.75, for a total value of $171,750.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Mccaffrey sold 37,500 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $180.95, for a total transaction of $6,785,625.00. Following the sale, the chief financial officer now directly owns 77,250 shares in the company, valued at $13,978,387.50. This trade represents a 32.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,500 shares of company stock valued at $10,050,555. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

GDDY has been the topic of several analyst reports. Raymond James lifted their price objective on GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 21st. StockNews.com lowered GoDaddy from a “buy” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. upped their price target on shares of GoDaddy from $231.00 to $240.00 and gave the company an “overweight” rating in a report on Tuesday, May 6th. Piper Sandler raised their price target on shares of GoDaddy from $177.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Finally, Morgan Stanley lowered their price objective on shares of GoDaddy from $228.00 to $206.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Seven investment 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. According to MarketBeat, GoDaddy has an average rating of “Moderate Buy” and an average price target 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.