Soros Capital Management LLC Sells 7,533 Shares of GoDaddy Inc. (NYSE:GDDY)

Soros Capital Management LLC reduced its stake in GoDaddy Inc. (NYSE:GDDY) by 24.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,762 shares of the technology company’s stock after selling 7,533 shares during the period. GoDaddy accounts for approximately 0.9% of Soros Capital Management LLC’s holdings, making the stock its 29th largest holding. Soros Capital Management LLC’s holdings in GoDaddy were worth $3,569,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. boosted its position in shares of GoDaddy by 3.4% in the 3rd quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock worth $31,052,000 after purchasing an additional 6,424 shares during the last quarter. Highland Capital Management LLC bought a new position in shares of GoDaddy in the 3rd quarter worth $1,132,000. Plato Investment Management Ltd boosted its position in shares of GoDaddy by 2,471.0% in the 1st quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock worth $769,000 after purchasing an additional 6,227 shares during the last quarter. Swedbank AB boosted its position in shares of GoDaddy by 3.5% in the 2nd quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock worth $21,425,000 after purchasing an additional 5,247 shares during the last quarter. Finally, Crossmark Global Holdings Inc. boosted its position in shares of GoDaddy by 28.0% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock worth $6,907,000 after purchasing an additional 9,631 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors.

Insider Transactions at GoDaddy

In other news, Director Brian Sharples sold 500 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $179.00, for a total transaction of $89,500.00. Following the completion of the sale, the director now owns 24,121 shares in the company, valued at $4,317,659. The trade was a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $152.17, for a total value of $152,170.00. Following the sale, the chief operating officer now owns 187,632 shares of the company’s stock, valued at approximately $28,551,961.44. This represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,345 shares of company stock worth $3,897,255 over the last quarter. Company insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on GDDY shares. Barclays lifted their target price on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Piper Sandler lifted their target price on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Royal Bank of Canada lifted their target price on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, B. Riley lifted their target price on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, GoDaddy presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.31.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $199.73 on Wednesday. The business’s 50 day moving average price is $168.48 and its two-hundred day moving average price is $154.54. The company has a market cap of $28.04 billion, a PE ratio of 15.44 and a beta of 1.11. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. GoDaddy Inc. has a twelve month low of $94.50 and a twelve month high of $202.56.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.89 earnings per share. On average, analysts predict that GoDaddy Inc. will post 4.95 EPS for the current year.

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.