Point72 Asset Management L.P. Reduces Stock Position in GoDaddy Inc. (NYSE:GDDY)

Point72 Asset Management L.P. lowered its position in shares of GoDaddy Inc. (NYSE:GDDY) by 61.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 248,931 shares of the technology company’s stock after selling 401,950 shares during the period. Point72 Asset Management L.P. owned about 0.18% of GoDaddy worth $39,027,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Cetera Investment Advisers lifted its position in shares of GoDaddy by 365.9% in the 1st quarter. Cetera Investment Advisers now owns 16,198 shares of the technology company’s stock worth $1,922,000 after purchasing an additional 12,721 shares during the period. Cetera Advisors LLC lifted its position in shares of GoDaddy by 16.0% in the 1st quarter. Cetera Advisors LLC now owns 7,755 shares of the technology company’s stock worth $920,000 after purchasing an additional 1,068 shares during the period. GAMMA Investing LLC lifted its position in shares of GoDaddy by 315.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,093 shares of the technology company’s stock worth $153,000 after purchasing an additional 830 shares during the period. Park Avenue Securities LLC lifted its position in shares of GoDaddy by 32.2% in the 2nd quarter. Park Avenue Securities LLC now owns 7,600 shares of the technology company’s stock worth $1,062,000 after purchasing an additional 1,853 shares during the period. Finally, CWM LLC lifted its position in shares of GoDaddy by 4.5% in the 2nd quarter. CWM LLC now owns 5,875 shares of the technology company’s stock worth $821,000 after purchasing an additional 252 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GDDY. StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $230.00 price target (up from $190.00) on shares of GoDaddy in a research note on Wednesday. Robert W. Baird increased their price target on shares of GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Benchmark increased their price target on shares of GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Barclays increased their price target on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $176.38.

Insider Buying and Selling

In other news, CAO Nick Daddario sold 2,976 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $151.61, for a total value of $451,191.36. Following the completion of the transaction, the chief accounting officer now owns 14,728 shares of the company’s stock, valued at $2,232,912.08. The trade was a 16.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Phontip Palitwanon sold 770 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total value of $151,412.80. Following the completion of the transaction, the chief accounting officer now directly owns 23,059 shares of the company’s stock, valued at $4,534,321.76. The trade was a 3.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,925 shares of company stock worth $4,237,184 in the last ninety days. 0.61% of the stock is owned by insiders.

GoDaddy Trading Up 4.9 %

GDDY stock opened at $208.15 on Thursday. The stock has a market capitalization of $29.22 billion, a price-to-earnings ratio of 16.09 and a beta of 1.15. GoDaddy Inc. has a twelve month low of $99.90 and a twelve month high of $208.71. The firm’s fifty day simple moving average is $173.43 and its two-hundred day simple moving average is $157.12. 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 (NYSE:GDDY) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. GoDaddy’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company earned $0.89 EPS. As a group, analysts anticipate that GoDaddy Inc. will post 4.98 earnings per share 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.