12,635 Shares in GoDaddy Inc. (NYSE:GDDY) Purchased by Axecap Investments LLC

Axecap Investments LLC acquired a new position in GoDaddy Inc. (NYSE:GDDY) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 12,635 shares of the technology company’s stock, valued at approximately $1,981,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in shares of GoDaddy by 94.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock worth $433,895,000 after buying an additional 1,775,708 shares during the period. Kodai Capital Management LP acquired a new position in shares of GoDaddy during the 1st quarter worth about $75,855,000. Federated Hermes Inc. grew its position in shares of GoDaddy by 35.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after buying an additional 394,399 shares during the period. Wedge Capital Management L L P NC grew its position in shares of GoDaddy by 2,279.5% during the 3rd quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock worth $62,908,000 after buying an additional 384,386 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of GoDaddy by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock worth $1,748,603,000 after buying an additional 379,228 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Trading Down 1.1 %

NYSE GDDY opened at $161.90 on Thursday. The stock has a market capitalization of $23.10 billion, a price-to-earnings ratio of 13.45 and a beta of 1.12. The stock’s 50 day moving average price is $159.34 and its two-hundred day moving average price is $145.44. The company has a debt-to-equity ratio of 24.13, a quick ratio of 0.48 and a current ratio of 0.48. GoDaddy Inc. has a 52 week low of $71.15 and a 52 week high of $167.65.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the company earned $0.63 EPS. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, analysts anticipate that GoDaddy Inc. will post 5.07 earnings per share for the current fiscal year.

Insider Transactions at GoDaddy

In related news, Director Sigal Zarmi sold 400 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $157.61, for a total value of $63,044.00. Following the sale, the director now owns 4,661 shares in the company, valued at approximately $734,620.21. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Roger Chen sold 4,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $146.48, for a total value of $585,920.00. Following the sale, the chief operating officer now owns 188,632 shares in the company, valued at approximately $27,630,815.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sigal Zarmi sold 400 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the completion of the sale, the director now owns 4,661 shares in the company, valued at approximately $734,620.21. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,744 shares of company stock worth $5,114,931 in the last 90 days. Corporate insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Raymond James boosted their target price on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 2nd. Benchmark reiterated a “buy” rating and issued a $186.00 price objective on shares of GoDaddy in a research report on Tuesday, October 15th. Royal Bank of Canada boosted their price objective on GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $172.00 price objective (up from $160.00) on shares of GoDaddy in a research report on Monday, September 23rd. Five equities research analysts have rated the stock with a hold rating, nine 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 a consensus target price of $166.54.

GoDaddy Company 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.