ExodusPoint Capital Management LP Buys Shares of 20,967 GoDaddy Inc. (NYSE:GDDY)

ExodusPoint Capital Management LP purchased a new position in shares of GoDaddy Inc. (NYSE:GDDY) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,967 shares of the technology company’s stock, valued at approximately $4,138,000.

Other large investors also recently modified their holdings of the company. Motley Fool Asset Management LLC grew its position in GoDaddy by 11.4% during the 4th quarter. Motley Fool Asset Management LLC now owns 3,197 shares of the technology company’s stock worth $631,000 after acquiring an additional 328 shares during the last quarter. OneAscent Financial Services LLC acquired a new stake in shares of GoDaddy during the fourth quarter valued at about $201,000. Kesler Norman & Wride LLC boosted its stake in shares of GoDaddy by 34.3% during the fourth quarter. Kesler Norman & Wride LLC now owns 4,978 shares of the technology company’s stock valued at $983,000 after purchasing an additional 1,270 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of GoDaddy by 13.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 45,242 shares of the technology company’s stock worth $8,929,000 after purchasing an additional 5,457 shares during the last quarter. Finally, Alliance Wealth Management Group acquired a new position in shares of GoDaddy in the fourth quarter valued at approximately $240,000. 90.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GDDY shares. Wells Fargo & Company began coverage on shares of GoDaddy in a report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 target price on the stock. Piper Sandler increased their price objective on GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Citigroup lifted their target price on GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Benchmark increased their price target on GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. raised their price objective on GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, GoDaddy currently has an average rating of “Moderate Buy” and a consensus target price of $213.20.

GoDaddy Stock Performance

NYSE:GDDY opened at $164.34 on Monday. The firm has a market capitalization of $23.23 billion, a P/E ratio of 25.48 and a beta of 1.25. GoDaddy Inc. has a twelve month low of $119.76 and a twelve month high of $216.00. The company has a fifty day moving average of $186.96 and a 200-day moving average of $185.26. 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 posted its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.01). The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. As a group, sell-side analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current year.

Insider Buying and Selling

In related news, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $103,850.00. Following the transaction, the director now owns 22,621 shares of the company’s stock, valued at approximately $4,698,381.70. This trade represents a 2.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total value of $989,175.00. Following the sale, the chief financial officer now directly owns 115,375 shares of the company’s stock, valued at $20,750,193.75. This represents a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,000 shares of company stock valued at $3,546,970. 0.61% of the stock is owned by company insiders.

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.