Caprock Group LLC Makes New Investment in GoDaddy Inc. (NYSE:GDDY)

Caprock Group LLC purchased a new position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,229 shares of the technology company's stock, valued at approximately $1,760,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GDDY. Covestor Ltd boosted its stake in GoDaddy by 351.6% in the first quarter. Covestor Ltd now owns 718 shares of the technology company's stock valued at $85,000 after acquiring an additional 559 shares during the last quarter. UniSuper Management Pty Ltd boosted its stake in GoDaddy by 72.7% in the first quarter. UniSuper Management Pty Ltd now owns 1,900 shares of the technology company's stock valued at $225,000 after acquiring an additional 800 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in GoDaddy by 20.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company's stock valued at $25,469,000 after acquiring an additional 35,703 shares during the last quarter. Sheaff Brock Investment Advisors LLC purchased a new position in GoDaddy in the first quarter valued at about $368,000. Finally, Brant Point Investment Management LLC raised its position in shares of GoDaddy by 321.2% in the first quarter. Brant Point Investment Management LLC now owns 86,773 shares of the technology company's stock valued at $10,298,000 after purchasing an additional 66,173 shares during the period. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Barclays boosted their price target on shares of GoDaddy from $165.00 to $185.00 and gave the company an "overweight" rating in a research report on Wednesday, September 25th. Cantor Fitzgerald reissued a "neutral" rating and issued a $170.00 price target on shares of GoDaddy in a research report on Monday, October 7th. Royal Bank of Canada boosted their price target on shares of GoDaddy from $175.00 to $190.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. B. Riley boosted their price target on shares of GoDaddy from $170.00 to $190.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Finally, Piper Sandler upped their target price on shares of GoDaddy from $172.00 to $176.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Five 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 stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $173.31.

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $190.11 on Thursday. The company's fifty day moving average price is $164.16 and its 200-day moving average price is $152.29. The firm has a market capitalization of $26.69 billion, a price-to-earnings ratio of 14.69 and a beta of 1.11. GoDaddy Inc. has a one year low of $92.45 and a one year high of $190.54. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56.

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

Insider Activity

In other news, Director Brian Sharples sold 500 shares of the company's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $179.00, for a total value of $89,500.00. Following the completion of the sale, the director now owns 24,121 shares of the company's stock, valued at approximately $4,317,659. This represents a 2.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $152.17, for a total transaction of $152,170.00. Following the sale, the chief operating officer now directly owns 187,632 shares of the company's stock, valued at $28,551,961.44. The trade was a 0.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,845 shares of company stock valued at $4,803,380. Corporate insiders own 0.61% of the company's stock.

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.