GoDaddy Inc. (NYSE:GDDY) Stake Raised by Brant Point Investment Management LLC

Brant Point Investment Management LLC lifted its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 26.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 44,363 shares of the technology company's stock after purchasing an additional 9,263 shares during the quarter. GoDaddy comprises approximately 1.1% of Brant Point Investment Management LLC's investment portfolio, making the stock its 7th biggest position. Brant Point Investment Management LLC's holdings in GoDaddy were worth $8,756,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. WCM Investment Management LLC boosted its stake in GoDaddy by 7,083.4% during the fourth quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company's stock worth $678,941,000 after buying an additional 3,356,678 shares during the period. Norges Bank purchased a new position in shares of GoDaddy during the 4th quarter worth approximately $356,038,000. Canada Pension Plan Investment Board increased its holdings in GoDaddy by 107.8% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company's stock valued at $273,582,000 after purchasing an additional 719,000 shares during the last quarter. Congress Asset Management Co. acquired a new stake in GoDaddy in the 4th quarter valued at approximately $111,923,000. Finally, Amundi raised its position in GoDaddy by 84.4% in the fourth quarter. Amundi now owns 931,874 shares of the technology company's stock valued at $183,710,000 after purchasing an additional 426,501 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.

GoDaddy Stock Performance

Shares of GoDaddy stock traded up $7.75 on Wednesday, hitting $177.94. The stock had a trading volume of 585,960 shares, compared to its average volume of 1,465,526. The stock has a market cap of $25.15 billion, a price-to-earnings ratio of 27.59 and a beta of 1.19. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. GoDaddy Inc. has a 52-week low of $120.59 and a 52-week high of $216.00. The company's 50 day moving average price is $175.43 and its 200 day moving average price is $186.10.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its earnings results on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing analysts' consensus estimates of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. On average, research analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current year.

Wall Street Analyst Weigh In

GDDY has been the subject of a number of research reports. StockNews.com cut GoDaddy from a "buy" rating to a "hold" rating in a research note on Monday, February 17th. Barclays increased their price target on shares of GoDaddy from $235.00 to $243.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Raymond James upped their price objective on GoDaddy from $185.00 to $230.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. boosted their target price on GoDaddy from $224.00 to $231.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Finally, Benchmark increased their price target on GoDaddy from $200.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, GoDaddy has a consensus rating of "Moderate Buy" and a consensus target price of $210.73.

Insider Buying and Selling

In other news, CFO Mark Mccaffrey sold 5,500 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total transaction of $989,175.00. Following the transaction, the chief financial officer now directly owns 115,375 shares in the company, valued at $20,750,193.75. The trade was a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Roger Chen sold 1,000 shares of the firm's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $171.75, for a total transaction of $171,750.00. Following the completion of the sale, the chief operating officer now owns 256,949 shares of the company's stock, valued at approximately $44,130,990.75. The trade was a 0.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,000 shares of company stock valued at $3,518,150 over the last quarter. 0.61% of the stock is currently owned by insiders.

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.