Two Sigma Advisers LP Lowers Holdings in GoDaddy Inc. (NYSE:GDDY)

Two Sigma Advisers LP cut its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 79.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 68,500 shares of the technology company's stock after selling 258,900 shares during the period. Two Sigma Advisers LP's holdings in GoDaddy were worth $10,739,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC purchased a new stake in shares of GoDaddy during the third quarter worth $27,000. Transcendent Capital Group LLC purchased a new stake in shares of GoDaddy during the second quarter worth $28,000. ORG Wealth Partners LLC purchased a new stake in shares of GoDaddy during the third quarter worth $30,000. ORG Partners LLC purchased a new stake in shares of GoDaddy during the second quarter worth $32,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of GoDaddy during the second quarter worth $36,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Stock Up 0.7 %

Shares of GDDY traded up $1.46 during mid-day trading on Tuesday, hitting $204.85. 1,325,881 shares of the company's stock were exchanged, compared to its average volume of 1,465,845. The company has a market cap of $28.76 billion, a price-to-earnings ratio of 15.89 and a beta of 1.15. GoDaddy Inc. has a fifty-two week low of $99.90 and a fifty-two week high of $210.30. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The stock's 50-day moving average is $176.43 and its 200-day moving average is $158.68.

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

Analysts Set New Price Targets

GDDY has been the subject of a number of analyst reports. B. Riley upped their price objective on shares of GoDaddy from $170.00 to $190.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Jefferies Financial Group upped their price objective on shares of GoDaddy from $170.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. upped their price objective on shares of GoDaddy from $175.00 to $224.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. StockNews.com lowered shares of GoDaddy from a "strong-buy" rating to a "buy" rating in a report on Friday, November 8th. Finally, Benchmark upped their price objective on shares of GoDaddy from $186.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, GoDaddy has an average rating of "Moderate Buy" and a consensus price target of $181.57.

Insider Activity at GoDaddy

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $152.17, for a total value of $152,170.00. Following the transaction, the chief operating officer now directly owns 187,632 shares in the company, valued at $28,551,961.44. This represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Phontip Palitwanon sold 770 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total transaction of $151,412.80. Following the completion of the transaction, the chief accounting officer now owns 23,059 shares in the company, valued at $4,534,321.76. This represents a 3.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,949 shares of company stock valued at $3,785,993 over the last 90 days. 0.61% of the stock is owned by corporate insiders.

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.