Renaissance Technologies LLC Sells 74,300 Shares of GoDaddy Inc. (NYSE:GDDY)

Renaissance Technologies LLC decreased its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 10.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 661,000 shares of the technology company's stock after selling 74,300 shares during the period. Renaissance Technologies LLC owned approximately 0.47% of GoDaddy worth $130,462,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FIL Ltd bought a new stake in shares of GoDaddy during the 4th quarter valued at about $5,920,000. Rathbones Group PLC lifted its position in GoDaddy by 1.2% during the fourth quarter. Rathbones Group PLC now owns 32,367 shares of the technology company's stock valued at $6,388,000 after purchasing an additional 382 shares during the last quarter. Invesco Ltd. grew its stake in GoDaddy by 11.6% in the 4th quarter. Invesco Ltd. now owns 2,913,930 shares of the technology company's stock worth $575,122,000 after buying an additional 304,033 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in GoDaddy by 31.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 616,486 shares of the technology company's stock worth $121,676,000 after buying an additional 147,511 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC bought a new position in shares of GoDaddy in the 4th quarter worth $1,202,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GDDY has been the subject of several research reports. Benchmark upped their target price on shares of GoDaddy from $200.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Jefferies Financial Group cut their price objective on GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a report on Monday, April 7th. Wells Fargo & Company began coverage on GoDaddy in a report on Monday, February 3rd. They set an "equal weight" rating and a $198.00 price objective on the stock. Raymond James upped their target price on GoDaddy from $185.00 to $230.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, January 21st. Finally, B. Riley lifted their price target on shares of GoDaddy from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $212.20.

Remove Ads

Insiders Place Their Bets

In other news, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total transaction of $989,175.00. Following the sale, the chief financial officer now owns 115,375 shares in the company, valued at $20,750,193.75. This represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Brian Sharples sold 500 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction of $103,850.00. Following the completion of the transaction, the director now owns 22,621 shares of the company's stock, valued at approximately $4,698,381.70. The trade was a 2.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,000 shares of company stock worth $3,546,970. 0.61% of the stock is owned by corporate insiders.

GoDaddy Trading Up 0.2 %

Shares of GDDY traded up $0.32 during mid-day trading on Monday, hitting $172.32. 491,650 shares of the company's stock traded hands, compared to its average volume of 1,552,859. The business's 50-day moving average price is $180.85 and its 200-day moving average price is $185.53. GoDaddy Inc. has a 1 year low of $119.76 and a 1 year high of $216.00. The firm has a market capitalization of $24.36 billion, a P/E ratio of 26.72 and a beta of 1.19. 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 - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share (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 company had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.18 billion. As a group, sell-side analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

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.