Y Intercept Hong Kong Ltd Makes New $1.67 Million Investment in GoDaddy Inc. (NYSE:GDDY)

Y Intercept Hong Kong Ltd purchased a new stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,627 shares of the technology company's stock, valued at approximately $1,666,000.

Several other hedge funds have also bought and sold shares of the stock. State Street Corp boosted its holdings in shares of GoDaddy by 2.2% in the third quarter. State Street Corp now owns 6,892,134 shares of the technology company's stock valued at $1,080,549,000 after purchasing an additional 147,105 shares during the period. FMR LLC raised its holdings in shares of GoDaddy by 19.8% during the third quarter. FMR LLC now owns 1,660,283 shares of the technology company's stock worth $260,299,000 after purchasing an additional 274,014 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of GoDaddy by 35.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company's stock worth $209,743,000 after purchasing an additional 394,399 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of GoDaddy by 17.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,368,693 shares of the technology company's stock worth $214,584,000 after acquiring an additional 203,909 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in GoDaddy by 37.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company's stock worth $120,305,000 after purchasing an additional 235,934 shares during the period. Hedge funds and other institutional investors own 90.28% of the company's stock.

Insiders Place Their Bets

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $155.60, for a total value of $466,800.00. Following the completion of the sale, the chief executive officer now owns 348,956 shares in the company, valued at $54,297,553.60. The trade was a 0.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Phontip Palitwanon sold 1,554 shares of the business's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $203.90, for a total value of $316,860.60. Following the completion of the transaction, the chief accounting officer now directly owns 21,505 shares of the company's stock, valued at approximately $4,384,869.50. This trade represents a 6.74 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,503 shares of company stock worth $4,102,853. Company insiders own 0.61% of the company's stock.

GoDaddy Stock Up 1.7 %

NYSE GDDY traded up $3.52 during trading on Wednesday, reaching $208.37. The company's stock had a trading volume of 1,254,909 shares, compared to its average volume of 1,465,531. The business has a 50-day moving average price of $178.53 and a 200-day moving average price of $159.48. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. GoDaddy Inc. has a 1-year low of $99.90 and a 1-year high of $210.30. The stock has a market capitalization of $29.25 billion, a PE ratio of 16.10 and a beta of 1.15.

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. B. Riley lifted their target price on shares of GoDaddy from $170.00 to $190.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Royal Bank of Canada reiterated an "outperform" rating and issued a $230.00 price objective (up previously from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. StockNews.com cut GoDaddy from a "strong-buy" rating to a "buy" rating in a research note on Friday, November 8th. JPMorgan Chase & Co. raised their price target on GoDaddy from $175.00 to $224.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. Finally, Jefferies Financial Group boosted their target price on GoDaddy from $170.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $181.57.

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.