Axecap Investments LLC Acquires Shares of 12,635 GoDaddy Inc. (NYSE:GDDY)

Axecap Investments LLC acquired a new stake in GoDaddy Inc. (NYSE:GDDY) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 12,635 shares of the technology company’s stock, valued at approximately $1,981,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Private Advisor Group LLC acquired a new position in GoDaddy in the 3rd quarter valued at $343,000. Signaturefd LLC grew its holdings in shares of GoDaddy by 13.7% during the 3rd quarter. Signaturefd LLC now owns 2,819 shares of the technology company’s stock worth $442,000 after purchasing an additional 339 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of GoDaddy during the 3rd quarter worth $293,000. Western Financial Corp CA acquired a new stake in shares of GoDaddy during the 3rd quarter worth $977,000. Finally, Carolina Wealth Advisors LLC acquired a new stake in shares of GoDaddy during the 3rd quarter worth $49,000. 90.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GDDY shares. Robert W. Baird increased their target price on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. B. Riley increased their target price on GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Barclays increased their target price on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Piper Sandler restated a “neutral” rating and set a $172.00 price objective (up from $160.00) on shares of GoDaddy in a research report on Monday, September 23rd. Finally, Royal Bank of Canada upped their price objective on GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, GoDaddy presently has an average rating of “Moderate Buy” and an average price target of $166.54.

Insider Transactions at GoDaddy

In other news, CAO Nick Daddario sold 684 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total transaction of $107,545.32. Following the completion of the transaction, the chief accounting officer now directly owns 17,704 shares in the company, valued at $2,783,599.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Sigal Zarmi sold 400 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $157.61, for a total transaction of $63,044.00. Following the completion of the transaction, the director now directly owns 4,661 shares in the company, valued at $734,620.21. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Nick Daddario sold 684 shares of GoDaddy stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total value of $107,545.32. Following the completion of the sale, the chief accounting officer now owns 17,704 shares of the company’s stock, valued at approximately $2,783,599.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,744 shares of company stock worth $5,114,931 over the last ninety days. 0.61% of the stock is owned by insiders.

GoDaddy Price Performance

GoDaddy stock opened at $161.90 on Thursday. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13. The company has a market capitalization of $23.10 billion, a PE ratio of 13.45 and a beta of 1.12. GoDaddy Inc. has a 12 month low of $71.15 and a 12 month high of $167.65. The stock has a 50-day moving average price of $159.34 and a two-hundred day moving average price of $145.44.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.06). The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. GoDaddy’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.63 earnings per share. Analysts expect that GoDaddy Inc. will post 5.07 EPS for the current year.

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.