Maverick Capital Ltd. Buys 246 Shares of GoDaddy Inc. (NYSE:GDDY)

Maverick Capital Ltd. raised its position in shares of GoDaddy Inc. (NYSE:GDDY) by 2.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,358 shares of the technology company’s stock after buying an additional 246 shares during the quarter. Maverick Capital Ltd.’s holdings in GoDaddy were worth $1,467,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in shares of GoDaddy in the 3rd quarter worth $27,000. Transcendent Capital Group LLC purchased a new position in shares of GoDaddy in the second quarter worth $28,000. ORG Wealth Partners LLC purchased a new position in GoDaddy in the 3rd quarter worth $30,000. ORG Partners LLC purchased a new stake in GoDaddy during the 2nd quarter valued at about $32,000. Finally, International Assets Investment Management LLC purchased a new position in shares of GoDaddy in the second quarter worth about $36,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insider Transactions at GoDaddy

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total transaction of $855,800.00. Following the transaction, the chief financial officer now directly owns 93,102 shares in the company, valued at $14,486,671.20. This represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Friday, November 15th. The shares were sold at an average price of $183.80, for a total value of $183,800.00. Following the completion of the sale, the chief operating officer now directly owns 185,632 shares of the company’s stock, valued at $34,119,161.60. The trade was a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,345 shares of company stock worth $3,897,255. 0.61% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Robert W. Baird upped their price objective on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Cantor Fitzgerald reissued a “neutral” rating and issued a $170.00 price objective on shares of GoDaddy in a report on Monday, October 7th. Benchmark upped their target price on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Finally, B. Riley raised their price objective on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $173.31.

GoDaddy Price Performance

GoDaddy stock opened at $197.57 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The company has a 50-day moving average price of $170.85 and a 200 day moving average price of $155.74. GoDaddy Inc. has a 12-month low of $98.13 and a 12-month high of $202.56. The stock has a market cap of $27.74 billion, a P/E ratio of 15.27 and a beta of 1.11.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The firm had revenue of $1.15 billion for 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%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.89 earnings per share. Sell-side analysts anticipate that GoDaddy Inc. will post 4.95 earnings per share for the current year.

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.