Glaxis Capital Management LLC Makes New $706,000 Investment in GoDaddy Inc. (NYSE:GDDY)

Glaxis Capital Management LLC acquired a new stake in GoDaddy Inc. (NYSE:GDDY) during the third quarter, HoldingsChannel reports. The firm acquired 4,500 shares of the technology company’s stock, valued at approximately $706,000. GoDaddy accounts for 2.7% of Glaxis Capital Management LLC’s holdings, making the stock its 12th largest position.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Covestor Ltd raised its position in GoDaddy by 351.6% during the 1st quarter. Covestor Ltd now owns 718 shares of the technology company’s stock worth $85,000 after buying an additional 559 shares during the last quarter. UniSuper Management Pty Ltd raised its holdings in GoDaddy by 72.7% during the first quarter. UniSuper Management Pty Ltd now owns 1,900 shares of the technology company’s stock worth $225,000 after purchasing an additional 800 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in GoDaddy by 20.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock valued at $25,469,000 after purchasing an additional 35,703 shares during the period. Natixis Investment Managers International raised its stake in shares of GoDaddy by 17.8% during the 1st quarter. Natixis Investment Managers International now owns 1,289 shares of the technology company’s stock worth $153,000 after buying an additional 195 shares in the last quarter. Finally, Shell Asset Management Co. lifted its holdings in shares of GoDaddy by 30.0% in the 1st quarter. Shell Asset Management Co. now owns 19,830 shares of the technology company’s stock valued at $2,353,000 after buying an additional 4,579 shares during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $188.37 on Wednesday. GoDaddy Inc. has a one year low of $92.45 and a one year high of $190.21. The stock has a market cap of $26.45 billion, a PE ratio of 14.49 and a beta of 1.11. The business’s fifty day moving average price is $164.16 and its two-hundred day moving average price is $152.29. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the business posted $0.89 EPS. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, analysts forecast that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction on Monday, November 11th. The shares were sold at an average price of $179.00, for a total transaction of $89,500.00. Following the sale, the director now owns 24,121 shares of the company’s stock, valued at $4,317,659. The trade was a 2.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total transaction of $500,730.00. Following the completion of the transaction, the chief executive officer now directly owns 358,773 shares of the company’s stock, valued at approximately $59,882,801.43. The trade was a 0.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 29,845 shares of company stock valued at $4,803,380. Company insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

GDDY has been the topic of a number of recent analyst reports. Barclays upped their price objective on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $170.00 price target on shares of GoDaddy in a report on Monday, October 7th. Benchmark boosted their price objective on shares of GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Raymond James increased their target price on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Finally, StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $173.31.

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.