Soros Capital Management LLC Has $3.57 Million Position in GoDaddy Inc. (NYSE:GDDY)

Soros Capital Management LLC lowered its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 24.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 22,762 shares of the technology company’s stock after selling 7,533 shares during the quarter. GoDaddy accounts for about 0.9% of Soros Capital Management LLC’s investment portfolio, making the stock its 29th largest holding. Soros Capital Management LLC’s holdings in GoDaddy were worth $3,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its position in GoDaddy by 68.0% during the third quarter. BNP Paribas Financial Markets now owns 355,260 shares of the technology company’s stock worth $55,698,000 after buying an additional 143,809 shares in the last quarter. Avestar Capital LLC grew its position in GoDaddy by 13.4% during the third quarter. Avestar Capital LLC now owns 2,110 shares of the technology company’s stock worth $331,000 after buying an additional 249 shares in the last quarter. Brooklyn Investment Group acquired a new stake in GoDaddy during the third quarter worth approximately $106,000. Quantbot Technologies LP acquired a new stake in shares of GoDaddy in the 3rd quarter valued at $4,395,000. Finally, FMR LLC boosted its holdings in shares of GoDaddy by 19.8% in the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock valued at $260,299,000 after purchasing an additional 274,014 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Buying and Selling

In other news, CAO Nick Daddario sold 2,976 shares of GoDaddy stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $151.61, for a total value of $451,191.36. Following the completion of the transaction, the chief accounting officer now directly owns 14,728 shares of the company’s stock, valued at approximately $2,232,912.08. This trade represents a 16.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $166.91, for a total value 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. This trade represents a 0.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,345 shares of company stock valued at $3,897,255 in the last three months. Insiders own 0.61% of the company’s stock.

GoDaddy Stock Up 1.2 %

Shares of NYSE:GDDY opened at $199.73 on Wednesday. The firm has a market cap of $28.04 billion, a P/E ratio of 15.44 and a beta of 1.11. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. GoDaddy Inc. has a 12-month low of $94.50 and a 12-month high of $202.56. The business has a fifty day simple moving average of $168.48 and a 200 day simple moving average of $154.54.

GoDaddy (NYSE:GDDY) last announced its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. GoDaddy’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the company earned $0.89 EPS. Analysts predict that GoDaddy Inc. will post 4.95 earnings per share for the current year.

Analyst Upgrades and Downgrades

GDDY has been the topic of a number of research analyst reports. Raymond James raised their target price on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Piper Sandler raised their target price on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Robert W. Baird raised their target price on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Royal Bank of Canada raised their target price on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.31.

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.