Park Place Capital Corp Cuts Holdings in GoDaddy Inc. (NYSE:GDDY)

Park Place Capital Corp cut its holdings in GoDaddy Inc. (NYSE:GDDY) by 16.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 338 shares of the technology company’s stock after selling 65 shares during the quarter. Park Place Capital Corp’s holdings in GoDaddy were worth $53,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Icon Wealth Advisors LLC purchased a new stake in GoDaddy during the fourth quarter worth about $551,000. Caxton Associates LP purchased a new stake in shares of GoDaddy during the 4th quarter worth approximately $2,029,000. Gillson Capital LP boosted its stake in shares of GoDaddy by 88.8% during the 4th quarter. Gillson Capital LP now owns 134,823 shares of the technology company’s stock worth $14,313,000 after acquiring an additional 63,421 shares in the last quarter. Prelude Capital Management LLC increased its stake in GoDaddy by 10.5% in the 4th quarter. Prelude Capital Management LLC now owns 30,417 shares of the technology company’s stock valued at $3,229,000 after purchasing an additional 2,888 shares in the last quarter. Finally, Ophir Asset Management Pty Ltd acquired a new position in GoDaddy during the fourth quarter worth $24,779,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Activity

In related news, Director Sigal Zarmi sold 400 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $157.61, for a total value of $63,044.00. Following the transaction, the director now directly owns 4,661 shares of the company’s stock, valued at approximately $734,620.21. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $146.48, for a total transaction of $439,440.00. Following the completion of the sale, the chief executive officer now directly owns 362,398 shares in the company, valued at $53,084,059.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sigal Zarmi sold 400 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were 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 approximately $734,620.21. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,744 shares of company stock valued at $4,950,771 in the last ninety days. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Cantor Fitzgerald reissued a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a research note on Monday. B. Riley upped their target price on GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Raymond James increased 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. Finally, Robert W. Baird boosted their price target on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $166.54.

GoDaddy Stock Up 0.7 %

Shares of NYSE:GDDY opened at $161.27 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 firm has a market cap of $23.01 billion, a price-to-earnings ratio of 13.39 and a beta of 1.12. The stock’s 50-day moving average price is $157.41 and its two-hundred day moving average price is $142.53. GoDaddy Inc. has a 12-month low of $71.15 and a 12-month high of $167.65.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.06). GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the business posted $0.63 earnings per share. GoDaddy’s revenue was up 7.3% on a year-over-year basis. On average, research analysts forecast that GoDaddy Inc. will post 5.06 EPS 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.