Lecap Asset Management Ltd. Has $2.47 Million Stock Holdings in GoDaddy Inc. $GDDY

Lecap Asset Management Ltd. increased its stake in GoDaddy Inc. (NYSE:GDDY) by 1,075.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,048 shares of the technology company’s stock after purchasing an additional 16,512 shares during the quarter. GoDaddy makes up 0.9% of Lecap Asset Management Ltd.’s investment portfolio, making the stock its 18th largest holding. Lecap Asset Management Ltd.’s holdings in GoDaddy were worth $2,470,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bayforest Capital Ltd acquired a new stake in GoDaddy during the 2nd quarter valued at $26,000. NewSquare Capital LLC lifted its stake in GoDaddy by 170.9% in the 2nd quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock worth $27,000 after acquiring an additional 94 shares in the last quarter. Steph & Co. acquired a new stake in GoDaddy during the 2nd quarter worth about $55,000. Mather Group LLC. purchased a new position in GoDaddy during the 3rd quarter valued at about $61,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of GoDaddy by 252.0% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 345 shares of the technology company’s stock worth $62,000 after purchasing an additional 247 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other GoDaddy news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $133.11, for a total value of $66,555.00. Following the transaction, the director directly owned 19,957 shares of the company’s stock, valued at $2,656,476.27. The trade was a 2.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mark Mccaffrey sold 3,317 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total value of $424,376.98. Following the transaction, the chief financial officer owned 66,816 shares of the company’s stock, valued at approximately $8,548,439.04. This trade represents a 4.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 14,115 shares of company stock worth $1,809,657. Corporate insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on GDDY shares. Citigroup dropped their price objective on shares of GoDaddy from $214.00 to $195.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Royal Bank Of Canada set a $70.00 price target on shares of GoDaddy in a research note on Wednesday. Evercore ISI reduced their price objective on GoDaddy from $180.00 to $145.00 and set an “in-line” rating for the company in a research report on Friday, October 31st. JPMorgan Chase & Co. dropped their target price on GoDaddy from $222.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Finally, UBS Group reduced their price target on GoDaddy from $160.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $168.64.

GoDaddy Price Performance

Shares of GoDaddy stock opened at $117.52 on Thursday. The stock has a market capitalization of $15.88 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 1.09 and a beta of 0.95. GoDaddy Inc. has a 1-year low of $117.19 and a 1-year high of $216.00. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 41.06. The firm has a fifty day simple moving average of $127.18 and a 200-day simple moving average of $142.52.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, October 30th. The technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.23 billion. GoDaddy had a net margin of 17.01% and a return on equity of 231.34%. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.32 earnings per share. On average, sell-side analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

About GoDaddy

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.