E Fund Management Co. Ltd. Makes New Investment in GoDaddy Inc. (NYSE:GDDY)

E Fund Management Co. Ltd. purchased a new stake in GoDaddy Inc. (NYSE:GDDY) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,633 shares of the technology company’s stock, valued at approximately $228,000.

Other hedge funds have also recently modified their holdings of the company. Citizens Financial Group Inc. RI purchased a new stake in GoDaddy during the second quarter valued at about $208,000. Renaissance Technologies LLC boosted its holdings in shares of GoDaddy by 6.4% in the second quarter. Renaissance Technologies LLC now owns 411,598 shares of the technology company’s stock worth $57,504,000 after acquiring an additional 24,698 shares during the period. Dimensional Fund Advisors LP grew its position in shares of GoDaddy by 37.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock valued at $120,305,000 after purchasing an additional 235,934 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of GoDaddy by 20.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 37,661 shares of the technology company’s stock worth $5,262,000 after purchasing an additional 6,313 shares during the period. Finally, WINTON GROUP Ltd raised its position in shares of GoDaddy by 320.0% in the second quarter. WINTON GROUP Ltd now owns 7,123 shares of the technology company’s stock worth $995,000 after buying an additional 5,427 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on GDDY. Piper Sandler boosted their price target on shares of GoDaddy from $145.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Cantor Fitzgerald initiated coverage on shares of GoDaddy in a research note on Thursday, September 5th. They set a “neutral” rating and a $170.00 target price on the stock. Raymond James increased their price target on shares of GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Finally, Benchmark increased their target price on GoDaddy from $170.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $164.08.

GoDaddy Trading Up 3.8 %

GoDaddy stock opened at $160.18 on Friday. GoDaddy Inc. has a 12 month low of $71.15 and a 12 month high of $167.65. The company has a market capitalization of $22.86 billion, a price-to-earnings ratio of 13.30 and a beta of 1.13. The business’s fifty day simple moving average is $154.05 and its two-hundred day simple moving average is $138.35. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.63 EPS. As a group, equities analysts predict that GoDaddy Inc. will post 5.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other GoDaddy news, CAO Nick Daddario sold 684 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total transaction of $107,545.32. Following the sale, the chief accounting officer now directly owns 17,704 shares in the company, valued at approximately $2,783,599.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Sigal Zarmi sold 400 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $734,620.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Nick Daddario sold 684 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total transaction of $107,545.32. Following the completion of the sale, the chief accounting officer now owns 17,704 shares in the company, valued at approximately $2,783,599.92. The disclosure for this sale can be found here. Insiders sold a total of 31,744 shares of company stock worth $4,816,386 in the last three months. Insiders own 0.61% of the company’s stock.

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.