Forum Financial Management LP Invests $253,000 in GoDaddy Inc. (NYSE:GDDY)

Forum Financial Management LP acquired a new stake in shares of GoDaddy Inc. (NYSE:GDDY) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,810 shares of the technology company’s stock, valued at approximately $253,000.

Other hedge funds also recently modified their holdings of the company. Whittier Trust Co. raised its position in shares of GoDaddy by 4.3% during the second quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock worth $249,000 after purchasing an additional 74 shares during the period. Gulf International Bank UK Ltd increased its position in GoDaddy by 0.9% during the first quarter. Gulf International Bank UK Ltd now owns 12,030 shares of the technology company’s stock worth $1,427,000 after acquiring an additional 113 shares during the period. Sivia Capital Partners LLC raised its position in shares of GoDaddy by 3.9% during the first quarter. Sivia Capital Partners LLC now owns 3,023 shares of the technology company’s stock valued at $359,000 after buying an additional 113 shares during the last quarter. GAMMA Investing LLC raised its holdings in GoDaddy by 102.3% in the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after acquiring an additional 133 shares in the last quarter. Finally, Signaturefd LLC lifted its position in GoDaddy by 6.3% in the second quarter. Signaturefd LLC now owns 2,480 shares of the technology company’s stock worth $346,000 after purchasing an additional 148 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Stock Performance

Shares of NYSE:GDDY opened at $167.41 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 9.15. The stock has a market capitalization of $23.89 billion, a P/E ratio of 13.90 and a beta of 1.14. The business has a 50-day moving average price of $150.52 and a two-hundred day moving average price of $134.38. GoDaddy Inc. has a 1-year low of $71.15 and a 1-year high of $167.65.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 363.95%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.63 EPS. Equities analysts predict that GoDaddy Inc. will post 4.81 earnings per share for the current year.

Insider Transactions at GoDaddy

In other GoDaddy news, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $138.84, for a total transaction of $555,360.00. Following the transaction, the chief operating officer now directly owns 196,632 shares in the company, valued at $27,300,386.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $138.84, for a total transaction of $555,360.00. Following the sale, the chief operating officer now owns 196,632 shares of the company’s stock, valued at $27,300,386.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Amanpal Singh Bhutani sold 7,600 shares of GoDaddy stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $138.92, for a total value of $1,055,792.00. Following the transaction, the chief executive officer now owns 369,898 shares in the company, valued at approximately $51,386,230.16. The disclosure for this sale can be found here. Insiders have sold a total of 51,913 shares of company stock valued at $7,416,831 over the last three months. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on GDDY. Benchmark raised 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. JPMorgan Chase & Co. boosted their target price on GoDaddy from $136.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, May 29th. Barclays raised their price target on GoDaddy from $150.00 to $165.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Royal Bank of Canada boosted their price objective on GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Finally, Piper Sandler raised their target price on GoDaddy from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, GoDaddy presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.58.

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.