Xponance Inc. Purchases 692 Shares of GoDaddy Inc. (NYSE:GDDY)

Xponance Inc. grew its position in GoDaddy Inc. (NYSE:GDDY) by 2.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,594 shares of the technology company’s stock after purchasing an additional 692 shares during the quarter. Xponance Inc.’s holdings in GoDaddy were worth $4,414,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Corient Private Wealth LLC grew its stake in GoDaddy by 70.1% during the fourth quarter. Corient Private Wealth LLC now owns 5,190 shares of the technology company’s stock worth $551,000 after purchasing an additional 2,138 shares during the period. Franklin Resources Inc. grew its position in shares of GoDaddy by 58.1% during the 4th quarter. Franklin Resources Inc. now owns 23,605 shares of the technology company’s stock worth $2,506,000 after buying an additional 8,675 shares during the period. US Bancorp DE grew its position in shares of GoDaddy by 1.4% during the 4th quarter. US Bancorp DE now owns 35,799 shares of the technology company’s stock worth $3,800,000 after buying an additional 507 shares during the period. Orion Portfolio Solutions LLC increased its stake in shares of GoDaddy by 1.3% in the 4th quarter. Orion Portfolio Solutions LLC now owns 20,419 shares of the technology company’s stock valued at $2,082,000 after acquiring an additional 267 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of GoDaddy during the 4th quarter valued at $497,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Stock Performance

NYSE GDDY opened at $158.85 on Thursday. The company has a fifty day moving average price of $155.08 and a 200-day moving average price of $139.87. The firm has a market cap of $22.39 billion, a price-to-earnings ratio of 13.19 and a beta of 1.13. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48. GoDaddy Inc. has a 1 year low of $71.15 and a 1 year high of $167.65.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data 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). GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the company posted $0.63 earnings per share. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, equities research analysts predict that GoDaddy Inc. will post 5.06 EPS for the current fiscal year.

Insider Activity at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 4,500 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $139.79, for a total value of $629,055.00. Following the transaction, the chief executive officer now owns 365,398 shares of the company’s stock, valued at $51,078,986.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $152.17, for a total transaction of $152,170.00. Following the completion of the sale, the chief operating officer now owns 187,632 shares in the company, valued at approximately $28,551,961.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Amanpal Singh Bhutani sold 4,500 shares of GoDaddy stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $139.79, for a total transaction of $629,055.00. Following the completion of the sale, the chief executive officer now directly owns 365,398 shares in the company, valued at approximately $51,078,986.42. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,744 shares of company stock valued at $4,816,386. 0.61% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GDDY shares. Benchmark raised their price target on shares of GoDaddy from $170.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, August 26th. B. Riley raised 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. Barclays upped their price target on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday. Piper Sandler reissued a “neutral” rating and issued a $172.00 price objective (up previously from $160.00) on shares of GoDaddy in a research note on Monday. Finally, Raymond James boosted their price objective on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $166.54.

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.