1832 Asset Management L.P. Purchases New Position in GoDaddy Inc. $GDDY

1832 Asset Management L.P. bought a new stake in shares of GoDaddy Inc. (NYSE:GDDY) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 13,166 shares of the technology company’s stock, valued at approximately $2,371,000.

Several other large investors have also modified their holdings of the business. Bayforest Capital Ltd bought a new position in shares of GoDaddy in the second quarter worth about $26,000. NewSquare Capital LLC raised its stake in shares of GoDaddy by 170.9% during 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. Zions Bancorporation National Association UT acquired a new stake in GoDaddy in the first quarter valued at approximately $30,000. Banque Transatlantique SA purchased a new position in GoDaddy during the 1st quarter worth $36,000. Finally, Steph & Co. acquired a new stake in GoDaddy in the second quarter worth about $55,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GDDY. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $150.00 target price on shares of GoDaddy in a report on Friday, October 31st. Morgan Stanley set a $159.00 price objective on shares of GoDaddy in a research report on Friday, October 31st. Raymond James Financial reaffirmed a “strong-buy” rating on shares of GoDaddy in a research note on Friday, October 31st. Citigroup dropped their price objective on shares of GoDaddy from $214.00 to $195.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of GoDaddy in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.14.

Insider Transactions at GoDaddy

In other GoDaddy news, CAO Phontip Palitwanon sold 969 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total value of $123,973.86. Following the sale, the chief accounting officer directly owned 19,452 shares in the company, valued at $2,488,688.88. This trade represents a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $145.71, for a total value of $145,710.00. Following the sale, the chief operating officer owned 251,949 shares of the company’s stock, valued at approximately $36,711,488.79. The trade was a 0.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,218 shares of company stock valued at $2,615,781 over the last ninety days. Company insiders own 0.70% of the company’s stock.

GoDaddy Trading Down 1.4%

NYSE GDDY opened at $128.43 on Friday. The firm has a market cap of $17.36 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 1.43 and a beta of 0.95. The firm has a 50 day simple moving average of $130.85 and a 200-day simple moving average of $151.37. GoDaddy Inc. has a one year low of $121.94 and a one year high of $216.00. The company has a debt-to-equity ratio of 41.06, a quick ratio of 0.57 and a current ratio of 0.57.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, October 30th. The technology company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.50 by $0.01. GoDaddy had a return on equity of 231.34% and a net margin of 17.01%.The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the previous year, the firm posted $1.32 EPS. GoDaddy’s revenue for the quarter was up 10.3% on a year-over-year basis. Equities research analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

About GoDaddy

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.