Aquatic Capital Management LLC Takes Position in GoDaddy Inc. $GDDY

Aquatic Capital Management LLC acquired a new stake in GoDaddy Inc. (NYSE:GDDY) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 32,749 shares of the technology company’s stock, valued at approximately $4,481,000.

Other large investors have also bought and sold shares of the company. Hemington Wealth Management boosted its holdings in shares of GoDaddy by 85.9% in the third quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock valued at $25,000 after buying an additional 85 shares during the period. Root Financial Partners LLC bought a new stake in shares of GoDaddy during the third quarter worth $31,000. Brown Brothers Harriman & Co. raised its holdings in shares of GoDaddy by 145.6% during the third quarter. Brown Brothers Harriman & Co. now owns 253 shares of the technology company’s stock worth $35,000 after acquiring an additional 150 shares during the period. Rossby Financial LCC lifted its position in GoDaddy by 125.4% in the 3rd quarter. Rossby Financial LCC now owns 284 shares of the technology company’s stock valued at $38,000 after acquiring an additional 158 shares in the last quarter. Finally, Bayforest Capital Ltd lifted its position in GoDaddy by 141.5% in the 3rd quarter. Bayforest Capital Ltd now owns 355 shares of the technology company’s stock valued at $49,000 after acquiring an additional 208 shares in the last quarter. 90.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Raymond James Financial reissued a “strong-buy” rating and issued a $100.00 price target on shares of GoDaddy in a research note on Wednesday, February 25th. Jefferies Financial Group reduced their price objective on GoDaddy from $140.00 to $100.00 and set a “hold” rating for the company in a research report on Monday, February 23rd. Piper Sandler started coverage on GoDaddy in a report on Thursday, March 12th. They set a “neutral” rating and a $93.00 price objective for the company. Evercore set a $95.00 target price on GoDaddy in a research report on Wednesday, February 25th. Finally, Benchmark cut their target price on GoDaddy from $240.00 to $210.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, GoDaddy has a consensus rating of “Moderate Buy” and a consensus price target of $125.57.

GoDaddy Trading Up 1.2%

GoDaddy stock opened at $82.16 on Tuesday. The firm has a 50-day moving average of $96.73 and a 200-day moving average of $120.16. GoDaddy Inc. has a one year low of $73.06 and a one year high of $193.55. The company has a debt-to-equity ratio of 17.50, a current ratio of 0.61 and a quick ratio of 0.61. The company has a market cap of $10.96 billion, a price-to-earnings ratio of 13.19, a P/E/G ratio of 0.72 and a beta of 0.96.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Tuesday, February 24th. The technology company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.22. GoDaddy had a return on equity of 369.00% and a net margin of 17.67%.The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter last year, the company earned $1.36 EPS. GoDaddy’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, equities analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Amanpal Singh Bhutani sold 34,148 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $88.99, for a total transaction of $3,038,830.52. Following the sale, the chief executive officer owned 530,120 shares in the company, valued at $47,175,378.80. This represents a 6.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Phontip Palitwanon sold 1,310 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $90.15, for a total value of $118,096.50. Following the completion of the sale, the chief accounting officer directly owned 20,349 shares of the company’s stock, valued at approximately $1,834,462.35. The trade was a 6.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 61,918 shares of company stock worth $5,500,469 over the last 90 days. Company insiders own 0.70% of the company’s stock.

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.