GoDaddy Inc. $GDDY Shares Sold by Entropy Technologies LP

Entropy Technologies LP cut its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 53.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,572 shares of the technology company’s stock after selling 23,423 shares during the quarter. Entropy Technologies LP’s holdings in GoDaddy were worth $1,701,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GDDY. Norges Bank bought a new position in GoDaddy during the 4th quarter worth approximately $250,020,000. AQR Capital Management LLC raised its position in shares of GoDaddy by 117.5% during the 4th quarter. AQR Capital Management LLC now owns 2,989,931 shares of the technology company’s stock worth $370,991,000 after purchasing an additional 1,615,005 shares during the period. Two Sigma Investments LP raised its position in shares of GoDaddy by 99.7% during the 3rd quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company’s stock worth $223,183,000 after purchasing an additional 814,360 shares during the period. Swedbank AB lifted its holdings in shares of GoDaddy by 433.9% in the 4th quarter. Swedbank AB now owns 645,754 shares of the technology company’s stock worth $80,125,000 after purchasing an additional 524,811 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in GoDaddy by 67.0% during the 4th quarter. Pacer Advisors Inc. now owns 1,256,998 shares of the technology company’s stock valued at $155,968,000 after purchasing an additional 504,374 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on GDDY. Weiss Ratings restated a “hold (c-)” rating on shares of GoDaddy in a research report on Tuesday, June 16th. UBS Group assumed coverage on GoDaddy in a report on Tuesday, May 5th. They issued a “neutral” rating and a $100.00 price objective for the company. Wells Fargo & Company lifted their price target on shares of GoDaddy from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Benchmark lowered their price objective on shares of GoDaddy from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of GoDaddy from $154.00 to $124.00 and set an “overweight” rating on the stock in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, GoDaddy has a consensus rating of “Moderate Buy” and an average target price of $118.43.

Insider Activity

In other news, CAO Phontip Palitwanon sold 542 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total transaction of $48,704.12. Following the completion of the sale, the chief accounting officer owned 19,995 shares of the company’s stock, valued at approximately $1,796,750.70. This trade represents a 2.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Amanpal Singh Bhutani sold 8,373 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total value of $752,397.78. Following the completion of the sale, the chief executive officer owned 521,747 shares of the company’s stock, valued at approximately $46,884,185.42. This trade represents a 1.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 16,751 shares of company stock valued at $1,480,228. Company insiders own 0.93% of the company’s stock.

GoDaddy Trading Up 3.5%

Shares of GDDY stock opened at $96.45 on Tuesday. The firm’s fifty day simple moving average is $86.13 and its 200 day simple moving average is $89.10. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 15.86. GoDaddy Inc. has a 1 year low of $71.59 and a 1 year high of $167.09. The firm has a market capitalization of $12.77 billion, a P/E ratio of 15.26, a price-to-earnings-growth ratio of 0.84 and a beta of 0.89.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.07. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the business posted $1.51 earnings per share. GoDaddy’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts predict that GoDaddy Inc. will post 7.15 EPS for the current year.

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.