Goodnow Investment Group LLC Boosts Stock Position in GoDaddy Inc. $GDDY

Goodnow Investment Group LLC boosted its holdings in GoDaddy Inc. (NYSE:GDDYFree Report) by 1.7% during the fourth quarter, Holdings Channel reports. The fund owned 741,749 shares of the technology company’s stock after purchasing an additional 12,665 shares during the period. GoDaddy makes up 8.6% of Goodnow Investment Group LLC’s holdings, making the stock its 2nd largest holding. Goodnow Investment Group LLC’s holdings in GoDaddy were worth $92,036,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in GDDY. Thurston Springer Miller Herd & Titak Inc. bought a new stake in GoDaddy in the 4th quarter valued at $25,000. Rachor Investment Advisory Services LLC bought a new stake in GoDaddy in the 4th quarter valued at $25,000. Activest Wealth Management grew its stake in GoDaddy by 6,600.0% in the 4th quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock valued at $25,000 after buying an additional 198 shares during the last quarter. Harbour Investments Inc. grew its stake in GoDaddy by 191.0% in the 4th quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock valued at $32,000 after buying an additional 170 shares during the last quarter. Finally, Entrust Financial LLC acquired a new position in GoDaddy in the 4th quarter valued at about $35,000. Institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Up 1.5%

Shares of GDDY opened at $77.35 on Tuesday. GoDaddy Inc. has a 52 week low of $71.59 and a 52 week high of $181.49. The firm has a market cap of $10.24 billion, a P/E ratio of 12.24, a price-to-earnings-growth ratio of 0.69 and a beta of 0.90. The firm’s 50-day simple moving average is $85.36 and its 200 day simple moving average is $97.44. The company has a debt-to-equity ratio of 15.86, a quick ratio of 0.67 and a current ratio of 0.67.

GoDaddy (NYSE:GDDYGet Free Report) last posted 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 net margin of 17.32% and a return on equity of 366.90%. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the firm posted $1.51 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, analysts forecast that GoDaddy Inc. will post 7.14 earnings per share for the current year.

Insider Buying and Selling at GoDaddy

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

Wall Street Analysts Forecast Growth

GDDY has been the topic of a number of research reports. Evercore set a $95.00 price target on shares of GoDaddy in a research note on Wednesday, February 25th. Raymond James Financial reiterated a “strong-buy” rating and issued a $100.00 price target on shares of GoDaddy in a research note on Wednesday, February 25th. JPMorgan Chase & Co. decreased their price target on shares of GoDaddy from $167.00 to $154.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. Piper Sandler initiated coverage on shares of GoDaddy in a research note on Thursday, March 12th. They issued a “neutral” rating and a $93.00 price target on the stock. Finally, Benchmark decreased their price target on shares of GoDaddy from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $120.57.

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GoDaddy Profile

(Free Report)

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.

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Institutional Ownership by Quarter for GoDaddy (NYSE:GDDY)

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