Spyglass Capital Management LLC Decreases Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Spyglass Capital Management LLC lowered its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 24.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 267,614 shares of the technology company’s stock after selling 86,609 shares during the quarter. GoDaddy comprises 3.0% of Spyglass Capital Management LLC’s holdings, making the stock its 21st largest holding. Spyglass Capital Management LLC owned 0.19% of GoDaddy worth $52,819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Quent Capital LLC lifted its holdings in shares of GoDaddy by 4.4% during the 4th quarter. Quent Capital LLC now owns 1,259 shares of the technology company’s stock valued at $248,000 after purchasing an additional 53 shares during the last quarter. Advisors Capital Management LLC increased its holdings in shares of GoDaddy by 0.9% during the fourth quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company’s stock valued at $1,223,000 after acquiring an additional 55 shares in the last quarter. BNP Paribas raised its position in shares of GoDaddy by 2.9% in the 4th quarter. BNP Paribas now owns 2,111 shares of the technology company’s stock valued at $417,000 after purchasing an additional 59 shares during the last quarter. Lake Street Advisors Group LLC grew its position in GoDaddy by 4.7% during the 4th quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company’s stock worth $283,000 after purchasing an additional 64 shares during the last quarter. Finally, New York Life Investment Management LLC increased its stake in GoDaddy by 0.4% during the 4th quarter. New York Life Investment Management LLC now owns 18,785 shares of the technology company’s stock valued at $3,708,000 after purchasing an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insider Transactions at GoDaddy

In related news, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $190.86, for a total transaction of $95,430.00. Following the completion of the sale, the director now directly owns 21,121 shares of the company’s stock, valued at approximately $4,031,154.06. This trade represents a 2.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Mccaffrey sold 37,500 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $180.95, for a total transaction of $6,785,625.00. Following the completion of the transaction, the chief financial officer now directly owns 77,250 shares of the company’s stock, valued at approximately $13,978,387.50. The trade was a 32.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,500 shares of company stock worth $10,050,555 in the last ninety days. Insiders own 0.61% of the company’s stock.

GoDaddy Stock Up 0.2%

GDDY opened at $190.27 on Monday. The business’s fifty day simple moving average is $178.47 and its 200 day simple moving average is $189.13. GoDaddy Inc. has a 52 week low of $135.03 and a 52 week high of $216.00. The firm has a market cap of $27.11 billion, a P/E ratio of 29.50 and a beta of 1.13. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.08). The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The company’s revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.76 earnings per share. As a group, equities research analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GDDY has been the subject of several research analyst reports. StockNews.com cut GoDaddy from a “buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Raymond James raised their price objective on GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 21st. Wells Fargo & Company began coverage on GoDaddy in a research report on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 price objective for the company. JPMorgan Chase & Co. increased their target price on GoDaddy from $231.00 to $240.00 and gave the company an “overweight” rating in a research report on Tuesday, May 6th. Finally, Benchmark reissued a “buy” rating on shares of GoDaddy in a research note on Monday, April 28th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $214.86.

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.