KBC Group NV trimmed its stake in GoDaddy Inc. (NYSE:GDDY – Free Report) by 59.3% during the first quarter, HoldingsChannel.com reports. The fund owned 31,557 shares of the technology company’s stock after selling 45,897 shares during the period. KBC Group NV’s holdings in GoDaddy were worth $2,609,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of GoDaddy in the 4th quarter valued at $25,000. Rachor Investment Advisory Services LLC purchased a new position in shares of GoDaddy in the fourth quarter worth approximately $25,000. Activest Wealth Management boosted 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 worth $25,000 after purchasing an additional 198 shares during the period. International Assets Investment Management LLC boosted its stake in GoDaddy by 93.8% in the 1st quarter. International Assets Investment Management LLC now owns 372 shares of the technology company’s stock worth $30,000 after purchasing an additional 180 shares during the period. Finally, Harbour Investments Inc. grew its position in GoDaddy by 191.0% during the 4th quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock worth $32,000 after purchasing an additional 170 shares in the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.
Key Stories Impacting GoDaddy
Here are the key news stories impacting GoDaddy this week:
- Positive Sentiment: Several recent articles highlight GoDaddy’s valuation as potentially attractive after its sharp pullback, with some coverage arguing the stock may be mispriced and pointing to improving long-term fundamentals. GoDaddy (NYSE:GDDY) Looks Mispriced After Its Steep Drop
- Positive Sentiment: Investor interest is also being supported by expectations for upcoming earnings, with some analysts still projecting revenue and earnings growth ahead of GoDaddy’s next report. GoDaddy (GDDY) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
- Positive Sentiment: GoDaddy has also drawn attention for its developer-platform push, which some articles frame as a potential catalyst if the strategy expands the company’s growth opportunities. GoDaddy’s Pricing Misstep and Developer Push Could Be A Game Changer For GoDaddy (GDDY)
- Neutral Sentiment: GoDaddy released its quarterly results recently, and the company previously beat analyst estimates on earnings and revenue, which continues to anchor investor expectations heading into the next report. GoDaddy (GDDY) Launches Developer Platform As Fair Value Narrative Stays In Focus
- Negative Sentiment: Multiple law firms, including Rosen Law Firm and Kaplan Fox & Kilsheimer, announced or reiterated investigations into possible securities-law violations and potentially misleading disclosures at GoDaddy, increasing legal overhang and uncertainty for shareholders. ROSEN, TRUSTED INVESTOR COUNSEL, Encourages GoDaddy Inc. Investors to Inquire About Securities Class Action Investigation – GDDY
Insider Buying and Selling
Wall Street Analysts Forecast Growth
GDDY has been the topic of a number of research analyst reports. UBS Group initiated coverage on GoDaddy in a report on Tuesday, May 5th. They set a “neutral” rating and a $100.00 price target on the stock. Benchmark lowered their target price on GoDaddy from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. JPMorgan Chase & Co. dropped their target price on GoDaddy from $154.00 to $124.00 and set an “overweight” rating on the stock in a report on Thursday, June 18th. Weiss Ratings restated a “hold (c-)” rating on shares of GoDaddy in a report on Tuesday, June 16th. Finally, Wells Fargo & Company upped their price target on shares of GoDaddy from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. One research 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. Based on data from MarketBeat, GoDaddy currently has an average rating of “Moderate Buy” and an average target price of $118.43.
Check Out Our Latest Research Report on GoDaddy
GoDaddy Price Performance
Shares of GDDY opened at $93.08 on Friday. The company has a debt-to-equity ratio of 15.86, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market cap of $12.32 billion, a PE ratio of 14.73, a PEG ratio of 0.79 and a beta of 0.89. The firm’s 50 day moving average price is $86.03 and its 200 day moving average price is $89.47. GoDaddy Inc. has a twelve month low of $71.59 and a twelve month high of $168.13.
GoDaddy (NYSE:GDDY – Get Free Report) last posted its earnings results on Thursday, April 30th. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.53 by $0.07. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the firm posted $1.51 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, research analysts expect that GoDaddy Inc. will post 7.15 EPS for the current fiscal year.
GoDaddy Profile
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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