Delta Global Management LP boosted its holdings in GoDaddy Inc. (NYSE:GDDY – Free Report) by 38.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,210 shares of the technology company’s stock after acquiring an additional 7,586 shares during the quarter. Delta Global Management LP’s holdings in GoDaddy were worth $2,249,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the business. Coldstream Capital Management Inc. boosted its position in shares of GoDaddy by 4.8% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,887 shares of the technology company’s stock valued at $258,000 after acquiring an additional 86 shares during the last quarter. Main Street Financial Solutions LLC grew its holdings in shares of GoDaddy by 1.0% during the second quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company’s stock worth $2,185,000 after purchasing an additional 119 shares in the last quarter. Lido Advisors LLC increased its position in shares of GoDaddy by 6.2% in the fourth quarter. Lido Advisors LLC now owns 2,083 shares of the technology company’s stock worth $283,000 after purchasing an additional 121 shares during the last quarter. Martin Capital Advisors LLP increased its position in shares of GoDaddy by 1.5% in the fourth quarter. Martin Capital Advisors LLP now owns 9,082 shares of the technology company’s stock worth $1,127,000 after purchasing an additional 130 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its stake in GoDaddy by 2.0% in the fourth quarter. Vontobel Holding Ltd. now owns 6,859 shares of the technology company’s stock valued at $851,000 after purchasing an additional 134 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of GoDaddy in a research report on Tuesday, June 16th. UBS Group assumed coverage on shares of GoDaddy in a report on Tuesday, May 5th. They issued a “neutral” rating and a $100.00 price target on the stock. Wells Fargo & Company raised their price objective on shares of GoDaddy from $77.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Benchmark dropped their price objective on shares of GoDaddy from $195.00 to $185.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. Finally, JPMorgan Chase & Co. cut their target price on shares of GoDaddy from $154.00 to $124.00 and set an “overweight” rating for the company in a research report on Thursday, June 18th. One 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $118.43.
Trending Headlines about 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
GoDaddy Stock Performance
Shares of NYSE GDDY opened at $93.08 on Friday. The stock has a market cap of $12.32 billion, a price-to-earnings ratio of 14.73, a P/E/G ratio of 0.84 and a beta of 0.89. 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 $168.13. The stock’s 50-day moving average is $86.03 and its 200 day moving average is $89.47.
GoDaddy (NYSE:GDDY – Get Free Report) last released its earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.07. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.26 billion. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.GoDaddy’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.51 EPS. On average, sell-side analysts anticipate that GoDaddy Inc. will post 7.15 EPS for the current fiscal year.
Insider Buying and Selling at GoDaddy
In related news, CEO Amanpal Singh Bhutani sold 8,373 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $46,884,185.42. This trade represents a 1.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sigal Zarmi sold 350 shares of GoDaddy stock in a transaction on Monday, June 1st. The stock was sold at an average price of $87.84, for a total transaction of $30,744.00. Following the completion of the transaction, the director owned 5,708 shares in the company, valued at approximately $501,390.72. The trade was a 5.78% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 16,751 shares of company stock valued at $1,480,228. Insiders own 0.93% 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.
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