GoDaddy Inc. $GDDY Shares Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd boosted its holdings in GoDaddy Inc. (NYSE:GDDY) by 44.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 100,162 shares of the technology company’s stock after acquiring an additional 30,777 shares during the period. Y Intercept Hong Kong Ltd owned 0.08% of GoDaddy worth $8,280,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in GoDaddy during the fourth quarter worth $250,020,000. AQR Capital Management LLC lifted its stake in shares of GoDaddy by 117.5% in the 4th quarter. AQR Capital Management LLC now owns 2,989,931 shares of the technology company’s stock valued at $370,991,000 after purchasing an additional 1,615,005 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of GoDaddy by 47.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company’s stock valued at $483,360,000 after purchasing an additional 1,128,646 shares during the last quarter. Two Sigma Investments LP grew its holdings 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. Finally, Swedbank AB grew its holdings in shares of GoDaddy by 433.9% during 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 period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Trading Down 0.1%

Shares of GDDY stock opened at $88.42 on Friday. GoDaddy Inc. has a fifty-two week low of $71.59 and a fifty-two week high of $179.61. The company has a 50 day moving average price of $84.81 and a 200 day moving average price of $93.12. The stock has a market capitalization of $11.71 billion, a P/E ratio of 13.99, a price-to-earnings-growth ratio of 0.80 and a beta of 0.89. 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:GDDY) last released its earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the business earned $1.51 EPS. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. Equities research analysts predict that GoDaddy Inc. will post 7.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GDDY shares. Wells Fargo & Company upped their target price 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. JPMorgan Chase & Co. dropped their price target 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. UBS Group started coverage on shares of GoDaddy in a research note on Tuesday, May 5th. They issued a “neutral” rating and a $100.00 price target on the stock. Piper Sandler started coverage on shares of GoDaddy in a report on Thursday, March 12th. They issued a “neutral” rating and a $93.00 price objective on the stock. Finally, Benchmark lowered their price objective on shares of GoDaddy from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, GoDaddy presently has an average rating of “Moderate Buy” and a consensus target price of $118.43.

Insider Buying and Selling

In related news, CFO Mark Mccaffrey sold 3,500 shares of the business’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $82.92, for a total transaction of $290,220.00. Following the completion of the transaction, the chief financial officer directly owned 105,728 shares of the company’s stock, valued at $8,766,965.76. The trade was a 3.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 8,373 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total value of $752,397.78. Following the sale, the chief executive officer owned 521,747 shares in the company, valued at approximately $46,884,185.42. This trade represents a 1.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 16,751 shares of company stock valued at $1,480,228 in the last three months. 0.93% of the stock is currently owned by insiders.

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.