Versor Investments LP Takes $1.33 Million Position in GoDaddy Inc. $GDDY

Versor Investments LP bought a new stake in GoDaddy Inc. (NYSE:GDDY) in the 3rd quarter, Holdings Channel.com reports. The fund bought 9,689 shares of the technology company’s stock, valued at approximately $1,326,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Sivia Capital Partners LLC grew its holdings in GoDaddy by 90.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,271 shares of the technology company’s stock valued at $589,000 after buying an additional 1,552 shares during the period. Callan Family Office LLC purchased a new stake in GoDaddy in the second quarter valued at approximately $367,000. IFP Advisors Inc grew its holdings in GoDaddy by 3.4% in the second quarter. IFP Advisors Inc now owns 3,421 shares of the technology company’s stock valued at $616,000 after purchasing an additional 113 shares during the period. PDS Planning Inc acquired a new position in GoDaddy during the second quarter worth approximately $218,000. Finally, Aberdeen Group plc raised its stake in GoDaddy by 8.2% during the second quarter. Aberdeen Group plc now owns 106,771 shares of the technology company’s stock worth $19,225,000 after purchasing an additional 8,112 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.

GoDaddy Price Performance

GDDY stock opened at $98.16 on Tuesday. The firm has a market cap of $13.27 billion, a P/E ratio of 16.95, a price-to-earnings-growth ratio of 0.88 and a beta of 0.94. The company has a debt-to-equity ratio of 41.06, a quick ratio of 0.57 and a current ratio of 0.57. GoDaddy Inc. has a 1 year low of $92.22 and a 1 year high of $213.87. The stock has a 50-day simple moving average of $115.46 and a 200-day simple moving average of $131.01.

Analyst Ratings Changes

A number of analysts have recently commented on GDDY shares. Jefferies Financial Group dropped their price objective on GoDaddy from $150.00 to $140.00 and set a “hold” rating for the company in a report on Monday, January 5th. JPMorgan Chase & Co. dropped their price target on GoDaddy from $222.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Raymond James Financial restated a “strong-buy” rating on shares of GoDaddy in a report on Friday, October 31st. Royal Bank Of Canada set a $70.00 price objective on GoDaddy in a research note on Wednesday, January 7th. Finally, UBS Group dropped their target price on shares of GoDaddy from $160.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $166.21.

Insider Buying and Selling at GoDaddy

In other news, CAO Phontip Palitwanon sold 2,397 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $128.44, for a total value of $307,870.68. Following the completion of the transaction, the chief accounting officer directly owned 17,055 shares in the company, valued at approximately $2,190,544.20. This represents a 12.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Amanpal Singh Bhutani sold 6,932 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total transaction of $886,880.08. Following the sale, the chief executive officer directly owned 399,133 shares of the company’s stock, valued at approximately $51,065,076.02. The trade was a 1.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 13,615 shares of company stock valued at $1,743,102 over the last 90 days. 0.70% of the stock is owned by corporate insiders.

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.