Y Intercept Hong Kong Ltd Trims Stock Position in GoDaddy Inc. $GDDY

Y Intercept Hong Kong Ltd lessened its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 8.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,385 shares of the technology company’s stock after selling 6,814 shares during the period. Y Intercept Hong Kong Ltd owned approximately 0.05% of GoDaddy worth $8,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Rachor Investment Advisory Services LLC purchased a new position in shares of GoDaddy during the fourth quarter worth $25,000. Activest Wealth Management raised its holdings in shares of GoDaddy by 6,600.0% during the fourth 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 last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of GoDaddy during the fourth quarter worth $25,000. Brown Brothers Harriman & Co. raised its holdings in shares of GoDaddy by 145.6% during the third quarter. Brown Brothers Harriman & Co. now owns 253 shares of the technology company’s stock worth $35,000 after purchasing an additional 150 shares during the last quarter. Finally, Harbour Investments Inc. raised its holdings in shares of GoDaddy by 191.0% during the fourth quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock worth $32,000 after purchasing an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on GDDY. Barclays reduced their target price on shares of GoDaddy from $200.00 to $118.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $100.00 price objective on shares of GoDaddy in a report on Wednesday, February 25th. Evercore set a $95.00 price objective on shares of GoDaddy in a report on Wednesday, February 25th. Jefferies Financial Group cut their price objective on shares of GoDaddy from $140.00 to $100.00 and set a “hold” rating for the company in a report on Monday, February 23rd. Finally, Wells Fargo & Company lifted their price objective on shares of GoDaddy from $77.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $120.57.

GoDaddy Stock Up 1.4%

GDDY stock opened at $76.24 on Friday. The stock has a market capitalization of $10.10 billion, a P/E ratio of 12.06, a P/E/G ratio of 0.68 and a beta of 0.90. The firm has a 50-day simple moving average of $85.45 and a 200-day simple moving average of $97.98. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 15.86. GoDaddy Inc. has a 52 week low of $71.59 and a 52 week high of $181.49.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, April 30th. The technology company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.07. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.26 billion. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.51 earnings per share. Equities analysts forecast that GoDaddy Inc. will post 7.14 earnings per share for the current fiscal year.

Insider Activity at GoDaddy

In other news, CAO Phontip Palitwanon sold 542 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total transaction of $48,704.12. Following the completion of the sale, the chief accounting officer owned 19,995 shares of the company’s stock, valued at $1,796,750.70. The trade was a 2.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Amanpal Singh Bhutani sold 8,373 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total transaction of $752,397.78. Following the sale, the chief executive officer directly owned 521,747 shares of the company’s stock, valued at $46,884,185.42. This 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 sold 16,751 shares of company stock worth $1,480,228 over the last three months. Company 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.