GoDaddy Inc. $GDDY Stake Boosted by SG Americas Securities LLC

SG Americas Securities LLC lifted its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 4.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 262,951 shares of the technology company’s stock after purchasing an additional 11,609 shares during the quarter. SG Americas Securities LLC’s holdings in GoDaddy were worth $21,738,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in GDDY. Sivia Capital Partners LLC increased its position in GoDaddy by 90.3% in the second quarter. Sivia Capital Partners LLC now owns 3,271 shares of the technology company’s stock worth $589,000 after buying an additional 1,552 shares during the period. Cerity Partners LLC boosted its holdings in shares of GoDaddy by 50.0% during the second quarter. Cerity Partners LLC now owns 27,189 shares of the technology company’s stock valued at $4,896,000 after acquiring an additional 9,062 shares during the period. Treasurer of the State of North Carolina grew its position in shares of GoDaddy by 83.0% during the second quarter. Treasurer of the State of North Carolina now owns 155,593 shares of the technology company’s stock worth $28,016,000 after acquiring an additional 70,585 shares during the last quarter. Osterweis Capital Management Inc. acquired a new stake in shares of GoDaddy in the 2nd quarter worth about $152,000. Finally, Main Street Financial Solutions LLC increased its holdings in shares of GoDaddy by 1.0% in the 2nd quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company’s stock worth $2,185,000 after acquiring an additional 119 shares during the period. Institutional investors own 90.28% of the company’s stock.

Insider Activity at GoDaddy

In other news, CAO Phontip Palitwanon sold 542 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total value of $48,704.12. Following the completion of the sale, the chief accounting officer directly owned 19,995 shares of the company’s stock, valued at approximately $1,796,750.70. This represents a 2.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 the stock in a transaction that occurred on Monday, June 1st. The shares were 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 of the company’s stock, valued at $501,390.72. This trade represents a 5.78% decrease in their ownership of the stock. 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 90 days, insiders sold 16,751 shares of company stock valued at $1,480,228. 0.93% of the stock is currently owned by insiders.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $81.34 on Thursday. The stock has a market cap of $10.77 billion, a P/E ratio of 12.87, a P/E/G ratio of 0.69 and a beta of 0.90. The firm’s 50-day simple moving average is $84.77 and its 200 day simple moving average is $94.92. GoDaddy Inc. has a fifty-two week low of $71.59 and a fifty-two week high of $181.49. 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 (NYSE:GDDY) last announced its earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.07. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.26 billion. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. GoDaddy’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.51 EPS. Equities analysts expect that GoDaddy Inc. will post 7.13 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on GDDY shares. 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 research report on Friday, May 1st. Citigroup dropped their price target on shares of GoDaddy from $195.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Royal Bank Of Canada cut their price target on GoDaddy from $200.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Barclays reduced their price objective on GoDaddy from $200.00 to $118.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. Finally, Piper Sandler began coverage on GoDaddy in a report on Thursday, March 12th. They issued a “neutral” rating and a $93.00 price objective for the company. One equities research 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. Based on data from MarketBeat.com, GoDaddy currently has an average rating of “Moderate Buy” and an average target price of $118.43.

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.