Pacer Advisors Inc. Raises Position in GoDaddy Inc. $GDDY

Pacer Advisors Inc. raised its position in GoDaddy Inc. (NYSE:GDDY) by 67.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,256,998 shares of the technology company’s stock after buying an additional 504,374 shares during the period. Pacer Advisors Inc. owned about 0.93% of GoDaddy worth $155,968,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Invesco Ltd. lifted its position in shares of GoDaddy by 9.3% in the fourth quarter. Invesco Ltd. now owns 2,209,899 shares of the technology company’s stock valued at $274,204,000 after acquiring an additional 187,839 shares in the last quarter. Corient Private Wealth LLC boosted its stake in shares of GoDaddy by 17.9% in the fourth quarter. Corient Private Wealth LLC now owns 10,215 shares of the technology company’s stock worth $1,222,000 after acquiring an additional 1,552 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of GoDaddy by 85.3% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 30,531 shares of the technology company’s stock worth $3,788,000 after purchasing an additional 14,053 shares in the last quarter. Delta Global Management LP increased its position in shares of GoDaddy by 13.6% during the fourth quarter. Delta Global Management LP now owns 19,624 shares of the technology company’s stock worth $2,435,000 after purchasing an additional 2,354 shares in the last quarter. Finally, EP Wealth Advisors LLC acquired a new position in GoDaddy in the 4th quarter valued at $218,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Benchmark decreased their price objective on GoDaddy from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th. JPMorgan Chase & Co. dropped their target price on shares of GoDaddy from $154.00 to $124.00 and set an “overweight” rating for the company in a report on Thursday. Evercore set a $95.00 target price on shares of GoDaddy in a research report on Wednesday, February 25th. Piper Sandler began coverage on shares of GoDaddy in a research note on Thursday, March 12th. They issued a “neutral” rating and a $93.00 price target on the stock. Finally, Citigroup lowered their price target on shares of GoDaddy from $195.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $118.43.

Insiders Place Their Bets

In other GoDaddy news, CAO Phontip Palitwanon sold 542 shares of GoDaddy stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total value of $48,704.12. Following the sale, the chief accounting officer owned 19,995 shares in the company, 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 through the SEC website. 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 company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total value of $752,397.78. Following the completion of the transaction, the chief executive officer directly owned 521,747 shares in the company, valued at approximately $46,884,185.42. This trade represents a 1.58% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 in the last three months. 0.93% of the stock is owned by insiders.

GoDaddy Stock Performance

NYSE GDDY opened at $76.92 on Friday. The stock’s fifty day moving average is $85.04 and its two-hundred day moving average is $96.38. The firm has a market capitalization of $10.18 billion, a P/E ratio of 12.17, a price-to-earnings-growth ratio of 0.69 and a beta of 0.90. 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 Inc. has a fifty-two week low of $71.59 and a fifty-two week high of $181.49.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.07. The firm 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%. GoDaddy’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business earned $1.51 earnings per share. On average, research analysts anticipate that GoDaddy Inc. will post 7.14 earnings per share for the current year.

GoDaddy Company 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.