Summit Investment Advisors Inc. Increases Stock Holdings in GoDaddy Inc. $GDDY

Summit Investment Advisors Inc. boosted its stake in GoDaddy Inc. (NYSE:GDDY) by 6.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,030 shares of the technology company’s stock after acquiring an additional 630 shares during the quarter. Summit Investment Advisors Inc.’s holdings in GoDaddy were worth $1,987,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GDDY. Fox Run Management L.L.C. purchased a new position in shares of GoDaddy in the second quarter valued at $1,940,000. Penserra Capital Management LLC boosted its position in GoDaddy by 14.0% in the 2nd quarter. Penserra Capital Management LLC now owns 748 shares of the technology company’s stock valued at $134,000 after buying an additional 92 shares during the last quarter. Savant Capital LLC grew its stake in shares of GoDaddy by 1.5% during the second quarter. Savant Capital LLC now owns 35,424 shares of the technology company’s stock valued at $6,378,000 after acquiring an additional 518 shares in the last quarter. Achmea Investment Management B.V. increased its position in shares of GoDaddy by 0.8% during the second quarter. Achmea Investment Management B.V. now owns 128,472 shares of the technology company’s stock worth $23,133,000 after acquiring an additional 994 shares during the last quarter. Finally, Andra AP fonden lifted its stake in shares of GoDaddy by 42.4% in the second quarter. Andra AP fonden now owns 381,310 shares of the technology company’s stock worth $68,659,000 after acquiring an additional 113,600 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insider Buying and Selling

In related news, CAO Phontip Palitwanon sold 777 shares of GoDaddy stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $142.21, for a total transaction of $110,497.17. Following the sale, the chief accounting officer directly owned 20,421 shares in the company, valued at $2,904,070.41. The trade was a 3.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Leah Sweet sold 650 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $141.14, for a total transaction of $91,741.00. Following the completion of the sale, the director directly owned 12,064 shares of the company’s stock, valued at approximately $1,702,712.96. This represents a 5.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 21,203 shares of company stock valued at $3,060,798. Company insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Piper Sandler set a $182.00 price objective on GoDaddy and gave the company an “overweight” rating in a research note on Friday, August 8th. Barclays decreased their price target on shares of GoDaddy from $235.00 to $200.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. JPMorgan Chase & Co. dropped their price target on shares of GoDaddy from $222.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Morgan Stanley set a $159.00 price objective on GoDaddy in a report on Friday, October 31st. Finally, Citigroup reduced their price objective on GoDaddy from $214.00 to $195.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, GoDaddy has an average rating of “Moderate Buy” and an average target price of $184.07.

GoDaddy Trading Down 0.8%

GoDaddy stock opened at $131.93 on Monday. GoDaddy Inc. has a 52-week low of $125.00 and a 52-week high of $216.00. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 9.33. The firm has a market capitalization of $18.27 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 1.36 and a beta of 0.96. The firm has a 50-day moving average price of $137.70 and a two-hundred day moving average price of $159.26.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, October 30th. The technology company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. GoDaddy had a return on equity of 189.42% and a net margin of 17.01%.The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the company posted $1.32 earnings per share. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. GoDaddy has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Sell-side analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

GoDaddy Profile

GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.