Entropy Technologies LP Has $5.46 Million Stake in GoDaddy Inc. $GDDY

Entropy Technologies LP grew its holdings in GoDaddy Inc. (NYSE:GDDY) by 382.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,995 shares of the technology company’s stock after buying an additional 34,880 shares during the period. Entropy Technologies LP’s holdings in GoDaddy were worth $5,459,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in GDDY. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of GoDaddy in the fourth quarter valued at approximately $25,000. Rachor Investment Advisory Services LLC acquired a new stake in shares of GoDaddy in the fourth quarter valued at approximately $25,000. Activest Wealth Management lifted its position in shares of GoDaddy by 6,600.0% in the fourth quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock valued at $25,000 after buying an additional 198 shares during the last quarter. Harbour Investments Inc. lifted its position in shares of GoDaddy by 191.0% in the fourth quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock valued at $32,000 after buying an additional 170 shares during the last quarter. Finally, Entrust Financial LLC acquired a new stake in shares of GoDaddy in the fourth quarter valued at approximately $35,000. 90.28% of the stock is owned by institutional investors and hedge funds.

GoDaddy Stock Performance

GDDY opened at $76.24 on Friday. The firm has a market cap of $10.10 billion, a P/E ratio of 12.06, a price-to-earnings-growth ratio of 0.69 and a beta of 0.90. GoDaddy Inc. has a 52-week low of $71.59 and a 52-week high of $181.49. The company has a debt-to-equity ratio of 15.86, a quick ratio of 0.67 and a current ratio of 0.67. The business’s fifty day moving average is $85.45 and its 200-day moving average is $97.98.

GoDaddy (NYSE:GDDY) last released its earnings results 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 company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.GoDaddy’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.51 EPS. Sell-side analysts expect that GoDaddy Inc. will post 7.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Mark Mccaffrey sold 3,958 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total transaction of $355,665.88. Following the completion of the transaction, the chief financial officer owned 109,228 shares of the company’s stock, valued at approximately $9,815,228.08. The trade was a 3.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 on Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total value of $752,397.78. Following the transaction, the chief executive officer directly owned 521,747 shares of the company’s stock, valued at $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 a total of 16,751 shares of company stock worth $1,480,228 over the last 90 days. Corporate insiders own 0.93% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on GDDY shares. Wells Fargo & Company lifted their price target on GoDaddy from $77.00 to $83.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Jefferies Financial Group dropped their price target on GoDaddy from $140.00 to $100.00 and set a “hold” rating for the company in a report on Monday, February 23rd. JPMorgan Chase & Co. dropped their price target on GoDaddy from $167.00 to $154.00 and set an “overweight” rating for the company in a report on Friday, May 1st. Piper Sandler started coverage on GoDaddy in a report on Thursday, March 12th. They set a “neutral” rating and a $93.00 price target for the company. Finally, Barclays dropped their price target on GoDaddy from $200.00 to $118.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, GoDaddy currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.57.

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.