Y Intercept Hong Kong Ltd Raises Stake in GoDaddy Inc. $GDDY

Y Intercept Hong Kong Ltd raised its position in GoDaddy Inc. (NYSE:GDDY) by 44.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 100,162 shares of the technology company’s stock after purchasing an additional 30,777 shares during the period. Y Intercept Hong Kong Ltd’s holdings in GoDaddy were worth $8,280,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Coldstream Capital Management Inc. grew its stake in shares of GoDaddy by 4.8% during the third quarter. Coldstream Capital Management Inc. now owns 1,887 shares of the technology company’s stock worth $258,000 after purchasing an additional 86 shares in the last quarter. Main Street Financial Solutions LLC increased its holdings in GoDaddy by 1.0% in the second quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company’s stock valued at $2,185,000 after buying an additional 119 shares during the last quarter. Lido Advisors LLC raised its stake in GoDaddy by 6.2% in the fourth quarter. Lido Advisors LLC now owns 2,083 shares of the technology company’s stock valued at $283,000 after buying an additional 121 shares in the last quarter. Martin Capital Advisors LLP raised its stake in GoDaddy by 1.5% in the fourth quarter. Martin Capital Advisors LLP now owns 9,082 shares of the technology company’s stock valued at $1,127,000 after buying an additional 130 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in GoDaddy by 18.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 832 shares of the technology company’s stock worth $103,000 after buying an additional 132 shares during the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 8,373 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total transaction of $752,397.78. Following the transaction, the chief executive officer directly owned 521,747 shares of the company’s stock, valued at approximately $46,884,185.42. This trade represents a 1.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Phontip Palitwanon sold 542 shares of GoDaddy stock in a transaction on 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 transaction, the chief accounting officer owned 19,995 shares in the company, valued at approximately $1,796,750.70. This represents a 2.64% decrease in their ownership of the stock. 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. Over the last quarter, insiders sold 16,751 shares of company stock valued at $1,480,228. Insiders own 0.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of GoDaddy in a research report on Tuesday, June 16th. Benchmark cut their target price on GoDaddy from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. JPMorgan Chase & Co. decreased their target price on GoDaddy from $154.00 to $124.00 and set an “overweight” rating for the company in a research note on Thursday, June 18th. Piper Sandler began coverage on GoDaddy in a report on Thursday, March 12th. They issued a “neutral” rating and a $93.00 price target for the company. Finally, UBS Group began coverage on shares of GoDaddy in a research note on Tuesday, May 5th. They issued a “neutral” rating and a $100.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $118.43.

GoDaddy Trading Down 0.1%

GDDY opened at $88.42 on Friday. The firm has a market cap of $11.71 billion, a price-to-earnings ratio of 13.99, a price-to-earnings-growth ratio of 0.80 and a beta of 0.89. GoDaddy Inc. has a 52 week low of $71.59 and a 52 week high of $179.61. The business’s 50 day moving average is $84.81 and its two-hundred day moving average is $93.12. 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 issued its quarterly earnings data on Thursday, April 30th. The technology company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.07. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.26 billion. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.51 earnings per share. On average, research analysts predict that GoDaddy Inc. will post 7.13 EPS for the current year.

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.