GAMMA Investing LLC Grows Stake in GoDaddy Inc. (NYSE:GDDY)

GAMMA Investing LLC lifted its position in GoDaddy Inc. (NYSE:GDDY) by 102.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 263 shares of the technology company’s stock after buying an additional 133 shares during the period. GAMMA Investing LLC’s holdings in GoDaddy were worth $31,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Kapitalo Investimentos Ltda bought a new stake in shares of GoDaddy in the fourth quarter worth about $70,000. Quadrature Capital Ltd increased its stake in GoDaddy by 78.6% during the fourth quarter. Quadrature Capital Ltd now owns 68,567 shares of the technology company’s stock worth $7,280,000 after acquiring an additional 30,172 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in GoDaddy during the fourth quarter worth approximately $309,000. Royal London Asset Management Ltd. increased its stake in GoDaddy by 5.6% during the fourth quarter. Royal London Asset Management Ltd. now owns 60,191 shares of the technology company’s stock worth $6,390,000 after acquiring an additional 3,179 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in GoDaddy by 13.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 905,858 shares of the technology company’s stock worth $96,166,000 after acquiring an additional 110,076 shares during the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Royal Bank of Canada boosted their price objective on GoDaddy from $124.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. B. Riley boosted their price objective on GoDaddy from $124.00 to $142.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Piper Sandler boosted their target price on GoDaddy from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. Evercore ISI boosted their target price on GoDaddy from $110.00 to $135.00 and gave the company an “in-line” rating in a research report on Friday, May 3rd. Finally, William Blair restated an “outperform” rating on shares of GoDaddy in a research report on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $149.92.

GoDaddy Stock Down 1.0 %

Shares of NYSE GDDY opened at $139.80 on Thursday. The company has a debt-to-equity ratio of 9.15, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a market capitalization of $19.95 billion, a price-to-earnings ratio of 11.61 and a beta of 1.10. The stock has a 50 day moving average price of $133.95 and a 200 day moving average price of $119.78. GoDaddy Inc. has a 52-week low of $69.18 and a 52-week high of $142.95.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, May 2nd. The technology company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.08. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. Sell-side analysts expect that GoDaddy Inc. will post 4.82 earnings per share for the current year.

Insiders Place Their Bets

In other GoDaddy news, CAO Nick Daddario sold 7,278 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $138.92, for a total transaction of $1,011,059.76. Following the completion of the sale, the chief accounting officer now owns 18,388 shares in the company, valued at $2,554,460.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Leah Sweet sold 1,000 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $141.59, for a total transaction of $141,590.00. Following the transaction, the director now directly owns 11,317 shares of the company’s stock, valued at $1,602,374.03. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Nick Daddario sold 7,278 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $138.92, for a total value of $1,011,059.76. Following the transaction, the chief accounting officer now directly owns 18,388 shares in the company, valued at $2,554,460.96. The disclosure for this sale can be found here. Insiders sold a total of 46,195 shares of company stock worth $6,237,029 over the last 90 days. Company insiders own 0.61% of the company’s stock.

About GoDaddy

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.