Hsbc Holdings PLC Buys 212,354 Shares of GoDaddy Inc. (NYSE:GDDY)

Hsbc Holdings PLC increased its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 109.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 406,683 shares of the technology company’s stock after acquiring an additional 212,354 shares during the quarter. Hsbc Holdings PLC’s holdings in GoDaddy were worth $56,786,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. V Square Quantitative Management LLC bought a new position in shares of GoDaddy in the fourth quarter valued at $28,000. Transcendent Capital Group LLC purchased a new stake in shares of GoDaddy in the second quarter valued at about $28,000. GAMMA Investing LLC raised its holdings in shares of GoDaddy by 102.3% in the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after purchasing an additional 133 shares during the last quarter. ORG Partners LLC purchased a new stake in shares of GoDaddy in the second quarter valued at about $32,000. Finally, Frazier Financial Advisors LLC purchased a new stake in shares of GoDaddy in the fourth quarter valued at about $33,000. 90.28% of the stock is owned by institutional investors.

GoDaddy Stock Up 0.2 %

NYSE GDDY opened at $160.48 on Friday. The company has a debt-to-equity ratio of 24.13, a quick ratio of 0.48 and a current ratio of 0.48. The company has a market capitalization of $22.90 billion, a P/E ratio of 13.33 and a beta of 1.13. GoDaddy Inc. has a one year low of $71.15 and a one year high of $167.65. The stock has a 50 day moving average price of $154.36 and a 200-day moving average price of $138.69.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.06). The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.63 earnings per share. As a group, equities analysts predict that GoDaddy Inc. will post 5.06 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on GDDY. Citigroup raised their price objective on shares of GoDaddy from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Royal Bank of Canada raised their price objective on shares of GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. JPMorgan Chase & Co. raised their price objective on shares of GoDaddy from $136.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, May 29th. B. Riley lifted their target price on shares of GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Finally, Benchmark lifted their target price on shares of GoDaddy from $170.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $164.08.

Insider Activity

In other news, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $139.79, for a total transaction of $559,160.00. Following the completion of the sale, the chief operating officer now directly owns 192,632 shares of the company’s stock, valued at $26,928,027.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Sigal Zarmi sold 400 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $157.61, for a total transaction of $63,044.00. Following the sale, the director now owns 4,661 shares in the company, valued at $734,620.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $139.79, for a total value of $559,160.00. Following the sale, the chief operating officer now owns 192,632 shares in the company, valued at approximately $26,928,027.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,744 shares of company stock valued at $4,816,386. 0.61% of the stock is currently owned by company insiders.

GoDaddy Company 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.