Thoroughbred Financial Services LLC Makes New Investment in GoDaddy Inc. (NYSE:GDDY)

Thoroughbred Financial Services LLC purchased a new stake in GoDaddy Inc. (NYSE:GDDY) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,898 shares of the technology company’s stock, valued at approximately $404,000.

A number of other large investors also recently made changes to their positions in the stock. Whittier Trust Co. lifted its stake in shares of GoDaddy by 4.3% in the 2nd quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock valued at $249,000 after purchasing an additional 74 shares during the period. Gulf International Bank UK Ltd lifted its stake in shares of GoDaddy by 0.9% in the 1st quarter. Gulf International Bank UK Ltd now owns 12,030 shares of the technology company’s stock valued at $1,427,000 after purchasing an additional 113 shares during the period. Sivia Capital Partners LLC lifted its stake in shares of GoDaddy by 3.9% in the 1st quarter. Sivia Capital Partners LLC now owns 3,023 shares of the technology company’s stock valued at $359,000 after purchasing an additional 113 shares during the period. GAMMA Investing LLC lifted its stake in shares of GoDaddy by 102.3% in the 1st 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 period. Finally, Signaturefd LLC lifted its stake in shares of GoDaddy by 6.3% in the 2nd quarter. Signaturefd LLC now owns 2,480 shares of the technology company’s stock valued at $346,000 after purchasing an additional 148 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Transactions at GoDaddy

In other news, Director Sigal Zarmi sold 400 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $157.61, for a total transaction of $63,044.00. Following the completion of the transaction, the director now directly owns 4,661 shares in the company, valued at approximately $734,620.21. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CAO Nick Daddario sold 2,976 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $151.61, for a total value of $451,191.36. Following the completion of the sale, the chief accounting officer now directly owns 14,728 shares in the company, valued at approximately $2,232,912.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sigal Zarmi sold 400 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $157.61, for a total transaction of $63,044.00. Following the completion of the sale, the director now owns 4,661 shares of the company’s stock, valued at $734,620.21. The disclosure for this sale can be found here. Insiders sold a total of 30,744 shares of company stock worth $4,664,216 in the last three months. Insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

GDDY has been the topic of a number of analyst reports. Royal Bank of Canada increased their price target on GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Piper Sandler upped their price objective on shares of GoDaddy from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. upped their price objective on shares of GoDaddy from $136.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, May 29th. Cantor Fitzgerald started coverage on shares of GoDaddy in a research report on Thursday, September 5th. They issued a “neutral” rating and a $170.00 price objective for the company. Finally, Benchmark upped their price objective on shares of GoDaddy from $170.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, August 26th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $164.08.

GoDaddy Price Performance

GDDY stock opened at $150.29 on Tuesday. The stock has a 50-day moving average price of $153.27 and a two-hundred day moving average price of $137.80. The stock has a market cap of $21.44 billion, a PE ratio of 12.48 and a beta of 1.13. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13. GoDaddy Inc. has a 1 year low of $71.15 and a 1 year high of $167.65.

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

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.