Bwcp LP Has $13.10 Million Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Bwcp LP lowered its position in shares of GoDaddy Inc. (NYSE:GDDY) by 14.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 93,763 shares of the technology company’s stock after selling 16,204 shares during the quarter. GoDaddy accounts for 3.3% of Bwcp LP’s holdings, making the stock its 17th biggest position. Bwcp LP owned approximately 0.07% of GoDaddy worth $13,100,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Aristeia Capital L.L.C. acquired a new position in GoDaddy during the second quarter worth $395,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of GoDaddy by 62.3% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 25,921 shares of the technology company’s stock worth $3,621,000 after buying an additional 9,947 shares during the last quarter. Distillate Capital Partners LLC boosted its stake in shares of GoDaddy by 83,689.1% during the 2nd quarter. Distillate Capital Partners LLC now owns 107,250 shares of the technology company’s stock worth $14,984,000 after buying an additional 107,122 shares during the last quarter. Xponance Inc. grew its holdings in shares of GoDaddy by 2.2% in the 2nd quarter. Xponance Inc. now owns 31,594 shares of the technology company’s stock valued at $4,414,000 after acquiring an additional 692 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of GoDaddy by 328.7% in the second quarter. Bank of Montreal Can now owns 135,286 shares of the technology company’s stock valued at $19,105,000 after acquiring an additional 103,729 shares during the last quarter. 90.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GDDY. StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on shares of GoDaddy from $136.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, May 29th. Piper Sandler reaffirmed a “neutral” rating and set a $172.00 price target (up from $160.00) on shares of GoDaddy in a research report on Monday. Cantor Fitzgerald reissued a “neutral” rating and issued a $170.00 price objective on shares of GoDaddy in a research report on Monday. Finally, Royal Bank of Canada boosted their price objective on shares of GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.00.

GoDaddy Stock Down 0.5 %

GoDaddy stock opened at $157.78 on Wednesday. GoDaddy Inc. has a twelve month low of $71.15 and a twelve month high of $167.65. The stock has a market cap of $22.24 billion, a P/E ratio of 13.10 and a beta of 1.13. The company’s 50-day moving average price is $154.79 and its two-hundred day moving average price is $139.74. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 24.13.

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

Insider Activity

In related news, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $139.79, for a total transaction of $559,160.00. Following the transaction, the chief operating officer now directly owns 192,632 shares of the company’s stock, valued at $26,928,027.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Sigal Zarmi sold 400 shares of the company’s stock in a transaction on Friday, August 9th. The stock was 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 directly owns 4,661 shares in the company, valued at approximately $734,620.21. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $139.79, for a total value of $559,160.00. Following the completion of the transaction, the chief operating officer now directly owns 192,632 shares of the company’s stock, valued at approximately $26,928,027.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,744 shares of company stock valued at $4,816,386. 0.61% of the stock is owned by company insiders.

GoDaddy 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.