Xponance Inc. Grows Position in GoDaddy Inc. (NYSE:GDDY)

Xponance Inc. raised its holdings in GoDaddy Inc. (NYSE:GDDY) by 2.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,594 shares of the technology company’s stock after purchasing an additional 692 shares during the period. Xponance Inc.’s holdings in GoDaddy were worth $4,414,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of GDDY. Bank of Montreal Can boosted its holdings 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 worth $19,105,000 after acquiring an additional 103,729 shares during the period. Evergreen Capital Management LLC purchased a new stake in GoDaddy during the 2nd quarter worth about $242,000. Epoch Investment Partners Inc. boosted its stake in GoDaddy by 1.0% in the 2nd quarter. Epoch Investment Partners Inc. now owns 438,132 shares of the technology company’s stock worth $61,211,000 after purchasing an additional 4,149 shares during the period. ProShare Advisors LLC boosted its stake in GoDaddy by 268.4% in the 2nd quarter. ProShare Advisors LLC now owns 25,880 shares of the technology company’s stock worth $3,616,000 after purchasing an additional 18,855 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in GoDaddy by 297.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 140,302 shares of the technology company’s stock valued at $19,601,000 after buying an additional 105,012 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Up 0.7 %

Shares of GDDY opened at $158.85 on Thursday. GoDaddy Inc. has a 1 year low of $71.15 and a 1 year high of $167.65. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48. The stock has a 50 day simple moving average of $155.08 and a two-hundred day simple moving average of $139.87. The firm has a market cap of $22.39 billion, a P/E ratio of 13.19 and a beta of 1.13.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 earnings per share 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 during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the firm posted $0.63 earnings per share. The company’s revenue was up 7.3% compared to the same quarter last year. On average, analysts forecast that GoDaddy Inc. will post 5.06 earnings per share for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other news, Director Sigal Zarmi sold 400 shares of GoDaddy stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $157.61, for a total value of $63,044.00. Following the transaction, the director now owns 4,661 shares in the company, valued at $734,620.21. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Sigal Zarmi sold 400 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the transaction, the director now owns 4,661 shares in the company, valued at $734,620.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction on Monday, July 1st. The stock was sold at an average price of $139.79, for a total transaction of $559,160.00. Following the completion of the transaction, the chief operating officer now directly owns 192,632 shares in the company, valued at $26,928,027.28. The disclosure for this sale can be found here. Insiders sold a total of 31,744 shares of company stock worth $4,816,386 over the last three months. Company insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GDDY. JPMorgan Chase & Co. raised 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. Raymond James raised their price target on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Cantor Fitzgerald reissued a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a research note on Monday. Finally, Barclays upped their target price on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.54.

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.