GoDaddy Inc. (NYSE:GDDY) Position Lessened by Maverick Capital Ltd.

Maverick Capital Ltd. reduced its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 12.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,112 shares of the technology company’s stock after selling 1,243 shares during the quarter. Maverick Capital Ltd.’s holdings in GoDaddy were worth $1,273,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Corient Private Wealth LLC increased its holdings in shares of GoDaddy by 70.1% in the 4th quarter. Corient Private Wealth LLC now owns 5,190 shares of the technology company’s stock worth $551,000 after acquiring an additional 2,138 shares during the period. Franklin Resources Inc. grew its position in GoDaddy by 58.1% in the 4th quarter. Franklin Resources Inc. now owns 23,605 shares of the technology company’s stock worth $2,506,000 after purchasing an additional 8,675 shares during the last quarter. Orion Portfolio Solutions LLC increased its stake in shares of GoDaddy by 1.3% in the fourth quarter. Orion Portfolio Solutions LLC now owns 20,419 shares of the technology company’s stock valued at $2,082,000 after purchasing an additional 267 shares during the period. Advisory Services Network LLC bought a new stake in shares of GoDaddy during the fourth quarter valued at approximately $497,000. Finally, Hsbc Holdings PLC boosted its position in shares of GoDaddy by 47.7% during the fourth quarter. Hsbc Holdings PLC now owns 103,229 shares of the technology company’s stock worth $10,980,000 after buying an additional 33,342 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity at GoDaddy

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $152.17, for a total transaction of $152,170.00. Following the sale, the chief operating officer now owns 187,632 shares in the company, valued at approximately $28,551,961.44. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Mark Mccaffrey sold 5,500 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total value of $906,125.00. Following the completion of the sale, the chief financial officer now owns 101,286 shares of the company’s stock, valued at $16,686,868.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Monday, September 16th. The shares were sold at an average price of $152.17, for a total value of $152,170.00. Following the transaction, the chief operating officer now owns 187,632 shares in the company, valued at approximately $28,551,961.44. The disclosure for this sale can be found here. Insiders sold 31,744 shares of company stock worth $4,816,386 in the last quarter. 0.61% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on GDDY shares. Barclays raised their target price on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday. B. Riley lifted their price objective on shares of GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Royal Bank of Canada increased their target price on shares of GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Robert W. Baird boosted their price target on shares of GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Benchmark upped their price target 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. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $166.54.

GoDaddy Trading Up 0.2 %

Shares of NYSE:GDDY opened at $156.01 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 stock has a market capitalization of $22.26 billion, a price-to-earnings ratio of 12.96 and a beta of 1.13. GoDaddy Inc. has a 1-year low of $71.15 and a 1-year high of $167.65. The company has a 50 day moving average price of $155.31 and a 200 day moving average price of $139.98.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data 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). The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.63 earnings per share. On average, research analysts anticipate that GoDaddy Inc. will post 5.06 EPS for the current fiscal year.

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.