GoDaddy Inc. $GDDY Position Raised by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd raised its position in shares of GoDaddy Inc. (NYSE:GDDY) by 145.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 76,199 shares of the technology company’s stock after purchasing an additional 45,190 shares during the quarter. Y Intercept Hong Kong Ltd owned about 0.06% of GoDaddy worth $10,426,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Hemington Wealth Management boosted its stake in GoDaddy by 85.9% during the third quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock valued at $25,000 after buying an additional 85 shares in the last quarter. Bayforest Capital Ltd acquired a new stake in GoDaddy in the 2nd quarter valued at about $26,000. NewSquare Capital LLC lifted its holdings in GoDaddy by 170.9% in the 2nd quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock valued at $27,000 after acquiring an additional 94 shares during the last quarter. Root Financial Partners LLC bought a new position in shares of GoDaddy during the 3rd quarter valued at about $31,000. Finally, Steph & Co. acquired a new stake in GoDaddy during the second quarter valued at approximately $55,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GDDY has been the topic of several recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of GoDaddy in a research report on Friday, October 31st. Royal Bank Of Canada set a $70.00 price objective on GoDaddy in a research note on Wednesday, January 7th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of GoDaddy in a research report on Friday, October 31st. Benchmark reaffirmed a “buy” rating on shares of GoDaddy in a report on Thursday, December 4th. Finally, Morgan Stanley cut their price objective on GoDaddy from $159.00 to $145.00 and set an “equal weight” rating on the stock in a report on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $166.21.

Insider Activity at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 6,932 shares of GoDaddy stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total transaction of $886,880.08. Following the completion of the sale, the chief executive officer owned 399,133 shares of the company’s stock, valued at approximately $51,065,076.02. This trade represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Phontip Palitwanon sold 2,397 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $128.44, for a total value of $307,870.68. Following the completion of the transaction, the chief accounting officer owned 17,055 shares in the company, valued at $2,190,544.20. This trade represents a 12.32% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 14,115 shares of company stock valued at $1,809,657. Company insiders own 0.70% of the company’s stock.

GoDaddy Stock Down 2.3%

NYSE:GDDY opened at $103.57 on Friday. The business’s fifty day moving average price is $121.34 and its 200 day moving average price is $136.90. The firm has a market capitalization of $14.00 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 0.96 and a beta of 0.95. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 41.06. GoDaddy Inc. has a 1-year low of $102.85 and a 1-year high of $216.00.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, October 30th. The technology company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.23 billion. GoDaddy had a return on equity of 231.34% and a net margin of 17.01%.The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the company posted $1.32 EPS. On average, sell-side analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

GoDaddy Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.