Strive Asset Management LLC Takes Position in GoDaddy Inc. $GDDY

Strive Asset Management LLC bought a new position in shares of GoDaddy Inc. (NYSE:GDDY) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 149,773 shares of the technology company’s stock, valued at approximately $20,493,000. GoDaddy accounts for 0.7% of Strive Asset Management LLC’s investment portfolio, making the stock its 13th biggest position. Strive Asset Management LLC owned about 0.11% of GoDaddy as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of GDDY. Elo Mutual Pension Insurance Co increased its position in shares of GoDaddy by 53.5% in the third quarter. Elo Mutual Pension Insurance Co now owns 26,264 shares of the technology company’s stock worth $3,594,000 after acquiring an additional 9,155 shares in the last quarter. American Century Companies Inc. increased its holdings in GoDaddy by 130.5% in the 3rd quarter. American Century Companies Inc. now owns 151,432 shares of the technology company’s stock valued at $20,720,000 after purchasing an additional 85,733 shares in the last quarter. Aster Capital Management DIFC Ltd raised its position in GoDaddy by 184.4% in the third quarter. Aster Capital Management DIFC Ltd now owns 2,668 shares of the technology company’s stock valued at $365,000 after purchasing an additional 1,730 shares during the period. Handelsbanken Fonder AB lifted its stake in shares of GoDaddy by 23.9% during the third quarter. Handelsbanken Fonder AB now owns 42,500 shares of the technology company’s stock worth $5,815,000 after purchasing an additional 8,200 shares in the last quarter. Finally, Banco Santander S.A. boosted its position in shares of GoDaddy by 36.0% in the third quarter. Banco Santander S.A. now owns 11,142 shares of the technology company’s stock worth $1,525,000 after buying an additional 2,952 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insider Activity

In related news, CAO Phontip Palitwanon sold 2,397 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $128.44, for a total transaction 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. The trade was a 12.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Raymond James Financial reiterated a “strong-buy” rating and set a $100.00 target price on shares of GoDaddy in a report on Wednesday, February 25th. Weiss Ratings restated a “hold (c)” rating on shares of GoDaddy in a report on Wednesday, January 28th. Evercore set a $95.00 price target on shares of GoDaddy in a report on Wednesday, February 25th. Cantor Fitzgerald reduced their price objective on shares of GoDaddy from $130.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 25th. Finally, Jefferies Financial Group dropped their target price on shares of GoDaddy from $140.00 to $100.00 and set a “hold” rating for the company in a research report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $131.93.

GoDaddy Trading Up 1.3%

NYSE GDDY opened at $88.26 on Tuesday. GoDaddy Inc. has a one year low of $73.06 and a one year high of $193.55. The company has a 50-day simple moving average of $104.08 and a 200-day simple moving average of $124.27. The company has a debt-to-equity ratio of 17.50, a quick ratio of 0.61 and a current ratio of 0.61. The firm has a market capitalization of $11.93 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 0.80 and a beta of 0.96.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Tuesday, February 24th. The technology company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.22. GoDaddy had a net margin of 17.67% and a return on equity of 369.00%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the prior year, the business earned $1.36 earnings per share. GoDaddy’s quarterly revenue was up 6.8% on a year-over-year basis. On average, equities analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

GoDaddy Company 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.