Qsemble Capital Management LP Acquires 26,318 Shares of GoDaddy Inc. $GDDY

Qsemble Capital Management LP increased its holdings in GoDaddy Inc. (NYSE:GDDY) by 217.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 38,442 shares of the technology company’s stock after acquiring an additional 26,318 shares during the period. Qsemble Capital Management LP’s holdings in GoDaddy were worth $4,770,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GDDY. Ameriprise Financial Inc. raised its holdings in GoDaddy by 47.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company’s stock worth $483,360,000 after purchasing an additional 1,128,646 shares in the last quarter. Two Sigma Investments LP raised its holdings in GoDaddy by 99.7% in the 3rd quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company’s stock worth $223,183,000 after purchasing an additional 814,360 shares in the last quarter. Victory Capital Management Inc. raised its holdings in GoDaddy by 318.6% in the 3rd quarter. Victory Capital Management Inc. now owns 735,452 shares of the technology company’s stock worth $100,632,000 after purchasing an additional 559,757 shares in the last quarter. Swedbank AB raised its holdings in GoDaddy by 433.9% in the 4th quarter. Swedbank AB now owns 645,754 shares of the technology company’s stock worth $80,125,000 after purchasing an additional 524,811 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in GoDaddy by 85.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 894,243 shares of the technology company’s stock worth $122,359,000 after purchasing an additional 411,349 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Performance

GoDaddy stock opened at $87.27 on Friday. The stock’s 50 day simple moving average is $84.77 and its two-hundred day simple moving average is $104.10. The company has a debt-to-equity ratio of 15.86, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market cap of $11.56 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 0.76 and a beta of 0.92. GoDaddy Inc. has a fifty-two week low of $73.06 and a fifty-two week high of $190.50.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, April 30th. The technology company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.07. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.26 billion. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The business’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.51 EPS. As a group, analysts expect that GoDaddy Inc. will post 7.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Mark Mccaffrey sold 17,406 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $88.99, for a total value of $1,548,959.94. Following the sale, the chief financial officer directly owned 113,003 shares of the company’s stock, valued at $10,056,136.97. The trade was a 13.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Amanpal Singh Bhutani sold 34,148 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $88.99, for a total value of $3,038,830.52. Following the completion of the sale, the chief executive officer directly owned 530,120 shares in the company, valued at approximately $47,175,378.80. This represents a 6.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 61,918 shares of company stock valued at $5,500,469. 0.93% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on GDDY shares. Piper Sandler started coverage on shares of GoDaddy in a report on Thursday, March 12th. They issued a “neutral” rating and a $93.00 price objective for the company. Barclays cut their price objective on GoDaddy from $200.00 to $118.00 and set an “overweight” rating on the stock in a research report on Thursday, February 26th. Citigroup cut their price objective on GoDaddy from $195.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Benchmark cut their price objective on GoDaddy from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. Finally, JPMorgan Chase & Co. cut their price objective on GoDaddy from $167.00 to $154.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, GoDaddy currently has an average rating of “Moderate Buy” and a consensus price target of $120.57.

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.