Abacus FCF Advisors LLC Invests $10.30 Million in GoDaddy Inc. (NYSE:GDDY)

Abacus FCF Advisors LLC acquired a new position in shares of GoDaddy Inc. (NYSE:GDDY) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 57,175 shares of the technology company’s stock, valued at approximately $10,300,000. GoDaddy makes up approximately 1.6% of Abacus FCF Advisors LLC’s investment portfolio, making the stock its 27th largest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Quent Capital LLC grew its position in shares of GoDaddy by 4.4% during the fourth quarter. Quent Capital LLC now owns 1,259 shares of the technology company’s stock worth $248,000 after buying an additional 53 shares in the last quarter. Advisors Capital Management LLC grew its position in shares of GoDaddy by 0.9% during the fourth quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company’s stock worth $1,223,000 after buying an additional 55 shares in the last quarter. BNP Paribas grew its position in shares of GoDaddy by 2.9% during the fourth quarter. BNP Paribas now owns 2,111 shares of the technology company’s stock worth $417,000 after buying an additional 59 shares in the last quarter. City Holding Co. grew its position in shares of GoDaddy by 30.0% during the first quarter. City Holding Co. now owns 260 shares of the technology company’s stock worth $47,000 after buying an additional 60 shares in the last quarter. Finally, Lake Street Advisors Group LLC grew its position in shares of GoDaddy by 4.7% during the fourth quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company’s stock worth $283,000 after buying an additional 64 shares in the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $174.21, for a total transaction of $174,210.00. Following the completion of the sale, the chief operating officer now owns 257,949 shares in the company, valued at $44,937,295.29. This represents a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Brian Sharples sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total value of $89,925.00. Following the sale, the director now owns 21,621 shares of the company’s stock, valued at $3,888,536.85. This trade represents a 2.26% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,459 shares of company stock worth $12,214,374. 0.61% of the stock is owned by insiders.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $179.76 on Tuesday. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. GoDaddy Inc. has a twelve month low of $135.73 and a twelve month high of $216.00. The stock has a 50 day moving average of $179.37 and a two-hundred day moving average of $189.24. The stock has a market cap of $25.61 billion, a P/E ratio of 27.87 and a beta of 1.07.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.08). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the firm posted $2.76 EPS. GoDaddy’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, research analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

GDDY has been the subject of a number of analyst reports. Wall Street Zen downgraded GoDaddy from a “buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Jefferies Financial Group lowered their price target on GoDaddy from $200.00 to $185.00 and set a “hold” rating for the company in a report on Monday, April 7th. JPMorgan Chase & Co. upped their price target on GoDaddy from $231.00 to $240.00 and gave the company an “overweight” rating in a report on Tuesday, May 6th. Citigroup lowered their price target on GoDaddy from $260.00 to $234.00 and set a “buy” rating for the company in a report on Friday, April 25th. Finally, Morgan Stanley lowered their price target on GoDaddy from $228.00 to $206.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $214.86.

GoDaddy 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.