SG Americas Securities LLC Acquires 110,800 Shares of GoDaddy Inc. $GDDY

SG Americas Securities LLC increased its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 78.8% during the fourth quarter, Holdings Channel reports. The fund owned 251,342 shares of the technology company’s stock after acquiring an additional 110,800 shares during the quarter. SG Americas Securities LLC’s holdings in GoDaddy were worth $31,187,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Hemington Wealth Management lifted its position in GoDaddy by 85.9% during the third quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock worth $25,000 after acquiring an additional 85 shares during the last quarter. Coldstream Capital Management Inc. lifted its position in GoDaddy by 4.8% during the third quarter. Coldstream Capital Management Inc. now owns 1,887 shares of the technology company’s stock worth $258,000 after acquiring an additional 86 shares during the last quarter. MAI Capital Management boosted its holdings in shares of GoDaddy by 9.7% during the second quarter. MAI Capital Management now owns 1,127 shares of the technology company’s stock worth $203,000 after acquiring an additional 100 shares during the period. Clearstead Advisors LLC grew its position in shares of GoDaddy by 0.9% in the third quarter. Clearstead Advisors LLC now owns 12,324 shares of the technology company’s stock valued at $1,686,000 after purchasing an additional 104 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. grew its position in shares of GoDaddy by 2.1% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,581 shares of the technology company’s stock valued at $764,000 after purchasing an additional 113 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Performance

NYSE GDDY opened at $81.52 on Thursday. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 17.50. The firm has a market capitalization of $10.87 billion, a price-to-earnings ratio of 13.08, a P/E/G ratio of 0.71 and a beta of 0.96. The firm’s 50 day simple moving average is $92.48 and its 200 day simple moving average is $117.29. GoDaddy Inc. has a 1 year low of $73.06 and a 1 year high of $193.55.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Tuesday, February 24th. The technology company reported $1.80 EPS for the quarter, beating 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 business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the business earned $1.36 earnings per share. The company’s revenue was up 6.8% on a year-over-year basis. As a group, research analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on GDDY. Jefferies Financial Group dropped their price target on GoDaddy from $140.00 to $100.00 and set a “hold” rating for the company in a report on Monday, February 23rd. UBS Group decreased their price objective on GoDaddy from $145.00 to $105.00 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. Evercore set a $95.00 price objective on GoDaddy in a research report on Wednesday, February 25th. Cantor Fitzgerald dropped their target price on GoDaddy from $130.00 to $90.00 and set a “neutral” rating for the company in a report on Wednesday, February 25th. Finally, Piper Sandler began coverage on shares of GoDaddy in a research report on Thursday, March 12th. They set a “neutral” rating and a $93.00 target price on the stock. One investment 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’s stock. According to MarketBeat, GoDaddy currently has an average rating of “Moderate Buy” and an average price target of $125.57.

Insiders Place Their Bets

In related news, CEO Amanpal Singh Bhutani sold 34,148 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total value of $3,038,830.52. Following the completion of the transaction, the chief executive officer owned 530,120 shares of the company’s stock, valued at $47,175,378.80. This represents a 6.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Mccaffrey sold 17,406 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total value of $1,548,959.94. Following the completion of the transaction, the chief financial officer owned 113,003 shares of the company’s stock, valued at $10,056,136.97. The trade was a 13.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 61,918 shares of company stock worth $5,500,469 in the last ninety days. Insiders own 0.70% of the company’s stock.

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.