Rice Hall James & Associates LLC Grows Position in GoDaddy Inc. $GDDY

Rice Hall James & Associates LLC grew its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 1,218.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 319,453 shares of the technology company’s stock after acquiring an additional 295,218 shares during the quarter. GoDaddy comprises 1.5% of Rice Hall James & Associates LLC’s investment portfolio, making the stock its 19th largest position. Rice Hall James & Associates LLC’s holdings in GoDaddy were worth $26,409,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. BNP Paribas Financial Markets increased its holdings in shares of GoDaddy by 5.7% in the 4th quarter. BNP Paribas Financial Markets now owns 945,202 shares of the technology company’s stock worth $117,281,000 after buying an additional 50,959 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in shares of GoDaddy during the 4th quarter worth $9,303,000. Swedbank AB lifted its holdings in shares of GoDaddy by 433.9% during the 4th quarter. Swedbank AB now owns 645,754 shares of the technology company’s stock worth $80,125,000 after acquiring an additional 524,811 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in GoDaddy by 22,341.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 117,142 shares of the technology company’s stock worth $14,535,000 after acquiring an additional 116,620 shares in the last quarter. Finally, Norges Bank purchased a new position in GoDaddy in the fourth quarter worth $250,020,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Analysts Set New Price Targets

GDDY has been the topic of a number of research reports. JPMorgan Chase & Co. lowered their price target on GoDaddy from $154.00 to $124.00 and set an “overweight” rating on the stock in a research report on Thursday, June 18th. UBS Group initiated coverage on GoDaddy in a report on Tuesday, May 5th. They issued a “neutral” rating and a $100.00 price objective for the company. Wells Fargo & Company increased their price objective on GoDaddy from $77.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Benchmark reduced 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, Weiss Ratings reissued a “hold (c-)” rating on shares of GoDaddy in a report on Tuesday, June 16th. 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $118.43.

Insider Buying and Selling

In related news, CFO Mark Mccaffrey sold 3,958 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total transaction of $355,665.88. Following the completion of the sale, the chief financial officer directly owned 109,228 shares in the company, valued at $9,815,228.08. This represents a 3.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Phontip Palitwanon sold 542 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total value of $48,704.12. Following the transaction, the chief accounting officer owned 19,995 shares in the company, valued at approximately $1,796,750.70. The trade was a 2.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 16,751 shares of company stock worth $1,480,228 in the last ninety days. Corporate insiders own 0.93% of the company’s stock.

GoDaddy Price Performance

GDDY stock opened at $93.08 on Friday. The company has a debt-to-equity ratio of 15.86, a quick ratio of 0.67 and a current ratio of 0.67. GoDaddy Inc. has a 52 week low of $71.59 and a 52 week high of $168.13. The firm’s fifty day moving average is $86.03 and its 200 day moving average is $89.47. The firm has a market cap of $12.32 billion, a P/E ratio of 14.73, a P/E/G ratio of 0.84 and a beta of 0.89.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.07. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the firm posted $1.51 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. Research analysts predict that GoDaddy Inc. will post 7.15 earnings per share for the current year.

GoDaddy News Roundup

Here are the key news stories impacting GoDaddy this week:

• Positive Sentiment: Several recent articles highlight GoDaddy’s valuation as potentially attractive after its sharp pullback, with some coverage arguing the stock may be mispriced and pointing to improving long-term fundamentals. GoDaddy (NYSE:GDDY) Looks Mispriced After Its Steep Drop
• Positive Sentiment: Investor interest is also being supported by expectations for upcoming earnings, with some analysts still projecting revenue and earnings growth ahead of GoDaddy’s next report. GoDaddy (GDDY) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
• Positive Sentiment: GoDaddy has also drawn attention for its developer-platform push, which some articles frame as a potential catalyst if the strategy expands the company’s growth opportunities. GoDaddy’s Pricing Misstep and Developer Push Could Be A Game Changer For GoDaddy (GDDY)
• Neutral Sentiment: GoDaddy released its quarterly results recently, and the company previously beat analyst estimates on earnings and revenue, which continues to anchor investor expectations heading into the next report. GoDaddy (GDDY) Launches Developer Platform As Fair Value Narrative Stays In Focus
• Negative Sentiment: Multiple law firms, including Rosen Law Firm and Kaplan Fox & Kilsheimer, announced or reiterated investigations into possible securities-law violations and potentially misleading disclosures at GoDaddy, increasing legal overhang and uncertainty for shareholders. ROSEN, TRUSTED INVESTOR COUNSEL, Encourages GoDaddy Inc. Investors to Inquire About Securities Class Action Investigation – GDDY

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.