Empowered Funds LLC Reduces Position in GoDaddy Inc. $GDDY

Empowered Funds LLC reduced its position in GoDaddy Inc. (NYSE:GDDY) by 75.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,537 shares of the technology company’s stock after selling 77,106 shares during the quarter. Empowered Funds LLC’s holdings in GoDaddy were worth $2,111,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its position in GoDaddy by 5.7% in the 4th quarter. BNP Paribas Financial Markets now owns 945,202 shares of the technology company’s stock valued at $117,281,000 after acquiring an additional 50,959 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in shares of GoDaddy during the fourth quarter valued at $9,303,000. Swiss National Bank boosted its stake in shares of GoDaddy by 4.5% during the first quarter. Swiss National Bank now owns 396,500 shares of the technology company’s stock valued at $32,779,000 after purchasing an additional 17,100 shares during the period. Renaissance Technologies LLC boosted its stake in shares of GoDaddy by 27.0% during the first quarter. Renaissance Technologies LLC now owns 553,300 shares of the technology company’s stock valued at $45,741,000 after purchasing an additional 117,800 shares during the period. Finally, Swedbank AB increased its stake 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 buying an additional 524,811 shares during the period. Institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Performance

Shares of NYSE:GDDY opened at $90.59 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.63 and a debt-to-equity ratio of 561.10. The company has a market capitalization of $11.99 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 0.82 and a beta of 0.90. The firm has a 50 day moving average of $86.81 and a 200 day moving average of $88.14. GoDaddy Inc. has a 52 week low of $71.59 and a 52 week high of $155.90.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, July 30th. The technology company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.69 by $0.14. GoDaddy had a return on equity of 660.96% and a net margin of 17.83%.The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the previous year, the company posted $1.41 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, sell-side analysts predict that GoDaddy Inc. will post 7.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of GoDaddy in a research report on Tuesday, June 16th. B. Riley Financial lowered their price target on GoDaddy from $190.00 to $170.00 and set a “buy” rating for the company in a report on Friday, July 31st. Benchmark lowered their price target on GoDaddy from $185.00 to $140.00 and set a “buy” rating for the company in a report on Friday, July 31st. Cantor Fitzgerald restated a “neutral” rating and set a $90.00 price objective on shares of GoDaddy in a report on Friday, July 31st. Finally, William Blair cut GoDaddy from an “outperform” rating to a “market perform” rating in a report on Friday, July 31st. Nine analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $110.33.

Trending Headlines about GoDaddy

Here are the key news stories impacting GoDaddy this week:

• Positive Sentiment: Recent earnings exceeded expectations. GoDaddy reported quarterly EPS of $1.83 versus the $1.69 consensus estimate, while revenue reached $1.30 billion, ahead of forecasts and up 6.6% year over year. Analysts’ average price target of approximately $110.33 remains above the current trading range, suggesting potential upside if concerns ease. GoDaddy earnings and analyst data
• Neutral Sentiment: CEO stock sale was disclosed. Amanpal Singh Bhutani sold 4,500 shares for approximately $374,000, reducing his direct holdings by 0.86%. Because the transaction occurred under a pre-arranged Rule 10b5-1 plan and left him with more than 517,000 shares, it is a limited signal of management’s current outlook. SEC insider trading filing
• Negative Sentiment: Law firms announced investigations into possible securities-law violations. Kaplan Fox and Rosen Law Firm are seeking information from GoDaddy investors regarding allegations that the company may have issued materially misleading business information. The announcements do not establish wrongdoing, but they raise potential litigation, reputational and disclosure risks and could increase volatility. Rosen Law Firm investigation Kaplan Fox investigation
• Negative Sentiment: Analysts have become more cautious. Wedbush lowered its price target to $93 from $109, while Citigroup also reduced its expectations. Other recent actions included rating downgrades or moves to more neutral stances, potentially weighing on investor confidence despite the broader “Moderate Buy” consensus. Wedbush forecast Citigroup expectations

Insider Activity

In other news, Director Sigal Zarmi sold 350 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $87.84, for a total transaction of $30,744.00. Following the transaction, the director directly owned 5,708 shares of the company’s stock, valued at approximately $501,390.72. This represents a 5.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Mccaffrey sold 3,958 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total value of $355,665.88. Following the sale, the chief financial officer owned 109,228 shares of the company’s stock, valued at approximately $9,815,228.08. This represents a 3.50% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 21,251 shares of company stock worth $1,854,403. Insiders own 0.93% of the company’s stock.

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.