Arrowstreet Capital Limited Partnership Sells 143,940 Shares of GoDaddy Inc. $GDDY

Arrowstreet Capital Limited Partnership cut its holdings in GoDaddy Inc. (NYSE:GDDY) by 5.1% during the 1st quarter, HoldingsChannel reports. The fund owned 2,677,439 shares of the technology company’s stock after selling 143,940 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in GoDaddy were worth $221,344,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. WCM Investment Management LLC raised its stake in GoDaddy by 1.0% in the 1st quarter. WCM Investment Management LLC now owns 3,314,456 shares of the technology company’s stock worth $270,924,000 after purchasing an additional 33,509 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of GoDaddy by 11.0% in the fourth quarter. JPMorgan Chase & Co. now owns 3,216,382 shares of the technology company’s stock valued at $399,089,000 after buying an additional 319,515 shares during the period. AQR Capital Management LLC boosted its stake in shares of GoDaddy by 117.5% in the fourth quarter. AQR Capital Management LLC now owns 2,989,931 shares of the technology company’s stock valued at $370,991,000 after buying an additional 1,615,005 shares during the period. Price T Rowe Associates Inc. MD grew its position in GoDaddy by 9.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,733,028 shares of the technology company’s stock worth $339,116,000 after buying an additional 235,981 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in GoDaddy by 2.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,403,902 shares of the technology company’s stock valued at $432,847,000 after acquiring an additional 54,438 shares in the last quarter. 90.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. UBS Group assumed coverage on GoDaddy in a research report on Tuesday, May 5th. They set a “neutral” rating and a $100.00 target price for the company. Benchmark decreased their price target on GoDaddy from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. Wells Fargo & Company increased their price objective on shares of GoDaddy from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Weiss Ratings reissued a “hold (c-)” rating on shares of GoDaddy in a report on Tuesday, June 16th. Finally, JPMorgan Chase & Co. dropped their target price on shares of GoDaddy from $154.00 to $124.00 and set an “overweight” rating for the company in a research report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.43.

GoDaddy Price Performance

Shares of GDDY opened at $93.08 on Friday. GoDaddy Inc. has a 12-month low of $71.59 and a 12-month high of $168.13. The business has a 50-day simple moving average of $86.03 and a two-hundred day simple moving average of $89.47. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 15.86. The stock has a market cap of $12.32 billion, a PE ratio of 14.73, a PEG ratio of 0.79 and a beta of 0.89.

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

Insider Buying and Selling at GoDaddy

In other news, Director Sigal Zarmi sold 350 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $87.84, for a total transaction of $30,744.00. Following the completion of the transaction, the director owned 5,708 shares of the company’s stock, valued at approximately $501,390.72. This trade represents a 5.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Phontip Palitwanon sold 542 shares of GoDaddy stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total transaction 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. This trade represents a 2.64% 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. Insiders have sold 16,751 shares of company stock worth $1,480,228 in the last 90 days. Corporate insiders own 0.93% of the company’s stock.

More GoDaddy News

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

About GoDaddy

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.