Entropy Technologies LP Sells 23,423 Shares of GoDaddy Inc. $GDDY

Entropy Technologies LP trimmed its holdings in GoDaddy Inc. (NYSE:GDDY) by 53.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,572 shares of the technology company’s stock after selling 23,423 shares during the period. Entropy Technologies LP’s holdings in GoDaddy were worth $1,701,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of GoDaddy during the fourth quarter worth about $25,000. Rachor Investment Advisory Services LLC acquired a new position in shares of GoDaddy in the 4th quarter valued at approximately $25,000. Activest Wealth Management grew its position in shares of GoDaddy by 6,600.0% in the 4th quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock valued at $25,000 after purchasing an additional 198 shares during the period. International Assets Investment Management LLC increased its stake in GoDaddy by 93.8% during the 1st quarter. International Assets Investment Management LLC now owns 372 shares of the technology company’s stock worth $30,000 after purchasing an additional 180 shares in the last quarter. Finally, Harbour Investments Inc. increased its stake in GoDaddy by 191.0% during the 4th quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock worth $32,000 after purchasing an additional 170 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GDDY. UBS Group started coverage on shares of GoDaddy in a report on Tuesday, May 5th. They set a “neutral” rating and a $100.00 target price on the stock. 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 report on Friday, May 1st. JPMorgan Chase & Co. dropped their price objective on shares of GoDaddy from $154.00 to $124.00 and set an “overweight” rating on the stock in a report on Thursday, June 18th. Benchmark cut their price objective on shares of 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 reaffirmed a “hold (c-)” rating on shares of GoDaddy in a research note on Tuesday, June 16th. 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $118.43.

GoDaddy Trading Up 3.5%

NYSE GDDY opened at $96.45 on Tuesday. The stock has a market capitalization of $12.77 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 0.84 and a beta of 0.89. The stock’s 50 day moving average price is $86.13 and its two-hundred day moving average price is $89.10. 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 $167.09.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.07. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.26 billion. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.51 EPS. As a group, 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 GoDaddy news, Director Sigal Zarmi sold 350 shares of GoDaddy stock in a transaction on Monday, June 1st. The shares were sold at an average price of $87.84, for a total value of $30,744.00. Following the sale, the director directly owned 5,708 shares in the company, valued at approximately $501,390.72. The trade was a 5.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Amanpal Singh Bhutani sold 8,373 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total transaction of $752,397.78. Following the sale, the chief executive officer directly owned 521,747 shares in the company, valued at $46,884,185.42. This trade represents a 1.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 16,751 shares of company stock worth $1,480,228. Company 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.