GoDaddy Inc. $GDDY Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd cut its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 8.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 69,385 shares of the technology company’s stock after selling 6,814 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in GoDaddy were worth $8,609,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Coldstream Capital Management Inc. grew its position in GoDaddy by 4.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,887 shares of the technology company’s stock valued at $258,000 after buying an additional 86 shares in the last quarter. Clearstead Advisors LLC boosted its position in shares of GoDaddy by 0.9% during the 3rd 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 in the last quarter. Main Street Financial Solutions LLC boosted its position in shares of GoDaddy by 1.0% during the 2nd quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company’s stock valued at $2,185,000 after purchasing an additional 119 shares in the last quarter. Lido Advisors LLC boosted its position in shares of GoDaddy by 6.2% during the 4th quarter. Lido Advisors LLC now owns 2,083 shares of the technology company’s stock valued at $283,000 after purchasing an additional 121 shares in the last quarter. Finally, Martin Capital Advisors LLP boosted its position in shares of GoDaddy by 1.5% during the 4th quarter. Martin Capital Advisors LLP now owns 9,082 shares of the technology company’s stock valued at $1,127,000 after purchasing an additional 130 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Stock Performance

Shares of GDDY opened at $76.24 on Friday. GoDaddy Inc. has a one year low of $71.59 and a one year high of $181.49. The company has a 50-day moving average of $85.45 and a two-hundred day moving average of $97.98. The stock has a market cap of $10.10 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 0.68 and a beta of 0.90. The company has a debt-to-equity ratio of 15.86, a current ratio of 0.67 and a quick ratio of 0.67.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, April 30th. The technology company reported $1.60 EPS 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 company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the company posted $1.51 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities research analysts expect that GoDaddy Inc. will post 7.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Evercore set a $95.00 price objective on shares of GoDaddy in a research report on Wednesday, February 25th. Royal Bank Of Canada reduced their price objective on shares of GoDaddy from $200.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Citigroup reduced their price objective on shares of GoDaddy from $195.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Cantor Fitzgerald reduced their price objective on shares of GoDaddy from $130.00 to $90.00 and set a “neutral” rating for the company in a research report on Wednesday, February 25th. Finally, UBS Group assumed coverage on shares of GoDaddy in a research report on Tuesday, May 5th. They set a “neutral” rating and a $100.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $120.57.

Insider Activity

In other GoDaddy news, CAO Phontip Palitwanon sold 542 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total value of $48,704.12. Following the completion of the transaction, the chief accounting officer directly owned 19,995 shares in the company, valued at $1,796,750.70. This trade represents a 2.64% decrease in their ownership of the stock. The sale was disclosed in a 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, CEO Amanpal Singh Bhutani sold 8,373 shares of the firm’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 completion of the transaction, the chief executive officer owned 521,747 shares of the company’s stock, valued at approximately $46,884,185.42. The trade was 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. In the last three months, insiders have sold 16,751 shares of company stock valued at $1,480,228. Corporate 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.