Goodnow Investment Group LLC Purchases 12,665 Shares of GoDaddy Inc. $GDDY

Goodnow Investment Group LLC grew its position in GoDaddy Inc. (NYSE:GDDY) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 741,749 shares of the technology company’s stock after purchasing an additional 12,665 shares during the period. GoDaddy comprises about 8.6% of Goodnow Investment Group LLC’s portfolio, making the stock its 2nd largest position. Goodnow Investment Group LLC owned approximately 0.55% of GoDaddy worth $92,036,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Rachor Investment Advisory Services LLC acquired a new stake in GoDaddy in the fourth quarter worth $25,000. Activest Wealth Management raised its holdings in GoDaddy by 6,600.0% in the fourth quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock worth $25,000 after purchasing an additional 198 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in GoDaddy in the fourth quarter worth $25,000. Brown Brothers Harriman & Co. raised its holdings in GoDaddy by 145.6% in the third quarter. Brown Brothers Harriman & Co. now owns 253 shares of the technology company’s stock worth $35,000 after purchasing an additional 150 shares during the period. Finally, Harbour Investments Inc. raised its holdings in GoDaddy by 191.0% in the fourth quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock worth $32,000 after purchasing an additional 170 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Sigal Zarmi sold 350 shares of GoDaddy stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $87.84, for a total value of $30,744.00. Following the completion of the transaction, the director owned 5,708 shares of the company’s stock, valued at $501,390.72. This trade represents a 5.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 dated Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total transaction of $48,704.12. Following the completion of the transaction, the chief accounting officer directly owned 19,995 shares of the company’s stock, valued at approximately $1,796,750.70. This trade represents a 2.64% decrease in their position. 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. In the last 90 days, insiders sold 16,751 shares of company stock worth $1,480,228. Insiders own 0.93% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GDDY shares. Citigroup cut their target price on shares of GoDaddy from $195.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Raymond James Financial reiterated a “strong-buy” rating and issued a $100.00 target price on shares of GoDaddy in a report on Wednesday, February 25th. Cantor Fitzgerald dropped their price objective on shares of GoDaddy from $130.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. JPMorgan Chase & Co. dropped their price objective on shares of GoDaddy from $167.00 to $154.00 and set an “overweight” rating on the stock in a report on Friday, May 1st. Finally, Piper Sandler started coverage on GoDaddy in a research report on Thursday, March 12th. They set a “neutral” rating and a $93.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $120.57.

GoDaddy Stock Up 1.5%

Shares of GDDY stock opened at $77.35 on Tuesday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 15.86. GoDaddy Inc. has a 1 year low of $71.59 and a 1 year high of $181.49. The firm’s fifty day moving average price is $85.36 and its two-hundred day moving average price is $97.44. The firm has a market capitalization of $10.24 billion, a P/E ratio of 12.24, a PEG ratio of 0.69 and a beta of 0.90.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the business earned $1.51 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. On average, equities analysts predict that GoDaddy Inc. will post 7.14 EPS for the current fiscal year.

GoDaddy Company 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.