Delta Global Management LP Acquires 7,586 Shares of GoDaddy Inc. $GDDY

Delta Global Management LP increased its stake in GoDaddy Inc. (NYSE:GDDY) by 38.7% during the first quarter, according to its most recent filing with the SEC. The fund owned 27,210 shares of the technology company’s stock after buying an additional 7,586 shares during the quarter. Delta Global Management LP’s holdings in GoDaddy were worth $2,249,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in GDDY. WCM Investment Management LLC raised its position in GoDaddy by 1.0% in the first quarter. WCM Investment Management LLC now owns 3,314,456 shares of the technology company’s stock worth $270,924,000 after acquiring an additional 33,509 shares during the period. JPMorgan Chase & Co. boosted its stake in 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 acquiring an additional 319,515 shares during the last quarter. AQR Capital Management LLC grew its position in shares of GoDaddy by 117.5% during the 4th quarter. AQR Capital Management LLC now owns 2,989,931 shares of the technology company’s stock valued at $370,991,000 after acquiring an additional 1,615,005 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of GoDaddy by 2.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,821,379 shares of the technology company’s stock valued at $350,077,000 after acquiring an additional 56,086 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of GoDaddy by 9.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,733,028 shares of the technology company’s stock worth $339,116,000 after purchasing an additional 235,981 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

Trending Headlines about GoDaddy

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

GoDaddy Stock Up 6.2%

GoDaddy stock opened at $93.08 on Friday. The firm has a 50 day simple moving average of $86.03 and a 200 day simple moving average of $89.47. 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 $168.13. The firm has a market capitalization of $12.32 billion, a price-to-earnings ratio of 14.73, a P/E/G ratio of 0.84 and a beta of 0.89.

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

Analyst Ratings Changes

A number of research firms recently commented on GDDY. UBS Group started coverage on shares of GoDaddy in a report on Tuesday, May 5th. They issued a “neutral” rating and a $100.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on GoDaddy from $154.00 to $124.00 and set an “overweight” rating for the company in a report on Thursday, June 18th. Wells Fargo & Company raised their target price on GoDaddy from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Benchmark lowered their target price on GoDaddy from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of GoDaddy in a research report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, GoDaddy currently has a consensus rating of “Moderate Buy” and an average target price of $118.43.

Insider Buying and Selling

In other GoDaddy news, CAO Phontip Palitwanon sold 542 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 value of $48,704.12. Following the completion of the transaction, the chief accounting officer owned 19,995 shares in the company, valued at $1,796,750.70. This trade represents a 2.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, 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 transaction, the director directly owned 5,708 shares of the company’s stock, valued at $501,390.72. The trade was a 5.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders 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.