SG Americas Securities LLC Raises Stake in GoDaddy Inc. $GDDY

SG Americas Securities LLC increased its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 52.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 140,542 shares of the technology company’s stock after purchasing an additional 48,353 shares during the quarter. SG Americas Securities LLC owned 0.10% of GoDaddy worth $19,230,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Bayforest Capital Ltd acquired a new stake in shares of GoDaddy in the second quarter worth $26,000. NewSquare Capital LLC boosted its position in GoDaddy by 170.9% during the 2nd quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock worth $27,000 after purchasing an additional 94 shares during the period. Steph & Co. acquired a new stake in GoDaddy in the 2nd quarter valued at $55,000. Mather Group LLC. purchased a new position in GoDaddy in the third quarter valued at about $61,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in GoDaddy by 252.0% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 345 shares of the technology company’s stock valued at $62,000 after purchasing an additional 247 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Price Performance

GDDY opened at $115.59 on Friday. The company has a market capitalization of $15.62 billion, a P/E ratio of 19.96, a PEG ratio of 1.07 and a beta of 0.95. The company has a 50-day moving average of $126.96 and a 200-day moving average of $142.33. The company has a debt-to-equity ratio of 41.06, a quick ratio of 0.57 and a current ratio of 0.57. GoDaddy Inc. has a 1-year low of $114.36 and a 1-year high of $216.00.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, October 30th. The technology company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. GoDaddy had a return on equity of 231.34% and a net margin of 17.01%.The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the firm earned $1.32 earnings per share. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. Equities analysts expect that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Insider Transactions at GoDaddy

In related news, CAO Phontip Palitwanon sold 2,397 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $128.44, for a total transaction of $307,870.68. Following the sale, the chief accounting officer directly owned 17,055 shares of the company’s stock, valued at approximately $2,190,544.20. This represents a 12.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 6,932 shares of GoDaddy stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total transaction of $886,880.08. Following the completion of the transaction, the chief executive officer directly owned 399,133 shares of the company’s stock, valued at approximately $51,065,076.02. This represents a 1.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 14,115 shares of company stock valued at $1,809,657 over the last 90 days. Insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GDDY. UBS Group lowered their target price on GoDaddy from $160.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GoDaddy in a research report on Friday, October 31st. Royal Bank Of Canada set a $70.00 price objective on shares of GoDaddy in a research note on Wednesday. Raymond James Financial restated a “strong-buy” rating on shares of GoDaddy in a research note on Friday, October 31st. Finally, B. Riley dropped their price target on shares of GoDaddy from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, GoDaddy currently has a consensus rating of “Moderate Buy” and a consensus price target of $167.21.

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.