Brevan Howard Capital Management LP Raises Holdings in GoDaddy Inc. $GDDY

Brevan Howard Capital Management LP boosted its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 32.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,467 shares of the technology company’s stock after acquiring an additional 10,782 shares during the quarter. Brevan Howard Capital Management LP’s holdings in GoDaddy were worth $6,084,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of GDDY. Hemington Wealth Management boosted its position in GoDaddy by 85.9% in the 3rd quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock worth $25,000 after purchasing an additional 85 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in shares of GoDaddy by 5.6% during the 2nd quarter. Coldstream Capital Management Inc. now owns 1,801 shares of the technology company’s stock valued at $324,000 after purchasing an additional 96 shares in the last quarter. MAI Capital Management increased its holdings in shares of GoDaddy by 9.7% during the 2nd quarter. MAI Capital Management now owns 1,127 shares of the technology company’s stock valued at $203,000 after purchasing an additional 100 shares in the last quarter. Clearstead Advisors LLC lifted its stake in shares of GoDaddy by 0.9% in 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 during the period. Finally, Tokio Marine Asset Management Co. Ltd. boosted its holdings in GoDaddy by 2.1% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,581 shares of the technology company’s stock worth $764,000 after buying an additional 113 shares in the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

GoDaddy Price Performance

NYSE:GDDY opened at $81.18 on Monday. The stock has a 50 day moving average of $97.46 and a two-hundred day moving average of $120.63. GoDaddy Inc. has a 12 month low of $73.06 and a 12 month high of $193.55. The firm has a market cap of $10.83 billion, a P/E ratio of 13.03, a price-to-earnings-growth ratio of 0.72 and a beta of 0.96. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 17.50.

GoDaddy (NYSE:GDDY) last released its earnings results on Tuesday, February 24th. The technology company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.22. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. GoDaddy had a return on equity of 369.00% and a net margin of 17.67%.The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.36 earnings per share. On average, analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insider Transactions at GoDaddy

In other GoDaddy news, CAO Phontip Palitwanon sold 1,310 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $90.15, for a total value of $118,096.50. Following the transaction, the chief accounting officer owned 20,349 shares in the company, valued at approximately $1,834,462.35. This trade represents a 6.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Amanpal Singh Bhutani sold 34,148 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $88.99, for a total value of $3,038,830.52. Following the transaction, the chief executive officer owned 530,120 shares in the company, valued at approximately $47,175,378.80. This represents a 6.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 61,918 shares of company stock valued at $5,500,469 in the last 90 days. 0.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on GDDY shares. Royal Bank Of Canada dropped their price target on shares of GoDaddy from $200.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Wells Fargo & Company lowered their target price on shares of GoDaddy from $145.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 25th. Evercore set a $95.00 target price on GoDaddy in a research report on Wednesday, February 25th. Barclays cut their price target on GoDaddy from $200.00 to $118.00 and set an “overweight” rating for the company in a research note on Thursday, February 26th. Finally, Piper Sandler started coverage on GoDaddy in a research report on Thursday. They issued a “neutral” rating and a $93.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and an average target price of $125.57.

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.