SG Americas Securities LLC Has $31.19 Million Stock Holdings in GoDaddy Inc. $GDDY

SG Americas Securities LLC lifted its position in shares of GoDaddy Inc. (NYSE:GDDY) by 78.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 251,342 shares of the technology company’s stock after purchasing an additional 110,800 shares during the quarter. SG Americas Securities LLC owned 0.19% of GoDaddy worth $31,187,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hemington Wealth Management lifted its holdings in GoDaddy by 85.9% during the third quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock worth $25,000 after acquiring an additional 85 shares in the last quarter. Root Financial Partners LLC acquired a new position in GoDaddy in the third quarter valued at about $31,000. Brown Brothers Harriman & Co. increased its holdings in shares of 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 acquiring an additional 150 shares in the last quarter. Rossby Financial LCC increased its holdings in shares of GoDaddy by 125.4% in the third quarter. Rossby Financial LCC now owns 284 shares of the technology company’s stock worth $38,000 after acquiring an additional 158 shares in the last quarter. Finally, Bayforest Capital Ltd raised its position in shares of GoDaddy by 141.5% during the third quarter. Bayforest Capital Ltd now owns 355 shares of the technology company’s stock worth $49,000 after purchasing an additional 208 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GDDY. Benchmark cut their price objective on GoDaddy from $240.00 to $210.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Piper Sandler initiated coverage on GoDaddy in a research note on Thursday, March 12th. They set a “neutral” rating and a $93.00 target price for the company. Evercore set a $95.00 target price on shares of GoDaddy in a report on Wednesday, February 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of GoDaddy in a report on Wednesday, January 28th. Finally, Cantor Fitzgerald reduced their price target on shares of GoDaddy from $130.00 to $90.00 and set a “neutral” rating for the company in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $125.57.

GoDaddy Stock Up 1.5%

GDDY stock opened at $81.52 on Thursday. The company has a debt-to-equity ratio of 17.50, a current ratio of 0.61 and a quick ratio of 0.61. The stock has a market capitalization of $10.87 billion, a P/E ratio of 13.08, a P/E/G ratio of 0.71 and a beta of 0.96. The business has a 50-day moving average of $92.48 and a 200-day moving average of $117.29. GoDaddy Inc. has a fifty-two week low of $73.06 and a fifty-two week high of $193.55.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Tuesday, February 24th. The technology company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.22. The business had revenue of $1.27 billion during 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%.GoDaddy’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the company earned $1.36 earnings per share. On average, sell-side analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Mark Mccaffrey sold 17,406 shares of GoDaddy stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total value of $1,548,959.94. Following the completion of the transaction, the chief financial officer owned 113,003 shares of the company’s stock, valued at $10,056,136.97. This trade represents a 13.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Amanpal Singh Bhutani sold 34,148 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $88.99, for a total transaction of $3,038,830.52. Following the transaction, the chief executive officer owned 530,120 shares in the company, valued at $47,175,378.80. This represents a 6.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 61,918 shares of company stock valued at $5,500,469 over the last three months. Corporate insiders own 0.70% of the company’s stock.

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.