Delta Global Management LP Makes New Investment in GoDaddy Inc. $GDDY

Delta Global Management LP bought a new position in GoDaddy Inc. (NYSE:GDDY) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,270 shares of the technology company’s stock, valued at approximately $2,363,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GDDY. Hemington Wealth Management lifted its position in GoDaddy by 85.9% in the 3rd quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock valued at $25,000 after acquiring an additional 85 shares in the last quarter. Root Financial Partners LLC purchased a new stake in GoDaddy during the 3rd quarter valued at $31,000. Brown Brothers Harriman & Co. increased its holdings in shares of GoDaddy by 145.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 253 shares of the technology company’s stock worth $35,000 after purchasing an additional 150 shares in the last quarter. Rossby Financial LCC increased its holdings in shares of GoDaddy by 125.4% in the 3rd quarter. Rossby Financial LCC now owns 284 shares of the technology company’s stock worth $38,000 after purchasing an additional 158 shares in the last quarter. Finally, Bayforest Capital Ltd raised its stake in shares of GoDaddy by 141.5% in 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 last quarter. Institutional investors own 90.28% of the company’s stock.

GoDaddy Price Performance

Shares of GoDaddy stock opened at $82.16 on Tuesday. GoDaddy Inc. has a one year low of $73.06 and a one year high of $193.55. The stock’s fifty day moving average is $96.73 and its 200 day moving average is $120.16. The stock has a market cap of $10.96 billion, a P/E ratio of 13.19, a P/E/G ratio of 0.72 and a beta of 0.96. The company has a debt-to-equity ratio of 17.50, a quick ratio of 0.61 and a current ratio of 0.61.

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 company 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%.GoDaddy’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.36 earnings per share. Sell-side analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Buying and Selling

In other GoDaddy news, CFO Mark Mccaffrey sold 17,406 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total transaction of $1,548,959.94. Following the sale, the chief financial officer owned 113,003 shares in the company, valued at approximately $10,056,136.97. This trade represents a 13.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amanpal Singh Bhutani sold 34,148 shares of GoDaddy stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total transaction of $3,038,830.52. Following the transaction, the chief executive officer directly owned 530,120 shares in the company, valued at $47,175,378.80. This represents a 6.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 61,918 shares of company stock valued at $5,500,469 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on GDDY shares. Citigroup lowered their price target on GoDaddy from $195.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Barclays decreased their target price on GoDaddy from $200.00 to $118.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. Cantor Fitzgerald lowered their target price on shares of GoDaddy from $130.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GoDaddy in a report on Wednesday, January 28th. Finally, Morgan Stanley reduced their price target on shares of GoDaddy from $159.00 to $145.00 and set an “equal weight” rating for the company in a research note on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $125.57.

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.