GAMMA Investing LLC Has $31,000 Stake in GoDaddy Inc. (NYSE:GDDY)

GAMMA Investing LLC raised its stake in GoDaddy Inc. (NYSE:GDDY) by 102.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 263 shares of the technology company’s stock after acquiring an additional 133 shares during the quarter. GAMMA Investing LLC’s holdings in GoDaddy were worth $31,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GDDY. Paralel Advisors LLC increased its holdings in GoDaddy by 1.1% in the 3rd quarter. Paralel Advisors LLC now owns 24,607 shares of the technology company’s stock worth $1,833,000 after purchasing an additional 277 shares in the last quarter. Kestra Advisory Services LLC raised its position in GoDaddy by 58.0% in the third quarter. Kestra Advisory Services LLC now owns 5,289 shares of the technology company’s stock valued at $394,000 after purchasing an additional 1,942 shares during the last quarter. Invesco Ltd. raised its position in GoDaddy by 71.6% in the third quarter. Invesco Ltd. now owns 484,626 shares of the technology company’s stock valued at $36,095,000 after purchasing an additional 202,285 shares during the last quarter. Stifel Financial Corp raised its position in GoDaddy by 7.6% in the third quarter. Stifel Financial Corp now owns 59,381 shares of the technology company’s stock valued at $4,423,000 after purchasing an additional 4,190 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in GoDaddy by 259.4% in the third quarter. Federated Hermes Inc. now owns 27,286 shares of the technology company’s stock valued at $2,032,000 after purchasing an additional 19,693 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CAO Nick Daddario sold 523 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $138.09, for a total value of $72,221.07. Following the completion of the sale, the chief accounting officer now owns 22,666 shares of the company’s stock, valued at $3,129,947.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other GoDaddy news, Director Leah Sweet sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $141.59, for a total value of $141,590.00. Following the completion of the sale, the director now owns 11,317 shares of the company’s stock, valued at $1,602,374.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Nick Daddario sold 523 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $138.09, for a total value of $72,221.07. Following the completion of the transaction, the chief accounting officer now owns 22,666 shares in the company, valued at approximately $3,129,947.94. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,195 shares of company stock valued at $6,237,029. Company insiders own 0.61% of the company’s stock.

GoDaddy Trading Down 1.0 %

NYSE GDDY opened at $139.80 on Thursday. The business has a 50 day simple moving average of $133.95 and a 200 day simple moving average of $119.78. GoDaddy Inc. has a one year low of $69.18 and a one year high of $142.95. The stock has a market capitalization of $19.95 billion, a P/E ratio of 11.61 and a beta of 1.10. The company has a debt-to-equity ratio of 9.15, a current ratio of 0.55 and a quick ratio of 0.55.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, May 2nd. The technology company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.00 by $0.08. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Research analysts expect that GoDaddy Inc. will post 4.82 earnings per share for the current year.

Wall Street Analyst Weigh In

GDDY has been the subject of several research reports. Citigroup increased their target price on GoDaddy from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Benchmark reiterated a “buy” rating and issued a $150.00 target price on shares of GoDaddy in a research report on Wednesday, May 1st. Raymond James began coverage on GoDaddy in a research note on Wednesday, March 27th. They issued a “strong-buy” rating and a $150.00 price target for the company. B. Riley increased their price target on GoDaddy from $124.00 to $142.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Finally, Evercore ISI increased their price target on GoDaddy from $110.00 to $135.00 and gave the company an “in-line” rating in a research note on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $149.92.

About GoDaddy

GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.