Distillate Capital Partners LLC Raises Stock Position in GoDaddy Inc. (NYSE:GDDY)

Distillate Capital Partners LLC increased its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 83,689.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 107,250 shares of the technology company’s stock after buying an additional 107,122 shares during the period. Distillate Capital Partners LLC owned about 0.08% of GoDaddy worth $14,984,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Plato Investment Management Ltd increased its position in shares of GoDaddy by 2,471.0% in the 1st quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock valued at $769,000 after purchasing an additional 6,227 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of GoDaddy by 20.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock valued at $25,469,000 after acquiring an additional 35,703 shares during the last quarter. Forsta AP Fonden raised its position in shares of GoDaddy by 87.5% during the 1st quarter. Forsta AP Fonden now owns 84,000 shares of the technology company’s stock worth $9,969,000 after acquiring an additional 39,200 shares in the last quarter. Swedbank AB boosted its holdings in GoDaddy by 3.5% in the second quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock valued at $21,425,000 after purchasing an additional 5,247 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in GoDaddy by 866.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,335 shares of the technology company’s stock worth $1,227,000 after purchasing an additional 9,266 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $166.91, for a total value of $500,730.00. Following the sale, the chief executive officer now directly owns 358,773 shares of the company’s stock, valued at approximately $59,882,801.43. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total value of $500,730.00. Following the transaction, the chief executive officer now owns 358,773 shares in the company, valued at approximately $59,882,801.43. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $139.79, for a total value of $559,160.00. Following the sale, the chief operating officer now directly owns 192,632 shares of the company’s stock, valued at approximately $26,928,027.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,744 shares of company stock worth $4,816,386. 0.61% of the stock is currently owned by insiders.

GoDaddy Trading Down 1.3 %

NYSE:GDDY opened at $158.52 on Tuesday. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 24.13. The company has a market capitalization of $22.62 billion, a PE ratio of 13.17 and a beta of 1.13. The stock has a fifty day simple moving average of $154.59 and a 200-day simple moving average of $139.42. GoDaddy Inc. has a 52-week low of $71.15 and a 52-week high of $167.65.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.63 EPS. On average, equities research analysts expect that GoDaddy Inc. will post 5.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GDDY has been the subject of a number of research reports. Raymond James boosted their price target on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. lifted their target price on shares of GoDaddy from $136.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, May 29th. Barclays lifted their price objective on shares of GoDaddy from $150.00 to $165.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Cantor Fitzgerald reiterated a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a research note on Monday. Finally, Benchmark raised their price target on GoDaddy from $170.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GoDaddy currently has an average rating of “Moderate Buy” and an average target price of $165.00.

GoDaddy Profile

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.