Hennessy Advisors Inc. Lowers Stock Position in GoDaddy Inc. $GDDY

Hennessy Advisors Inc. cut its position in shares of GoDaddy Inc. (NYSE:GDDY) by 2.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,200 shares of the technology company’s stock after selling 300 shares during the period. Hennessy Advisors Inc.’s holdings in GoDaddy were worth $2,377,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. City Holding Co. boosted its holdings in GoDaddy by 30.0% during the first quarter. City Holding Co. now owns 260 shares of the technology company’s stock worth $47,000 after buying an additional 60 shares in the last quarter. Equitable Trust Co. boosted its holdings in GoDaddy by 1.0% during the first quarter. Equitable Trust Co. now owns 6,657 shares of the technology company’s stock worth $1,199,000 after buying an additional 64 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its holdings in GoDaddy by 0.8% during the first quarter. NorthCrest Asset Manangement LLC now owns 7,967 shares of the technology company’s stock worth $1,435,000 after buying an additional 67 shares in the last quarter. CX Institutional boosted its holdings in GoDaddy by 13.1% during the second quarter. CX Institutional now owns 577 shares of the technology company’s stock worth $104,000 after buying an additional 67 shares in the last quarter. Finally, Allworth Financial LP raised its position in GoDaddy by 4.9% during the first quarter. Allworth Financial LP now owns 1,575 shares of the technology company’s stock worth $284,000 after acquiring an additional 73 shares during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $134.92 on Friday. The firm has a 50-day simple moving average of $146.38 and a 200-day simple moving average of $166.83. The stock has a market capitalization of $18.68 billion, a price-to-earnings ratio of 24.09, a price-to-earnings-growth ratio of 1.46 and a beta of 0.98. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 9.33. GoDaddy Inc. has a 52 week low of $131.29 and a 52 week high of $216.00.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, August 7th. The technology company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.07. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.21 billion. GoDaddy had a net margin of 17.01% and a return on equity of 189.42%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.01 earnings per share. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Citigroup reduced their price objective on shares of GoDaddy from $234.00 to $214.00 and set a “buy” rating for the company in a research report on Friday, August 8th. UBS Group reduced their price objective on shares of GoDaddy from $215.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday. Raymond James Financial reduced their price objective on shares of GoDaddy from $225.00 to $175.00 and set a “strong-buy” rating for the company in a research report on Friday, August 8th. Royal Bank Of Canada reduced their price objective on shares of GoDaddy from $225.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. Finally, Piper Sandler set a $182.00 price objective on shares of GoDaddy and gave the stock an “overweight” rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $197.79.

Insiders Place Their Bets

In related news, CFO Mark Mccaffrey sold 3,326 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $142.21, for a total transaction of $472,990.46. Following the completion of the sale, the chief financial officer directly owned 70,133 shares in the company, valued at approximately $9,973,613.93. This trade represents a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Amanpal Singh Bhutani sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $150.00, for a total transaction of $900,000.00. Following the sale, the chief executive officer owned 406,065 shares of the company’s stock, valued at approximately $60,909,750. The trade was a 1.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,203 shares of company stock valued at $4,200,828. Corporate insiders own 0.70% of the company’s stock.

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.