Transcend Capital Advisors LLC Acquires New Stake in GoDaddy Inc. $GDDY

Transcend Capital Advisors LLC acquired a new stake in shares of GoDaddy Inc. (NYSE:GDDY) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,224 shares of the technology company’s stock, valued at approximately $220,000.

A number of other hedge funds also recently bought and sold shares of GDDY. Cornerstone Planning Group LLC increased its position in GoDaddy by 123.4% during the first quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company’s stock valued at $25,000 after acquiring an additional 79 shares during the last quarter. Bayforest Capital Ltd purchased a new stake in GoDaddy during the second quarter valued at $26,000. Park Square Financial Group LLC purchased a new stake in GoDaddy during the first quarter valued at $27,000. Private Trust Co. NA increased its position in GoDaddy by 591.3% in the first quarter. Private Trust Co. NA now owns 159 shares of the technology company’s stock worth $29,000 after buying an additional 136 shares in the last quarter. Finally, Zions Bancorporation National Association UT purchased a new stake in GoDaddy in the first quarter worth about $30,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insider Activity at GoDaddy

In related news, COO Roger Chen sold 1,000 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $145.71, for a total transaction of $145,710.00. Following the completion of the transaction, the chief operating officer directly owned 251,949 shares of the company’s stock, valued at approximately $36,711,488.79. This represents a 0.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Leah Sweet sold 650 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $141.14, for a total value of $91,741.00. Following the transaction, the director directly owned 12,064 shares of the company’s stock, valued at approximately $1,702,712.96. The trade was a 5.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 20,703 shares of company stock valued at $2,994,243 in the last 90 days. 0.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GDDY. Weiss Ratings restated a “hold (c+)” rating on shares of GoDaddy in a research report on Wednesday, October 8th. UBS Group reduced their price target on GoDaddy from $215.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, September 30th. Wells Fargo & Company reduced their price target on GoDaddy from $157.00 to $145.00 and set an “equal weight” rating for the company in a research report on Monday, October 6th. Piper Sandler set a $182.00 price target on GoDaddy and gave the stock an “overweight” rating in a research report on Friday, August 8th. Finally, Benchmark restated a “buy” rating on shares of GoDaddy in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $199.00.

GoDaddy Stock Performance

NYSE:GDDY opened at $126.49 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 9.33. GoDaddy Inc. has a 12-month low of $125.00 and a 12-month high of $216.00. The stock has a 50-day moving average price of $139.33 and a 200 day moving average price of $161.04. The stock has a market capitalization of $17.51 billion, a P/E ratio of 22.59, a P/E/G ratio of 1.36 and a beta of 0.98.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, October 30th. The technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.01. GoDaddy had a return on equity of 189.42% and a net margin of 17.01%.The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter last year, the business posted $1.32 earnings per share. The firm’s revenue was up 10.3% on a year-over-year basis. GoDaddy has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Equities research analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

GoDaddy Company 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.