Neo Ivy Capital Management Invests $470,000 in GoDaddy Inc. $GDDY

Neo Ivy Capital Management purchased a new stake in GoDaddy Inc. (NYSE:GDDY) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 2,612 shares of the technology company’s stock, valued at approximately $470,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of GoDaddy by 20.9% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 99,344 shares of the technology company’s stock valued at $17,888,000 after buying an additional 17,200 shares during the period. GDS Wealth Management boosted its holdings in GoDaddy by 16.3% in the second quarter. GDS Wealth Management now owns 59,940 shares of the technology company’s stock valued at $10,793,000 after acquiring an additional 8,388 shares in the last quarter. Voya Investment Management LLC increased its position in GoDaddy by 102.8% during the 1st quarter. Voya Investment Management LLC now owns 805,112 shares of the technology company’s stock valued at $145,033,000 after purchasing an additional 408,178 shares during the period. Andra AP fonden raised its holdings in GoDaddy by 42.4% in the 2nd quarter. Andra AP fonden now owns 381,310 shares of the technology company’s stock worth $68,659,000 after purchasing an additional 113,600 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of GoDaddy by 14.0% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 86,648 shares of the technology company’s stock worth $15,602,000 after purchasing an additional 10,631 shares during the period. 90.28% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Brian Sharples sold 500 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $133.11, for a total value of $66,555.00. Following the sale, the director directly owned 19,957 shares in the company, valued at approximately $2,656,476.27. The trade was a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Phontip Palitwanon sold 777 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $142.21, for a total value of $110,497.17. Following the sale, the chief accounting officer directly owned 20,421 shares in the company, valued at $2,904,070.41. This trade represents a 3.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 19,553 shares of company stock worth $2,825,527. 0.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on GDDY shares. Evercore ISI decreased their target price on GoDaddy from $180.00 to $145.00 and set an “in-line” rating for the company in a research report on Friday, October 31st. UBS Group decreased their price objective on GoDaddy from $160.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, October 31st. Citigroup lowered their price objective on GoDaddy from $214.00 to $195.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Piper Sandler set a $182.00 target price on shares of GoDaddy and gave the stock an “overweight” rating in a research report on Friday, August 8th. Finally, B. Riley lowered their price target on shares of GoDaddy from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $181.14.

GoDaddy Stock Up 2.2%

GDDY opened at $126.92 on Friday. The firm’s 50 day simple moving average is $134.11 and its two-hundred day simple moving average is $155.69. The company has a market capitalization of $17.15 billion, a PE ratio of 22.66, a PEG ratio of 1.36 and a beta of 0.96. GoDaddy Inc. has a 1-year low of $121.94 and a 1-year high of $216.00. 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 (NYSE:GDDY) last posted its quarterly earnings results on Thursday, October 30th. The technology company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. GoDaddy had a net margin of 17.01% and a return on equity of 189.42%. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the business posted $1.32 earnings per share. The company’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. As a group, equities analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current year.

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.